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Partnership deed

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(Querist)
31 October 2013 can Partnershio Deed be oral?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
31 October 2013 Yes, but for taxation purpose an 'instrument of partnership' is a must.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
31 October 2013 it can be. But income tax department or for that matter any govt agency or bank won't be able to accept it.
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Ajay Mishra

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Ajay Mishra (Expert)
31 October 2013 To be legal your partnership, it should be written, otherwise in future you can not claim anything in the name of such partnership firm name.

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