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Durga prasad   15 March 2017

Procedure of partnership firm lease

We have an operating the hospitality firm, which have 3 partners in this firm. The hopsitality premises of the owner is the brother of partners and he is not the partner of firm. Now the partners of the firm are decided to give the lease of the firm. What is the procedure to give the lease of partnership firm, if the lessee has giving some remuniration to the partners. Please give guidance to us, how to follow this..... for taxation wise and law wise.


 1 Replies


Dear querist,

What the agreement says about the cancellation of lease? Any specific conditions are mentioned in the lease agreement which you entered into the partnership firm.
You can lease out the partnership provided all the partners agree to it.


Procedure is you need to do it minium 20 rs stamp paper.  Other rules depend on wishes of contracting parties.

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