Property of the partnership firm
This query is : Resolved
11 October 2011
Sir/Madam i need to know:-
• Whether it is true that
“Property of the partnership firm cannot be deemed as property of the partners and that They are two separate things” ?
• Which section or case laws relate to it?
• Whether it is true that
“Property of the partnership firm cannot be deemed as property of the partners and that They are two separate things” ?
• Which section or case laws relate to it?
28 October 2011
See Sec 14, 15 of Partnership Act, which says property of firm is not property of individual partners and it should be used only for the purpose of Firm.
However partners are joint owners of the property.
However partners are joint owners of the property.
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST Regis.
- Tds on building rent monthly
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- Individual capital equal to which assets of balance sheet
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
