Re constitution of a pertnership having two partner one retire and t nw three admits


02 March 2023  

Dear Experts

In a case where a form having  two partners  decided to retire  one and admits new three partners. My doubt is regaqrding the date of reconstitution. Infact  they  want to  re constitute with new partners  from next Financial  year, ie w.e. f 01-04-2023, however, th retiring partner  to be settled with  the accounts as on 31-03-2023. In this case  which date is to be stated  as the date of reconstitution 31-03-2023 or 01-04-2023. 

Thanks in advance