Retirement of all partner except one

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