Partnership

Anup Hadgaonkar (Querist) 13 November 2010 This query is : Resolved
Even though there is no provision in partnership deed to carry on agreecultural buisness (cultivation and allied activities), can partnership firm purchase agreecultural land in Maharashtra?

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Arun Kumar Bhagat (Expert) 14 November 2010
You can purchase thereafter amend the deed.

Murali Krishna (Expert) 15 November 2010
Dear Anup,

Don't get confused between acquiring property for the firm and doing business by it.

There cannot be any wrong if a partnership firm acquires agricultural property even if there is no provision to carry on agricultural business. It may not do any business related with agriculture.

Sri Vijayan.A (Expert) 20 November 2010
There is no bar to buy agricultural land in Maharashtra or any other states of India.
If u want u can make amendment in the partnership deed

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