partnership of pvt.co

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amit sharma (Querist)
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28 August 2010 can a private ltd company do partnership under partnership act

how he will get remenuration

roc concequencies
IT concequencies

amit

Vimal Saini

Vimal Saini (Expert)
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28 August 2010 A company is an artificial person... It has a seperate legal entity.. Also it can enter into contract.. So a company can enter into partnership but the articles of the company should permit the company to do the same....

And if Company is acting as a working partner , Remuneration is allowed.
and if Directors of the company is authorised to act as partner on behalf of the company, he will have to make decalaration

amit sharma

amit sharma (Querist)
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31 August 2010 thank u vimal but just clear above points with IT section and who has to make decleration and remenuration is a part of income of director or a company

Kindly support your answer with IT section