Query related to partnerhsip firm

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SHYAM SUNDER GOYAL (Querist)
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02 July 2013 can husband and wife only be partners in a partnership firm for doing business? if yes then wt wii be tax treatment in the hands of partners ?

Ajay Mishra

Ajay Mishra (Expert)
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03 July 2013 Hi

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.

Yes, Husband and wife together can open a partnership firm.

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