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Which law defines a partnership in India and provides its legal framework?

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Question

Which law defines a partnership in India and provides its legal framework?

Options

  • Companies Act, 2013

  • Indian Partnership Act, 1932

  • Contract Act, 1872

  • Income Tax Act, 1961

MCQ
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Solution

Indian Partnership Act, 1932

Explanation:

The Indian Partnership Act, 1932, is the governing law for partnership firms and their formation in India.

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