Partnership
This query is : Resolved
09 March 2015
Whether a partnership firm be a partner in another partnership firm.
09 March 2015
Yes, any person including a partnership firm can be a partner in another partnership firm.
09 March 2015
But definition of person does not include Partnership Firm.
09 March 2015
As per the Income Tax Act, the definition of Person includes
Individual
HUF
Firm
Company
AOP
BOI
Any other statutory body etc.
Individual
HUF
Firm
Company
AOP
BOI
Any other statutory body etc.
09 March 2015
Partnership is not separate legal entity; in such a case how it enter into a contract. If a partner of a firm enters into partnership on behalf of the firm,please explain the legal status of firm.
Also provide me draft of such partnership deed.
Also provide me draft of such partnership deed.
09 March 2015
Partnership Firm is a Separate Legal Entity. It can sue or be sued. It can also enter in to contracts through it's partners.
The partnership deed would be the same as a normal partnership deed, should contain the details of the other partnership firm.
The partnership deed would be the same as a normal partnership deed, should contain the details of the other partnership firm.
09 March 2015
https://www.caclubindia.com/experts/partnership-518300.asp#.VP2sbvyUe3s
https://www.caclubindia.com/experts/-partnership-firm-i-448180.asp#.VP2sHPyUe3s
A Partnership Firm ca not become partner in another partnership firm. Please refer replies given at above links.
https://www.caclubindia.com/experts/-partnership-firm-i-448180.asp#.VP2sHPyUe3s
A Partnership Firm ca not become partner in another partnership firm. Please refer replies given at above links.
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