Sister concern

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CA Prachi Doshi

CA Prachi Doshi (Querist)
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01 December 2014 Can partnership firm & HUF be included in definition of sister concern of a company?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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01 December 2014 both are not company so how can they be sister concern and in legal terms there is no definition of sister concern as per co act 2013 there is either holding co, subsidiary co, joint venture or associate co etc so u need to be very precise.

CA Prachi Doshi

CA Prachi Doshi (Querist)
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01 December 2014 Sister Concerns means organisations under the same management. Where the important decisions(control and management) are taken by a person or group of persons managing one or more organisations.

Read more at: https://www.caclubindia.com/forum/sister-concern-30252.asp#.VHwJudKUdA0

This was the definition given by an expert and according to the definition it has been stated as organisations. so can HUF & partnership firm be included in that?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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01 December 2014 but under present companies act 2013 or even any other act there is no defintion as such and even in the link which u mentioned above doent provide for any refrence of any act by replier - mr deepak gujrati...

in case of same owners the entity whether huf or firm are onwed by 1 person

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