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Karta as partner
If all households, staying in same house,be a partner in a partnership firm. Can One among them be a Partner of same firm in Capacity of Huf ??
Replies (2)
HUF is a seperate tax entity and not a seperate legal entity. To constitute partnership, all the partners in firm must be either Natural person or Person being recognised by law. There is no seperate law for H.U.F and hence H.U.F can not be a partner of firm.
Sir, karta can be partner in both individual & representative capacity in the same firm???
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