Legal Question in Real Estate Law in India

I have a partner in a plot of land. I started a partnership firm XYZ wherein my partner has no interest however insisted to be partner in XYZ. I pay rent to my Partner for land but he is not interested in the partnership firm XYZ. However, the said firm XYZ is just a rubber stamp firm doing below marginal business cause we opened another proprietor business in the same premise by the advice of our The proprietor firm is doing fine. However, we have to pay the CA's fees/taxes filing returns for partnership firm XYZ which is actually under performing firm. I want to close the partnership firm but my CA say's you can't close XYZ because it is on the land of which you are part owners. . Why can't we close XYZ? Is there any legal issues that may come up in future..


Asked on 3/28/14, 1:33 pm

1 Answer from Attorneys
anuradha Dixit +9312411481 dixitlawfirm

your CA is misguiding you. you can dissolve the partnership and also settle the accounts . The immovable property can be sold or settled between the partners.for further query contact 9312411481.

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Answered on 4/11/14, 7:49 am


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