Partnership related query
This query is : Resolved
15 June 2015
Kindly suggest
1)can a huf become partners in a firm??
2) can a huf enter in partnership with his members only??
3) can member of huf represent his huf as a partner??
4) can karta in individual capacity enter into partnership with his member representing huf or vice versa ??
1)can a huf become partners in a firm??
2) can a huf enter in partnership with his members only??
3) can member of huf represent his huf as a partner??
4) can karta in individual capacity enter into partnership with his member representing huf or vice versa ??
20 June 2015
1) Since HUF is not a legal person, it cannot directly admit as a partner. HUF in order to become a partner in a partnership firm, should act through its Karta or any other adult member being coparcener;
2) Yes through adult members only, who has legal authority to do so;
3) Yes; and
4) Yes.
2) Yes through adult members only, who has legal authority to do so;
3) Yes; and
4) Yes.
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