Dear all,
Is it possible to form partnership between two people from which one is major person and another is minor?
1 Replies
(Guest)
No partnership can be formed with a minor since he is not competent to contract according to section 11 of the Indian Contract Act, 1872. But after the formation of a partnership, a minor can be admitted to the benefits of partnership with the consent of all other partners of the firm as per the provisions of section 30 of the Indian Partnership Act, 1932.
Recent Topics
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
Related Threads
CAclubindia
