Saju Madhavan ( Chartered Accountant) (44 Points)
13 May 2008Please advice me for the following:
4 friends want to start two business ventures.
1.Property business (land, building etc)
2.Spare parts business (earth moving machinery spare parts)
They want to execute partnership deed on 25% each sharing basis. (4 persons).
Can they execute only one partnership deed for doing the above two businesses ?
Best regards,
Saju Madhavan.
CA Hemant T Dewani
(Chartered Accountant)
(3356 Points)
Replied 13 May 2008
yes they make one partnership for the two business & it is beneficial to all 4 partners if you are making two partnership deed & partners are same then both partnerships income is clubed in partnership they disclosed all activities in thd deed
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