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Retirement & admission of partner

26 July 2012

Please Experts

Can any one please help me on What is the procedure to be followed for registration of retirement deed (partnership) under partnership act ? Is there any specific forms to be filed ?

(Now one partner is going out as a retirement and a new partner is coming in as a new admission)

(Original partnership deed was registered with Registrar of Firms, Tamil Nadu )

Please help me immediately. Thanks

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1 Replies

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 29 July 2012

1. you have to make a deed of dessolution of partnership under registrar of assurances and pay appropriate duty for registering the same. get a certified copy of same from registrar of assurances.

2. ,make another deed of fresh partnership and get copies of same

3. after getting both copies apply to registrar of firm for deletion of old partner and inclusion of new partner.

3. intimate the incometax department and other departments where the firm is registered and get the registrations(s) amended.