Partnership VS HUF Business
Differences between Partnership and HUF Business The main points of differences between a partnership and HUF business are as follows. 1. Basis of formation A partnership arises out of a contract between partners. Whereas an HUF arises by the operation of Hindu Law. It is created by status or birth in the family, no agreement is needed for it. 2. Regulating law A partnership is governed by the provisions of the Indian Partnership Act, 1932. An HUF business is governed by Hindu Law…
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