TMI BlogAdmission cum retirement in case firmX X X X Extracts X X X X X X X X Extracts X X X X ..... In case of a partnership firm with two partners, whether the admission of two new partners and at the same time retirement of the old two partners could be possible. What could be the effect from the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... point of view of income tax, if the firm is having any immovable property in its fixed assets such as office premises, etc. Whether such arrangement is possible to keep partnership firm in existence. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... OR Whether such admission cum retirement may be held / treated as dissolution by any revenue department such as income tax, excise, vat, etc. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = It is d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... epending upon your partnership agreement. If there is no agreement as to the effect of retirement of partners, the partnership will be dissolved on retirement. If there is a clause that the partner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ship will continue even if any of the partner retires, then it will exist and the new partners may be included by inserting to the ratio of the liability/profit sharing. - Admission cum retirement in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case firm - Query Started By: - shyam mhaskar Dated:- 16-4-2014 Other Topics - Got 1 Reply - Indian Laws - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Manag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ement India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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