Can a Karta of HUF be partner

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  1. Sandeep Juneja

    Sandeep Juneja New Member

    The firm consists of A,b,c,d.

    Mrs.A is Karta of A(HUF Consisting b & c) Now can we take Mrs.A(Karta) as a Partner in Firm ????

    Pls note:-
    A(Widow)= Mother of B & C
    D=Aunt of B & C All 4 are Relative

    Holding pattern = A(Huf) 60%; A(Individul capacity) 10%; B 10%; C 10%; D 10%:



    Further Comments will be Noted,Appreciated & Dealt Suitably.

    Dear Experts, i hope you would TRY Replying me to deal this Assignment.
    Thanks in Advance.
     
  2. Neha Sharma

    Neha Sharma Active Member

    The Karta and HUF are 2 separate legal entities. The Karta is only managing the HUF and is not the owner of the HUF.

    Therefore the HUF and its Karta can both be partners in the same firm
     
  3. Shishir Nayak

    Shishir Nayak Member

    Under the Indian Partnership Act, 1932, any adult member of sound mind canbecome partner of the partnership. Such partner may be representing either HUF or any other entity or group of persons.

    However, as far as partnership under IndianPartnership Act, 1932 is concerned, it will recognize only the individual capacity of such partner
     
    Parul_Gupta likes this.
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