Sleeping partner

This query is : Resolved

Share Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

11 September 2013 what is the difference between sleeping partner & nominal partner.

Hemant Kumar

Hemant Kumar (Expert)
Follow

11 September 2013 Sleeping or Dormant Partner:

A sleeping or dormant partner is one who does not take any active part in the management of the business. He contributes capital and shares the profits which is usually less than that of the active partners. He is liable for all the de of the firm but his relationship with the firm is not disclosed to the general public.

Nominal Partner:

A partner who simply lends his name to the firm is called nominal partner. He neither contributes any capital nor shares in the profits or take part the management of the business. But he is liable to third parties like other partners. A nominal partner must be distinguished from the sleeping partner. While the nominal partner is known to the outsiders and does not share in the profits, the sleeping partner shares in the profit a his relationship is kept secret.

Querist : Anonymous

Querist : Anonymous (Querist)

11 September 2013 a sleeping partner can get the salary

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

REGIWISE CONSULTANTS PVT LTD

bhavesh

Tanishka Khandelwal

Fredrick Samraj

Anant Kuber

Subscribe Now

Sleeping partner

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Manager- Finance and Compliance

Senior Executive

Accountant

GST CONSULTANCY

GST CONSULTANT