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Partnership

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(Querist)
29 October 2010 Situation:

'A' is having sole prop. concern with the name of "A & associates".
'A' floats a partnership with 'B' under the name of "B & associates".

Queries:
1. Can 'A' do so i.e. can he become partner in a P.Ship firm alongwith running his own sole prop. business.

2. If yes, can both the entities be treated as 'separate entities' in the eyes of law.
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Thiru

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Thiru (Expert)
30 October 2010 Certainly yes. first one is assessed in his individual hands and the second one is assessed in the hands of the firm.

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