Appointment of new partner in the firm
This query is : Resolved
04 May 2019
Dear Sir,
My query is little technical to answer.
My father expired few days back who was a practicing Chartered Accountant. I was working with him and was handling all the accounts and other activities in the firm. I am not a Chartered Accountant.
The partnership firm comprised of 2 persons so it has become necessary for me to appoint a new partner in the firm.
I have got a CA who is ready to join the firm. My query is, what kind of agreement shall I make with the new partner so that my source of income remains safe and he cannot take my existing clients to his own firm, incase he desires to do so.
I am facing a lot of difficulty at the moment in deciding to admit the new partner and want to do the paper work correctly so that no one can take away my existing clients as my dad took many years to build them.
Please help.
Regards,
Divyesh Jain
My query is little technical to answer.
My father expired few days back who was a practicing Chartered Accountant. I was working with him and was handling all the accounts and other activities in the firm. I am not a Chartered Accountant.
The partnership firm comprised of 2 persons so it has become necessary for me to appoint a new partner in the firm.
I have got a CA who is ready to join the firm. My query is, what kind of agreement shall I make with the new partner so that my source of income remains safe and he cannot take my existing clients to his own firm, incase he desires to do so.
I am facing a lot of difficulty at the moment in deciding to admit the new partner and want to do the paper work correctly so that no one can take away my existing clients as my dad took many years to build them.
Please help.
Regards,
Divyesh Jain
05 May 2019
Paper work can't bind anybody. It's only mutual understanding will fulfill your requirements. You can continue with the existing partner as prop firm if he is a reliable and loyal person.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- SFT Cash Deposit in Current Account
- Annual return in Gst
- Regarding TDS Applicability For Director Remuneration
- Requirement of tax deduction at source by individual
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
