What are the minimum requirements for allowing to change in the partnership by induction of new partner.
Is the new deed mandatory or a simple representation by any one partner shall be acceptable..
what is mandatory as per law for a CA to obtain from client
Change of partner means change in the constitution of partnership deed. The partnership deed will have to be revised, and sent to IT dept along with ITR. Or else remuneration paid to new partner shall be disallowed.
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
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