Husband Wife partnership firm

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Business
1 Points Posted on 02 March 2021

Can a husband and wife form business partnership firm if both of them have done MBA from premium Bschools and are bringing their own earned capital into business. Would clubbing of income be applicable?

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On 02 March 2021 at 09:53 Report
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Yes, a husband and wife can indeed form a business partnership firm, even if they are bringing their own capital and possess MBAs. Crucially, the clubbing of income provisions will not apply in this scenario, meaning their individual incomes will be treated separately for tax purposes. This allows for a straightforward business structure without adverse tax implications.

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Chartered Accountant
24588 Points Posted on 02 March 2021
Yes it's possible
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On 02 March 2021 at 11:05
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588 Points Posted on 02 March 2021
They can form partnership firm. Clubbing provisions would not apply.
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On 02 March 2021 at 11:10
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17269 Points Posted on 02 March 2021
No question of clubbing of income. Not at all
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On 02 March 2021 at 18:08
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Chartered Accountant
24588 Points Posted on 03 March 2021
Clubbing will not applicable but partnership can be formed
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On 03 March 2021 at 14:08

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