Merger of ca firms
This query is : Resolved
19 December 2014
Sir
I am practicing under my Proprietorship firm. Now i m thinking of partnership with one existing proprietorship Firm. The firm name will be that of other Partner's as he is having more standing.
Kindly suggest, whether i should merge my firm with his firm or close my firm & enter into fresh partnership ?
I am practicing under my Proprietorship firm. Now i m thinking of partnership with one existing proprietorship Firm. The firm name will be that of other Partner's as he is having more standing.
Kindly suggest, whether i should merge my firm with his firm or close my firm & enter into fresh partnership ?
19 December 2014
depends on many factors like how much share u have in it? how much capital contribution?how much authority u have in policy making and taking firm related decision etc
19 December 2014
Sir, The major share is of other Partner.
19 December 2014
what about the other factors...have u drafted the deed?if yes can mail me for more clarification at tusharssampat90@gmail.com
19 December 2014
Further, Income Tax Act 1961 doesn't cover that situation. therefore all actions are valid however should be reasonable.
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