Partnership Deed

Vishish Agrawal (Querist) 23 September 2010 This query is : Resolved
In case, a minor is admitted to the benefits of the partnership firm. Whether his natural gurdian (who is also the partner of the same firm) needs to sign the partnership deed on minor's behalf.

Thanks and Regards, Ateesh

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DEFENSE ADVOCATE.-firmaction@g (Expert) 23 September 2010
yes

Sarvesh Kumar Sharma Advocate (Expert) 23 September 2010
yes natural gurdian will sign on the document.

Devajyoti Barman (Expert) 23 September 2010
Yes. The minor can not enter into agreement and hence in his place and stead his natural guardian puts his signature.

s.subramanian (Expert) 23 September 2010
Yes. I agree.

B.Chakrapani Warrier (Expert) 24 September 2010
If a minor who is admitted to the benefit of partnership signs himself,the deed will become invalid. If it is signed by the guardian on behalf of the minor,the deed is valid.
Citation :- Utam Singh Kharana and sons Vs. ITO (30)ITR (84).

Ajay Bansal (Expert) 25 September 2010
YES.

Vishish Agrawal (Querist) 26 September 2010
Thanks a lot you all for your valuable inputs on the issuue.

Best Regards, Vishish

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