https://www.taxtmi.com/acts?id=17761 An association or partnership exceeding the prescribed member threshold carrying on business for gain must be registered as a company or formed under another law; exceptions include Hindu undivided families and professional associations governed by special Acts. Members of associations contravening the prohibition are liable to a statutory fine and are personally liable for all liabilities incurred in such business. en-us Sat, 02 Mar 2013 16:48:54 +0530 Fri, 19 Dec 2025 15:28:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17761 An association or partnership exceeding the prescribed member threshold carrying on business for gain must be registered as a company or formed under another law; exceptions include Hindu undivided families and professional associations governed by special Acts. Members of associations contravening the prohibition are liable to a statutory fine and are personally liable for all liabilities incurred in such business. Act-Rules Companies Law Sat, 02 Mar 2013 16:48:54 +0530 https://www.taxtmi.com/acts?id=17761