By virtue of which section of the Indian Partnership Act 1932, partne…

NCERT (2026-27 edition):
Nature of Partnership – “When two or more persons join hands to set up a business and share its profits and losses, they are said to be in partnership. Section 4 of the Indian Partnership Act 1932 defines partnership as the ‘relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all’.”