Death of one parnter in partnership

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VIKAS KUMAR SHARMA (Querist)
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11 March 2022 Sir, a partnership firm was register in 2013. Now one partner died in Jan 2022 as per partnership deed legal heir should take place in case of death of partner.
Please advise HOW to introduce legal heir in firm
Regards
Vikas

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 March 2022 Execute a deed of partnership with legal heir refering the old deed.

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)
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11 March 2022 thanks for prompt reply SIR
please suggest HOW ?
need to make new deed

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 March 2022 Search Google you can get the format.

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)
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11 March 2022 right sir thank you

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 March 2022 You are welcome..........

CA Altamush Zafar

CA Altamush Zafar (Expert)
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13 March 2022 If there were only two partners and one of them died then the partnership stands dissolved on that day itself

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)
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14 March 2022 but if already mention in partnership deed legal heir will take place in business????

CA Altamush Zafar

CA Altamush Zafar (Expert)
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14 March 2022 Then also dissolved by action of law. No agreement can override the law

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 March 2022 Include legal heir and continue the business refer to old deed. Sign partnership with legal heir refering old deed.
Continue the business with same PAN and GST number.

CA Altamush Zafar

CA Altamush Zafar (Expert)
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14 March 2022 Legally partnership dissolved if there were only two partners and one died before adding another. There is also a supreme court ruling for the same.
What you are suggesting Mr Seetharaman is invalid as per Partnership Act

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)
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14 March 2022 Sir it is confusing what to do??? suggest appropriate way to solve the issue

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 March 2022 Include legal heir and execute new partnership deed quoting old deed Clause continue the business with old PAN no body will question.

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