What is partner in a representative capacity?
This query is : Resolved
jamsheer n
(Querist)
09 February 2011
sir
What is partner in a representative capacity?
Advnc thnks
What is partner in a representative capacity?
Advnc thnks
CA PARAS BAFNA
(Expert)
09 February 2011
The person who has been given an authority, expressly or implicitly by law to carry on
the responsibility as a partner on behalf of another, is known as a partner in representative capacity.
For example- In the Case of HUF, Karat is working as such.
In case of minor his legal guardian may also be treated as partner in representative capacity.
From taxation point of view the primary responsibility will be of the person being represented.
the responsibility as a partner on behalf of another, is known as a partner in representative capacity.
For example- In the Case of HUF, Karat is working as such.
In case of minor his legal guardian may also be treated as partner in representative capacity.
From taxation point of view the primary responsibility will be of the person being represented.
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