Partnership

RAJESH CHOPRA (Querist) 26 September 2013 This query is : Resolved
A partnership firm ABC came into existence on 28.03.2003 with 3 partners. On 04.01.2005 one of the partner retired and a new partnership deed was executed between the remaining 2 to carry on the same business with same address and name with new terms and conditions. New deed was prepared on 05.01.05. Pls advise from point of view of opening Banks account what will be the Date of incorporation of this newly constituted partnership.

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Ms.Nirmala P.Rao (Expert) 26 September 2013
Dear Client,

Unless, there is a contract to the contrary, the date of the New Deed of the reconstituted partnership firm is the date of incorporation.