Partners business
This query is : Resolved
31 March 2015
Dear Sir,
I Have a query, there are 5 partners in a firm, of which 3 partners have HUF account in the firm these partners avail commission on sale through the HUF from the firm wherein they are partners, another partner takes the commission in his wifes name. Is is situation lawfully proper? or is it that the partners are making business with themselves? please reply
I Have a query, there are 5 partners in a firm, of which 3 partners have HUF account in the firm these partners avail commission on sale through the HUF from the firm wherein they are partners, another partner takes the commission in his wifes name. Is is situation lawfully proper? or is it that the partners are making business with themselves? please reply
31 March 2015
if all partners agree then it will be lawfull.
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