manu (Student) (136 Points)
04 July 2009Sir
1. If one partner is include his capital and other is only working partner than we can make a deed of partnership?
2. if yes than what is the formte of this type of deed? please proivde me.
3. and if we will make this type of deed than capital partner can recived the remunnaration from firm...
with regards
Manu
Anumanchipalli Sathikonda
(Tax Consultant)
(1559 Points)
Replied 04 July 2009
Mr.Manu a wirtten partnership deed is a compulsory requirement to establish the existence of a partnership firm. If no partnership deed is executed between the two persons it will be treated as an AOP (Association Of Persons).
Partnership deed can be executed between two partners one of them is contributing capital and the other does not contribute any capital. The partner who contributes capital is entitled to remuneration if is a working partner of the firm. The working partners should be named in the partnership deed.
With Best Wishes
Sathikonda
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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