Husband & Wife - Partners in LLP

[CMA Adv MEHBOOB]

Hello,

I know a India LLP company where husband and wife are the only partners.

Can Husband and Wife become the Designated Partners of an India LLP company ?

Regards :

CMA Adv MEHBOOB

9831784656

M.Com, MBA (Finance), LLB, LLM, CFM, CIA

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[Ashutosh Shukla]

Hi,

Most likely they can become for the following reasons 1) such an arrangement has not been specifically excluded either in the act or the rules, 2) Section 7 of the act does not provide that the two DPs shall not be related to each other in any manner, 3) Most importantly, Section 7(2)(1) and 7(2)(ii) provide that "any partner" may become (among others). Other members may share their views as well. 

Thanks and Regards,

CS Ashutosh Shukla

[Gopal Rathi]

HI

As per opinion, the Income tax clubbing provision will apply

THANKS AND REGARDS
GOPAL RATHI (FCA)
+919845296555 \ +917892402118

MGIRT &CO

CHARTERED ACCOUNTANTS

NO 270 SACHIN TOWER, 3RD FLOOR, 

1ST MAIN ROAD, ALBERT VICTOR ROAD,

CHAMRAJ PET, BANGALORE 560 018

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[khyat...@gmail.com]

why

[c.n. krishnan]

definitely, no prohibition against the same

On Sat, Aug 12, 2023 at 10:44 PM Ashutosh Shukla <imaash...@gmail.com> wrote: