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Capital introduction in a partnership firm

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(Querist)
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?
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Amol S Joglekar

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Amol S Joglekar (Expert)
24 November 2014 Yes. A partner can very well introduce the land as his/her capital contribution, if the other partners agree to it.
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MOHAMMAD DANIYAL ANSARI

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MOHAMMAD DANIYAL ANSARI (Querist)
25 November 2014 Then how it is to be mentioned in the partnership deed?
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Amol S Joglekar

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Amol S Joglekar (Expert)
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.
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