What are the different roles played by a minor in a Hindu Undivided Family and in a partnership firm?
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A minor becomes a member of Joint Hindu Family Business by virtue of his birth. On the other hand, in partnership, minor can be a partner only in profits. Or we can say that The inclusion of an individual into the business occurs due to birth in a Hindu Undivided Family. Hence, minors can also be members of the business. On the other hand, in a partnership firm, the minor cannot be a partner of a business. In the partnership firm, the age of the partners should be above 18 years.
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A minor becomes a member of Joint Hindu Family Business by virtue of his birth. On the other hand, in partnership, minor can be a partner only in profits. Or we can say that The inclusion of an individual into the business occurs due to birth in a Hindu Undivided Family. Hence, minors can also be members of the business. On the other hand, in a partnership firm, the minor cannot be a partner of a business. In the partnership firm, the age of the partners should be above 18 years.
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