Gift can be acceted by partner
This query is : Resolved
11 January 2021
Sir,
Please tell me whether a partner in partnership firm can take gift from his wife and his relative.
if yes whether it has to be shown in capital account of that partner.
Please tell me whether a partner in partnership firm can take gift from his wife and his relative.
if yes whether it has to be shown in capital account of that partner.
12 January 2021
Yes, partner can take gift from wife and relative and it need not be shown in capital account of firm.
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