Amendment of partnership firm


A registered partnership firm has 3 partners as on date. One of the partner wants to quit the partnership. Other two partners collectively decide to add 3 more partners to the same firm. Now the questioned are:

In which format they can amend their partnership deed?

How much STAMP DUTY require for amendment? (At the time of registration Rs. 500/- stamp was used)

Thanks & Regards

 
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Jadhav & Associates

On the quitting of a partner, his share could be distributed amon the existing partnership. In the same agreement or it is better to make a separate document to incorporate the new partners.

It is the same procedure like your forming the partnership.

Please make a registered partnership as it is beneficial for all the partners in future.

S Jadhav


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Chartered Accountant

what you cna do is to revise your deed where in old partner retires and new partners admitted along withthe supporting like valuation to whihc new parner agreed and new PSR how the share of retiring is distributed.

 
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