Dear All,
I am a partner in a firm where the other partner is my mother.
The firm has some land and shed that we let out as warehouses. My query to you all is, being the partners of the firm can we, ( me and my mother ), let out the warehouses and collect the rent in our personal names through cheque ?
Thank you all in advance.
If the shed and land is in the name of the firm, then the cheque of the Rent income should also be taken in the name of the Firm.
Thank you Devendra,
Can you also please advise wether we, the partners, can take the shed on rent from the firm and then sub-let again ?
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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