'A' sole proprietorship CA firm established in 2010 and 'B' sole proprietorship CA firm established in 2016 are going to be merged into a partnership firm. Regarding seniority of the Merged Partnership firm, is it from 2010 or 2016 or 2018?
Adityan A (Chartered Accountant) (27 Points)
31 July 2018'A' sole proprietorship CA firm established in 2010 and 'B' sole proprietorship CA firm established in 2016 are going to be merged into a partnership firm. Regarding seniority of the Merged Partnership firm, is it from 2010 or 2016 or 2018?
Prajjwal Kaushik
(Finance Professional)
(6216 Points)
Replied 31 July 2018
Actually, it will depend on the name of the new firm that you are establishing. ICAI has released rules for the same and I'll advice you to have a look at them.
Following are the scenarios possible:
Also, you would be required to file an application to the ICAI for the approval of the same.
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