Change in name of ca partnership firm

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 February 2013 In case there is change in name of CA Firm without any changing the constitution of the firm, does it effect the standing of firm?
What is the procedure for such changing?

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

11 February 2013 The change of name shall require amendment in the partnership deed. You shall also have to effect changes in tax registrations including change in PAN, service tax etc..

Querist : Anonymous

Querist : Anonymous (Querist)

15 February 2013 @nikhil: My question is that, will it effect the no. of years in practice of firm would effect?

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
Follow

19 July 2024 If a Chartered Accountancy (CA) partnership firm changes its name without altering its constitution (meaning there are no changes in the partners or their profit-sharing ratios), the change typically does not affect the firm's standing or its continuity in practice. Here’s how it generally works and what you need to consider:

### Procedure for Changing the Name of the CA Firm

1. **Approval and Documentation:**
- The partners of the firm should discuss and agree upon the new name.
- Prepare a resolution or partnership deed amendment documenting the decision to change the firm’s name.
- Ensure that all partners sign the resolution or amendment to signify their agreement.

2. **Intimation to ICAI:**
- Inform the Institute of Chartered Accountants of India (ICAI) about the name change.
- Submit a letter or form to the concerned regional or branch office of ICAI, detailing the old name, new name, and confirming that there are no changes in the constitution of the firm.
- Include any required documents as specified by ICAI, such as the resolution or amended partnership deed.

3. **ICAI Approval:**
- ICAI typically reviews and approves the name change request.
- Upon approval, they update their records with the new firm name.

### Effects on Firm's Standing and Practice Years

- **Standing of the Firm:** Changing the name without changing the constitution does not affect the firm’s standing. The firm retains its registration, membership status with ICAI, and continues to operate under the same registration number.

- **Years in Practice:** The years in practice are typically counted from the original registration date of the firm with ICAI. Changing the firm name does not reset this count, as it is based on the continuous existence and practice of the firm rather than the specific name.

### Considerations

- **Consistency in Communication:** Ensure that clients, regulatory bodies, and other stakeholders are informed of the name change to avoid confusion.

- **Compliance:** Adhere to any additional regulatory requirements or notifications specific to your jurisdiction or professional regulations.

- **Documentation:** Keep copies of all documents related to the name change, including communications with ICAI and internal partnership resolutions, for your records and future reference.

By following these procedures and considerations, you can effectively change the name of your CA partnership firm while maintaining continuity in practice and complying with regulatory requirements. If you have specific questions or need further guidance, consulting with ICAI or a legal advisor experienced in CA firm matters can provide clarity tailored to your situation.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

21 July 2024 do not waste your time with 11 year old queries. respond to current ones. its not a competition!!

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now