Huf and llp incorporation
This query is : Resolved
NARAYAN MUNDHARA
(Querist)
19 August 2014
Can the same assessee incorporate both an HUF and an LLP simultaneously?
Say, Ramesh an individual formed an HUF with his wife.
Thereafter, can he incorporate an LLP with himself and wife as the designated partners.
Request everybody to please answer the above question
Say, Ramesh an individual formed an HUF with his wife.
Thereafter, can he incorporate an LLP with himself and wife as the designated partners.
Request everybody to please answer the above question
CA UMESH DULAL
(Expert)
19 August 2014
yes
he can as huf and llp are separate entity.
he can as huf and llp are separate entity.
CA UMESH DULAL
(Expert)
19 August 2014
yes
he can as huf and llp are separate entity.
he can as huf and llp are separate entity.
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NARAYAN MUNDHARA
(Querist)
19 August 2014
Thank you for the reply. Furhter, so this incorporation has nothing to do with the MCA Circular which says that HUF or Karta of HUF cannot become a partner/designated partner in an LLP.
CA UMESH DULAL
(Expert)
20 August 2014
you and your wife can become partner in LLP.
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CA UMESH DULAL
(Expert)
20 August 2014
you and your wife can become partner in LLP.
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