Can an HUF become a partner/ designated partner in LLP.
Is the following structure possible?
LLP shall consist of 3 partners- 1 Karta of HUF- designated Partner
1 Individual- Designated partner
1 Individual- Partner
Please help.
Thanks in advance
Riddhi Jain (Chartered Accountant) (120 Points)
06 November 2012Can an HUF become a partner/ designated partner in LLP.
Is the following structure possible?
LLP shall consist of 3 partners- 1 Karta of HUF- designated Partner
1 Individual- Designated partner
1 Individual- Partner
Please help.
Thanks in advance
Ankit
(CA, CS)
(3064 Points)
Replied 06 November 2012
Dear Riddhi,
yes an HUF can become a partner in the LLP. it will be represented by the Karta of the HUF
Ankit
Riddhi Jain
(Chartered Accountant)
(120 Points)
Replied 06 November 2012
But HUF is not a body corporate. then how is it possible?
While filing form 1 & 2 for LLP, should it be written as individual as a partner or nominee of Body corporate?
Riddhi Jain
(Chartered Accountant)
(120 Points)
Replied 06 November 2012
Also,
whether the karta representing the HUF be a designated partner?
Riddhi Jain
(Chartered Accountant)
(120 Points)
Replied 06 November 2012
Thanks all,
but can anyone provide any supporting for the same. any circular or any real example wher the ROC has accepted such formation?
Also, can the karta be a designated partner in the llp
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