How to merge propritorship & partnership firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 December 2018
my client has proprietorship & one partnership firm in which he is active partner. he has taken government contracts. the turnover of the individual firm or proprietorship is not upto the condition in which contract is given. if both the firm merged then condition of the turnover is fulfiled. in such situation kindly give me advise
CA Mohit Bansal
(Expert)
25 December 2018
there is no such method or procedure is specified by the law for merging proprietor and partnership. For the sake of presenting clubbed figures you may simply consolidate the financials of the two firms in that way your purpose may fulfil.
26 December 2018
You just have to prepare a amendment deed of partnership for the admission of the proprietor to the partnership firm and get it notarized.
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