Capital introduction in a partnership firm
This query is : Resolved
24 November 2014
Can a partner introduce a land as his/her initial contribution towards the firm at the time of formation of partnership firm?
24 November 2014
Yes. A partner can very well introduce the land as his/her capital contribution, if the other partners agree to it.
25 November 2014
Then how it is to be mentioned in the partnership deed?
25 November 2014
You can mention the description of the land
You can also decide the value at which it sould be recorded in the partnership.
You can also decide the value at which it sould be recorded in the partnership.
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