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Partner without shrare in profit

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 November 2011 Can there be a partner in the partnership firm without entitle for share in profit/loss?
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Gursimar Singh

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Gursimar Singh (Expert)
02 November 2011 No Sharing of profits is compulsary...refer defination of partner as per partnership act,1932

"Partnership" is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.
Persons who have entered into partnership with one another are called individually, "partners"
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