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

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

Replies (1)

If you will retire the 2nd partner on 31st March then the partnership firm will automatically get dissolved by virtue of law. Hence, add at least 1 partner on 31st march.

In case of any further queries, kindly mail me at casoravgupta @ gmail.com

Thanks & Regards
CA. Sorav Gupta
(Practicing Chartered Accountant)

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details