Do I need to change partnership deed?

There are 4 partners in partnership firm. 1 is individual and other 3 are seperate kartas of their HUF.

Now one of the karta was died. His son is now a new karta.

Is it required to change partnership deed ?

Replies (2)
Quick Summary
When a Karta partner in a firm dies, their son typically becomes the new Karta representing the HUF. While the HUF itself continues, it's often necessary to update the partnership deed to reflect this change in representation. This ensures the legal agreement accurately shows the current partners and may involve obtaining a succession certificate and executing a supplementary deed.

In the event of the demise of one of the Karta partners, the partnership deed may need to be revised to reflect the change in the HUF's representation.

Legal Implications: - *HUF Representation*: As the new Karta, the son now represents the HUF in the partnership. This change in representation may require updates to the partnership deed. -

*Partnership Deed*: The partnership deed serves as a contractual agreement between the partners. Revising the deed to reflect the change in Karta ensures that the partnership's legal framework accurately represents the current partnership structure.

Necessary Steps: - *Obtain a Succession Certificate*: The son, as the new Karta, should obtain a succession certificate to establish his authority to represent the HUF. -

*Update Partnership Deed*: The partnership deed should be revised to replace the deceased Karta's name with the new Karta's name, ensuring that the partnership's legal framework accurately reflects the current partnership structure. -

*Execute a Supplementary Deed*: The partners can execute a supplementary deed to the original partnership deed, outlining the changes and updates resulting from the change in Karta.

 

as such you may not amend the deed as long as the HUF continues to exist. The karta is only there in his representative capacity. 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
08 August 2026
International Corporate Tax Advisory

Shulke

Bengaluru

CA

View Details
Company
ARTICLESHIP 08 August 2026
Article Assistant

Sanath Sheshagiri & Co.

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 24 August 2026
Chartered Accountant Articles

Rohit KC Jain & Co

New Delhi

CA Inter

View Details
Company
24 August 2026
Semi-Qualified CA/CA Finalist - Tax, GST, Audit & Accounts

Bharat Shah & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details