Partner retirement
This query is : Open
10 October 2013
what is the changes is made after retirement of the partner from partnership
Nikhil Kaushik
(Expert)
10 October 2013
as long as you still have remaining two partners, you need not dissolve it. The PAN, TAN and other tax registrations shall hold good.
11 October 2013
@ Mr Kaushik!
Please review your answer.
When a partner retires then a situation is created to dissolve it and write new Partnership Deed. Profit/Loss sharing ratio also gets changed when a partner retires.
On the date of DISSOLUTION DEED accounts books are to be closed and the Capital of retiring profit along with the profit/loss up to that date shall be carried forward as CURRENT account under New Partnership Deed.
Yes the PAN and TAN will remain same.
contact@vkbajaj.co.in
Please review your answer.
When a partner retires then a situation is created to dissolve it and write new Partnership Deed. Profit/Loss sharing ratio also gets changed when a partner retires.
On the date of DISSOLUTION DEED accounts books are to be closed and the Capital of retiring profit along with the profit/loss up to that date shall be carried forward as CURRENT account under New Partnership Deed.
Yes the PAN and TAN will remain same.
contact@vkbajaj.co.in
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