Can an HUF become a partner in a partnership firm? Please clarify.
1 Replies
Shalaka Chawla
(-)
(60 Points)
Replied 05 September 2011
No, HUF cannot be parner with a partnership firm as it has no seperate legal existence in eyes of law.
Only karta can become a partner with an individual.
partnership between a co-parcener and karta is valid if co-parcener contributes money/labour/skill.
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