09 July 2009
Can a Private Limited Co. become partner in a Partner Ship Firm......If Yes Then the treatment if.... a)Out of Seven Directors Two Directors are also the partners in the Firm. b)Can we give interest on capital & Partners Salary To the Pvt Ltd. Company c)How is The Pvt Ltd. Company Show this Investment in his books of Accounts.
As per corporate law provisions yes a Private Limited Co. can be a partner in a Partner Ship Firm reason being such Private Limited Co. has perpetual existance.
For accounting aspects of the same i advise you to post accounting part of this query in accont section for expert advice.
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