Partnership & proprietary firm for practice

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 May 2015 Is it possible that I can practice in my proprietary name and also be a partner in a firm (Only two Partners - incl. me). I shall not apply for Bank Audit in my name. Will it have any bearing for allotment of bank audits.
At my place of practice, no client will pay or reimburse the service tax. so individual practice is only beneficial.
Please advice.

Thanks in advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 May 2015 Yes it is possible for you to practice in your proprietary name and also be a partner in a firm. If the firm applies for bank audit you should not apply for bank audit in your name, then there is no problem in allotment of bank audit.

Querist : Anonymous

Querist : Anonymous (Querist)

12 May 2015 Thank you Seetharaman Sir for your prompt reply and guidance.

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