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Querist : Anonymous

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Querist : Anonymous (Querist)
21 September 2013 Dear Sir,
There is a partnership firm consisting of 5 partners. Now 4 partners wish to retire and single remaining partner will carry the the business by joining a new partner with him.

Now please advise me on following points-

1. for the above purpose how many deeds I have to draft.
2. Whether the firm has to apply for new PAN
or
Old Pan will work.

Please reply soon.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 September 2013 You can do via one deed too..else get the new partner first and then amend deed for retirement of 3 partners.

Old PAN will work.
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