banner_ad

Coversion of Propreitor ship to Partnership Firm

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
01 April 2010 one of my friend Runing Proprietorship business. He want to convert into partnership firm alog with relatives partnes. The balance sheet of propreitorship as follows:

Currenet Liabilites

Capital account 3,00,000/-
CAR LOAN 4,00,000/-
SUNDRY CREDITORS 2.50.000/-
------------ TOTAL 9,50,000/-
-----------
Current Assets

FIXED ASSETS 7,85,000/-
Current Assets 1,65,000 /-
-------------- total 9,50,000/-
------------
My question is how convert all this to parnership firm. Any document i have to make and what r da procedure. pls provide me DEED copy of conversion. New partner are introuducing fresh capital in their account, mY E-MAIL IS nagrja2008@yahoo.com
Profile Image

M Prabhakar Menon

Profile Image

M Prabhakar Menon (Expert)
01 April 2010 U will have to prepare a partnership deed registration of the deed is not compulsory under the Indian Partnership Act 1932.In the preamble to the deed u can state the background details if the partners so desire.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details