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Change in costitution of partnership firm

This query is : Resolved 
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08 January 2025 Out of 4 partners 1 partner retire from firm and withdraw his capital from firm,revaluation of assets and liability required
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
08 January 2025 Yes, when a partner retires from a partnership firm and withdraws their capital, it is necessary to revalue the assets and reassess the liabilities of the firm.
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