Plz Guide...
My Sister is a partner in my fathers business for 20% from 2015. Recently she got job in Axis Bank as Asst. Manager. While applying for Business Loan Axis Bank manager told that She cant be a partner in a firm as she is an Employee in bank. He is not sure about it so he advised to take tax consultants opinion.
Please guide me whether my sister has to withdraw her partnership from business or she can continue as a partner along with her job in Axis Bank.
She can continue as partner along with job in bank, but she can not apply for loan from same bank
terms and condition for job at the appointment will play major role
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