Admission cum retirement in case firm

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..... Admission cum retirement in case firm
Query (Issue) Started By: - shyam mhaskar Dated:- 16-4-2014 Last Reply Date:- 4-11-2015 Other Topics
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Indian Laws
In case of a partnership .....

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..... 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 point of view of income .....

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..... 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. OR Whether such admissio .....

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..... n 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 depending upon your partnershi .....

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..... p 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 partnership will continue even if any o .....

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..... f the partner retires, then it will exist and the new partners may be included by inserting to the ratio of the liability/profit sharing.
Discussion Forum - Knowledge Sharing .....

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