Treatment of Proprietors Capital
This query is : Resolved
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Ajit Kumar Singh
(Querist)
13 March 2020
What is the treatment of Capital Balance appearing in Proprietorship Firms Balance Sheet if 3 legal heirs out of 4 decides to run proprietorship business as partnership firm.
05 May 2020
It will remain the same unless proprietorship is dissolved or new partnership deed is prepared among partners. You may follow the The Indian Partnership Act, 1932
https://www.mca.gov.in/Ministry/actsbills/pdf/Partnership_Act_1932.pdf
https://www.mca.gov.in/Ministry/actsbills/pdf/Partnership_Act_1932.pdf
30 May 2020
It will remain the same unless proprietorship is dissolved or new partnership deed is prepared among partners. You may follow the The Indian Partnership Act, 1932 https://www.mca.gov.in/Ministry/actsbills/pdf/Partnership_Act_1932.pdf
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