Relating to rbi guidelines

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 January 2017 Hello
I am a Chartered Accountant and I have a sole proprietorship concern and I want to join a partnership concern.
Should I have to close my sole proprietorship concern to take the benefits of partnership concern ??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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31 January 2017 You can merge the sole prop concern with the firm.

Querist : Anonymous

Querist : Anonymous (Querist)

31 January 2017 Sir,
The partners of other firm are not ready for merger.
Can I have my sole proprietorship and be a partner in other firm ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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31 January 2017 Yes you can do so no problem. But obtain consent of other partners. You will not be considered as full time partner of the firm for allotment of bank audit by RBI.

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2017 Sir,
Will this effect my sole proprietorship standing or any other thing if after 2 or 3 years I discontinue my partnership with them ??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 February 2017 It will not affect your sole prop standing and it is better option.