Section 40(b)
This query is : Resolved
CA Ysil Karunai
(Querist)
09 March 2009
Dear Sir,
what is meant by PARTNER'S IN REPRESENTATIVE CAPACITY.
what is meant by PARTNER'S IN REPRESENTATIVE CAPACITY.
09 March 2009
One example is given below:-
An HUF is a partner in a partnership firm. The karta is representing the HUF as a partner of the partnership firm. In such a situation the karta is a partner in representative capacity.
An HUF is a partner in a partnership firm. The karta is representing the HUF as a partner of the partnership firm. In such a situation the karta is a partner in representative capacity.
CA.Tarun Maheshwari
(Expert)
09 March 2009
Good Example. It make everything clear wrt this concept.
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