Retirement of all partner except one

If there are 4 partner. Out of 4 partner, 3 partner decided to retire but 1 partner decided to carry on the business. What is the provision for such case. If the firm is dissolve?? 

Replies (6)

Yes Pertnership Frim will be Dissolved.

so we have to make DISOLUTION DEED. and what about one partner who want to continue with business as proprietorship.  What we have to do for that.

Yes you will have to make dissolution deed.

 

Business of partnership will be acquired by the partner who wants to continue business. The amount payable by the partner who wants to continue to the rest of three partners will be as under,

Square up all assets and liabilities accounts and transfer the balances to all partners’ capital accounts in respective ratio.

Example, There are Four partners A, B, C, D. A wants to continue, if after squaring up all assets and liabilities accounts there is Credit balance to the partners' capital accounts as under,

A–Rs. 100

B- Rs.200

C- Rs.500

D-Rs.200

Then A will pay B, C, D, Rs.200, Rs.500 and Rs.200 respectively.

 

Regards,

CA. Devanand Jethanandani

means that single partner can continue the business as proprietor.

If We have to make any deed for that single partner??? or after retiring of 3 partner, single partner will automatically be consider as proprietorship concern after making dissolution deed.

And thanks for your response.

 

Yes, if one of the partners is willing to continue the business.

No deed is required for proprietorship.

Dissolution is just a procedure to end a partnership firm.

 


 

Please share Dissolution deed format

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details