Whether partners can enter into a partnership deed on terms and conditions applicable after one year?
Example : deed made on 01/04/2013 having effect from 01/04/2014 on the stamp paper dated 01/04/2013.
Manmeet Arora (CA) (111 Points)
29 April 2013Whether partners can enter into a partnership deed on terms and conditions applicable after one year?
Example : deed made on 01/04/2013 having effect from 01/04/2014 on the stamp paper dated 01/04/2013.
CA Bhargav Nathwani
(CA in Practice)
(8307 Points)
Replied 29 April 2013
So why preparing deed b4 one year ? Any specific purpose ? when will start Business Acvities from 1/4/2013 or from date of which t & c apply actually ?
CA CMA CS Ram Pavan Kumar Melam
(CA)
(6980 Points)
Replied 21 May 2013
To form a partnership business there should be an immediate constitution/formation/ association. In absence of immediate formation, there is no partnership. Hence future constitution cannot form a valid partnership.
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