HARENDRA KUMAR (ACCOUNTANT) (89 Points)
09 January 2019Please let me know about Capital contribution in Partnership Act with section. can any one partner without capital contribution, when one partner capital contribute but second partner want not contribute in partnership but profit /loss sharing in equal ratio. can it possible as per partnership Act ? please Suggest me .
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 09 January 2019
No, atleast some amount needs to be contributed towards capital. Be it Rs. 10,000/- only.
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 09 January 2019
CAclubindia
