25 May 2015
Hi, I am running my own proprietorship in the name of ANKIT PARVEEN JAIN & Co. but now i want to join a partnership firm.
So please help me to understand that while applying for Bank Audit whether i am counted as an eligible partner in partnership firm or should i have to leave my proprietorship.
25 May 2015
Hello, While applying for bank audit, you will be counted as part time partner (since your proprietorship firm is running), this will downgrade the ratings of your partnership firm, I Think you should try to merging of firm, that is a good option.
What will be benefits of merger? In case if in future i will leave that firm than what will be my standing at that time because i don't have my proprietorship running at that time.