Merger of ca firms
This query is : Resolved
19 December 2014
Sir
I am practicing under my Proprietorship firm. Now i m thinking of partnership with one existing proprietorship Firm. The firm name will be that of other Partner's as he is having more standing.
Kindly suggest, whether i should merge my firm with his firm or close my firm & enter into fresh partnership ?
I am practicing under my Proprietorship firm. Now i m thinking of partnership with one existing proprietorship Firm. The firm name will be that of other Partner's as he is having more standing.
Kindly suggest, whether i should merge my firm with his firm or close my firm & enter into fresh partnership ?
19 December 2014
depends on many factors like how much share u have in it? how much capital contribution?how much authority u have in policy making and taking firm related decision etc
19 December 2014
Sir, The major share is of other Partner.
19 December 2014
what about the other factors...have u drafted the deed?if yes can mail me for more clarification at tusharssampat90@gmail.com
19 December 2014
Further, Income Tax Act 1961 doesn't cover that situation. therefore all actions are valid however should be reasonable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- LIABILITY ADJUSTMENT
- Average Cost Of High Quality Diamonds
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
