Receipt for capital contribution made by partner
This query is : Resolved
k chakraborty
(Querist)
27 April 2024
Can a partnership Firm issue receipt, signed by one partner on behalf of the firm, to its other partner for capital contribution made by him? My dobut came from the fact that the Firm has no separate legal existence outside its partners. Hence can a firm (the collective) issue receipt to its partners ( the constituent)
Nikhil Kaushik
(Expert)
27 April 2024
well, nothing stops you from issuing such a receipt.
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