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unni anand   13 February 2019

Partner ship deed

if one partner want s to retire form a partner ship deed of two, what will be the company( Properitorship on its own or should we have to dissolve the company and re register as a properitorship firm) What is to be done witht the PAN and GST of the partnership firm. Please guide on this


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Suhail suhail (LAWYER)     13 February 2019

 DEFINITION OF “ PARTNERSHIP”, “FIRM”, AND FIRM” NAME” -- Partnership” is the relation between persons who have agreed to, share the profits of a business carried on by all or any of them acting for all. Persons who have entered into partnership with one another are called individually “partners” and Collectively “a firm”, and the name under which their business is carried on is called the “firm name”

For any pertnership there shall be minimum of two individuals...

If among the two partners  one retiers that means the partnership breaks, you need to dissolve in the manner prescribed under the Partnership Deed. All the assets and liabilities of the Firm will be distributed among partners in ratio decided mutually. Further, the PAN and any other tax registrations in the name of Partnership Firm shall be surrendered by the partners on its dissolution.

The r Partnership regiterd cannot be  changed in name of Proprietorship Firm.

First dissolve the  Firm, the partners need to surrender the Gst Registration and subsequently obtain fresh registration in Name of Proprietorship Firm in the same name.

Visit for dissolving the partnership  online;

www.legalwiz.in/dissolution-of-partnership-firm-india  

For Propritorship do online;

www.legalwiz.in/register-sole-proprietorship-firm-in-india

 

First dissolve the firm and then register..

 

That is is enough no more questions from you...

 


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