banner_ad

Sale of Firm

267 views 7 replies

A partnership firm consists of 4 partners. The partners are willing to sell the firm to two people who shall be the new partners in the firm.

Which deed/agreement is to be drafted for this?

The new partners should pay for share in firm to which account - partners saving account or firm?

Replies (7)
New partners should pay amount to firm's account and from firm's account to outgoing partner's savings accounts.

Deed for change in constitution of the firm should be drafted.
like details of incoming and outgoing partners and other conditions should be written.
New partnership agreement should be drafted and the existing partnership agreement should be liquidated.

New partners should pay to firms account
Yeah, agreed with sourav
A new firm will take over the existing firm by paying the acquisition price directly to partners.
then the pan and gst number of old firm will be surrendered

Veerendar Ji, I think you went wrong in understanding.

The old partners will leave and new would take over the business in as in basis with all assets and liabilities of the existing firm and continue business operations in the same name

If you think that i have misunderstood then you havent really paid heed to the previous three comments.
I'm agreed with my previous answer


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details