Sub-Partnership !

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Dhruva (Querist)
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13 March 2008 If A,B,C are partners in firm ABC & CO.
Can C be the sub-partner of A in the same firm ABC & Co.
If yes,then what would be the nature of income to C from Sub-partnership?
If No,reasons for the same !

pushpendra

pushpendra (Expert)
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14 March 2008 what is the purpose of sub partner.

1.they can ammend in the partnership deed

2. C and A can make other parnership deed or MOU for the above effect.

the nature of income would be business income.

it's my personal view. waiting for more expert opinion

Dhruva

Dhruva (Querist)
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14 March 2008 May be he wants to bar his liability to a certain extent without affecting his share in profits.
Also there is no clarifiation regarding the same in the Acts.
Also please convince me again by explaining how will it be a business income?

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pushpendra

pushpendra (Expert)
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14 March 2008 Dhruva can u tell me What is a motto of Sub partnership.