Partnership firm
This query is : Resolved
03 December 2015
there were two partners in a partnership firm. one of the partner expired. after 3 days of his death the wife of the deceased partner was added as a partner. my query is does the partnership dissolve on death of the partner and a new firm is created. or does the old firm continue and it is treated as reconstitution? An immediate and appropriate reply would be highlt appreciated. thanks in advance.
03 December 2015
The partnership stands dissolved on the date of death of the partner.
03 December 2015
thanks for your immediate response sir. does it mean that after the new partner entering a new firm is created? new pan and tan and all such requirements are to be fulfilled again?
CA CS Jainam Shah
(Expert)
04 December 2015
Yes your old partnership stands dissolved. Hence you cannot add new partner in the old firm. You have to create new partnership deed with his wife and you have fulfill all the requirements for creating new partnership.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
