Partnership act

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Querist : Anonymous

Querist : Anonymous (Querist)

11 March 2014 If a new partner is admitted in partnership ,is it necessary to get the accounts revalued at the time of admission? whats the position in case of death of partner? is there any provision to get accounts revalued?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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11 March 2014 there is no provision in law for same however the concerened partner may demand it.

Querist : Anonymous

Querist : Anonymous (Querist)

11 March 2014 and in case of Retirement also the same is applicable?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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11 March 2014 legal representative may do so...

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