Business Studies

When partnership is between two HUF then _________.


ANSWER

members of both the HUF are taken in account for the calculation of maximum number of person who can form a partnership firm excluding minors


SOLUTION
The affairs of the HUF are looked after and managed by its krta  . When two kartas of two HUF enter into a partnership agreement the partnership is popularly described as one between the two HUF but in the eye of law it is a partnership between the two kartas and the other members of the families do not ipso facto become partners . There is , however nothing to prevent the individual members of one HUF from entering into a partnership with the individual members of another HUF and in such a case it is a partnership between the individual members and it is a wholly inappropriate to describe such a partnership as one between two HUF.
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Single Correct Hard Published on 18th 08, 2020
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