proprietpr + partner
This query is : Resolved
CA. NIKHIL CHITTORA
(Querist)
10 October 2016
Proprietorship + Partner in a firm
Presently i m proprietor of my firm. soon i will be a partner of newly floated partnership firm. my queries are, 1. can i continue to be a proprietor and partner simultaneously?? is it allowed?? 2. If it is allowed, will i be a full time practitioner in both the firm?? or will i be considered as part time in both the firms?? 3. Will i be able to continue my attest function in both the firms?? 4. so far as bank audit is concerned, which firm amongst the two will not be able to get the bank audit?? 5. presently all the CAs who are interested in becoming partner in new firm are proprietor of their own firms. should we float a new partnership firm or we all should merge and convert the senior most proprietor firm into a partnership firm?? What should be the best way of having this partnership looking to the empanelment criteria of CAG (Bank audit, PSU audit etc.)??
Amol S Joglekar
(Expert)
10 October 2016
01. yes
02. full time practice
03 yes
04. any one of the two.
05. choice is yours.
02. full time practice
03 yes
04. any one of the two.
05. choice is yours.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Capital Gail Exemption Certificate
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Oct 2025 Invoices
- Transfer of Physical Stock Between Two Proprietorship Concerns
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Taxation of crypto futures in India Fy 2026- 2027
- 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?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
