Partnership firm accounting
Querist : Anonymous
One of my client have started business as Proprietor now during 11-12 i.e.01/07/2011 he converted it into Partnership Firm.
But all Invoices & other Bills issued in the name of Proprietor name & PAN so TDS also deducted on the name of Proprietor only.
Now on paper no business is there on P'ship Firm. Can you please guide me how we can account for so that some business can be reflected in P'ship Firm name.
Querist : Anonymous
We can show all business & TDS in the books of P'ship Firm after MOU is done.
Am I right?
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