Partnership

RD (Querist) 21 June 2012 This query is : Resolved
My Question is:

Can there be a legal partnership between Mr.A and M/s A (HUF) where Mr. A is karta? Especially when it is generally believed that HUF can not be a partner but can become a partner through its Karta only.

Kindly opine whether such a partnership is a valid one or not.

Thanks in Advance

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Adv.R.P.Chugh (Expert) 21 June 2012
1. HUF cannot be a partner for the simple reason that it is not a legal person.

2. Karta can be a partner representing the HUF.

The latter partnership is a valid one.

M V Gupta (Expert) 23 June 2012
Technically speaking the proposal seems to be in order. But if the proposed arrangement is made to evade taxes or avoid any other law, then A may come in to trouble.

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