partner ship

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Querist : Anonymous

Querist : Anonymous (Querist)

04 January 2011 1. Can a company be a partner in a partnership firm ?

2. Can a company enters in to a contract with its directors to form a Partnership Firm ?

3. If yes then Can that company receive partner remuneration from the firm ?

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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04 January 2011 1. Yes

2. Yes

3. No.

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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04 January 2011 1. Yes

2. Yes

3. No.

Ajay Mishra

Ajay Mishra (Expert)
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05 January 2011 Hi

For Question No. 1 and 2:

Answer: Yes

TYPES OF PARTNERSHIP
A Partnership can be formed between:
(i) one or more individuals or
(ii) between an individual and a person representing a H.U.F. or
(iii) between an individual and other partner representing his firm, or between Limited Company or a Corporation and an Individual or Partnership firm, or
(iv) between two Partnership firms, or
(v) between a Limited Company or a Corporation and an individual or Partnership firm, or
(vi) between a Partnership firm and H.U.F., or
(vii) between members of HUF in their individual and independent capacity, and
(viii) between a HUF and a member of that HUF independently.

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