Relating to rbi guidelines

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 January 2017 Hello
I am a Chartered Accountant and I have a sole proprietorship concern and I want to join a partnership concern.
Should I have to close my sole proprietorship concern to take the benefits of partnership concern ??

31 January 2017 You can merge the sole prop concern with the firm.

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 January 2017 Sir,
The partners of other firm are not ready for merger.
Can I have my sole proprietorship and be a partner in other firm ?

31 January 2017 Yes you can do so no problem. But obtain consent of other partners. You will not be considered as full time partner of the firm for allotment of bank audit by RBI.

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 February 2017 Sir,
Will this effect my sole proprietorship standing or any other thing if after 2 or 3 years I discontinue my partnership with them ??

03 February 2017 It will not affect your sole prop standing and it is better option.


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