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Legal status of jv

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 August 2012 What is the legal status of JV for eg. whether it is a individual or BOI or Company HUF or some thing else.
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
25 August 2012 Not Specifically Defined JV in IT Act.
Since It is Not Registered Under Partnership Act, Its to Be Classified Individually.

In JV There is No % of Share Profit is There, Hence It Cant Classified as AOP Also.

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