WebMar 25, 2011 · The Karta or a member of the HUF can represent the HUF in a firm. A female member can also represent HUF in a partnership firm, CIT v. Banaik Industries 119 ITR 282 (Pat.) Remuneration to Karta or Member from Firm : Where remuneration was received by a member of HUF from a firm, where he was partner on behalf of HUF for … WebIn case of HUF firm, a person becomes a member (coparcener) merely by his birth. 5. Minor member A minor cannot become a full-fledged partner in a firm; he can be admitted …
Can a Non-Law Graduate become a Partner in a Law …
Web(ix) Members of HUF and Partnership firms: A Hindu undivided family can become a partner in a firm. However, ... Basic Concepts. Under section 2(23) of the Income-tax Act, 1961, the terms ‘firm’, ‘partner’ and ‘partnership’ have the same meanings respectively as have been assigned to them under the Indian Partnership Act, ... WebApr 10, 2024 · The tenant is responsible for deducting TDS on rent at the rate of 10% on the rent paid to the landlord if the rent paid exceeds Rs. 2,40,000 per annum as per the norms of Income Tax Act under section 194 – I. The tenant must also remit the TDS amount to the government. If the landlord is a non-resident, the tenant must deduct TDS at the rate ... shuteye counseling
Who Can Be a Partner in a Partnership? LegalMatch
WebJul 5, 2016 · An HUF directly or indirectly cannot become a partner of a firm because the firm is an association of individuals. Even if a person nominated by the HUF joins a … WebDec 23, 2011 · As per someone the partnership definition says 'person' includes any artificial legal entity and hence a partnership firm can become a partner. As per someone else the supreme court has said in a case that its not possible. however case law name was not mentioned. The answer to your query is a straight forward "NO". WebSection 2 (1) (n) of the Limited Liability Partnership Act, 2008 defines “Limited Liability Partnership” as a partnership formed and registered under the Act. It is a distinct legal entity separate from its Partner. 1. ITR-4 (SUGAM) – Applicable for Individual, HUF & Firm (other than LLP) This return is applicable for an Individual or ... the pact for skills