No, it is not possible for a Hindu Undivided Family (HUF) to act as a partner in a Limited Liability Partnership (LLP). An LLP is a business structure that combines the features of a partnership and a company, providing limited liability protection to its partners.
However, The partners in an LLP can only be individuals or other entities such as companies or LLPs.
Since an HUF is a separate legal entity. They cannot designate as a partner in an LLP. The partners of an LLP are responsible for the management and operations of the business. They are personally liable for the obligations and liabilities of the LLP.
If the members of an HUF wish to participate in an LLP, they would need to do so as individuals, representing their respective shares or interests in the HUF, rather than as the HUF itself. It is important to consult with a qualified legal advisor or professional to understand the specific legal requirements and options available. It is important for structuring your business in accordance with the applicable laws and regulations.
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To visit:https://www.incometax.gov.in
