Parnership
This query is : Resolved
27 May 2010
Can Mr. X (Individual)and Mr. X HUF can together form Partnership Firm?
27 May 2010
Yes.
The term "Person" is not defined in the partnership Act/Indian Contract Act.
As per the General Clauses Act, the term includes artificial persons as well.
Practically, I know of such Partnerships.
The term "Person" is not defined in the partnership Act/Indian Contract Act.
As per the General Clauses Act, the term includes artificial persons as well.
Practically, I know of such Partnerships.
27 May 2010
Shyam ji,
But in this case, How the partnership deed will be signed. Will it be valid, if Mr.X sign for himself and also as karta for HUF.
But in this case, How the partnership deed will be signed. Will it be valid, if Mr.X sign for himself and also as karta for HUF.
27 May 2010
Yes it will be valid
27 May 2010
Dear Mr. Palani,
I did not went through the question carefully. Although one can sign in one's indivisual capacity and in the capacity of karta, I am not sure, whether it shall be a legally valid contract.
Fit query to be tested at lawyersclubindia as well.
I did not went through the question carefully. Although one can sign in one's indivisual capacity and in the capacity of karta, I am not sure, whether it shall be a legally valid contract.
Fit query to be tested at lawyersclubindia as well.
27 May 2010
yes
28 May 2010
My view is that it will be valid, since the signing in made in different capacities, One as an individual and one as a Karta....
Really thinkable one...
Really thinkable one...
06 June 2010
thanku sir to all for sending such comments to my querries
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Is online PGCE worth it?
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
