21 October 2014
3 Individual CA's practicing in their own trade name, now decide to form a Partnership firm to carry on practice. One more member wants to join the firm has not applied for certificate of practice, how can we accommodate such person as partner. Does the new person have to first apply for Certificate of Practice separately?
The partners intend to register the firm by 1st week of November but the dilemma they face is whether they can sign tax audit report in individual name as the registration process of the firm would take some time. Please enlighten us in line with the provisions laid out by Institute in this regard.
Advice what is the better way to carry out the registration process?
22 October 2014
First you merge your individual firm name by filling merger form (specified by ICAI) and once merger approved file form no 117 with request letter to change the firm name your new partnership firm.
No member can be partner unless he has COP, so he has to applied for COP and once COP approved, you can filled form for addition of partner specified by ICAI and send revised partnership deed.
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