25 April 2013
You have to first send a notice of resignation to the other Partners. If it is on mutual agreement, you must finalise the accounts of the Partnership on a cut off date and arrive at the profit or loss as the case may be and determine the amount due to you as per accounts plus value of goodwill if any as agreed. You must then enter into a Deed of Retirement of Partners and if they are only two Partners a Deed of Dissolution after settling the dues. Then you have to give notice of Retirement or Dissolution to the respective Registrar of Firms where the firm is registered, if any. As per the stamp Act, it should be on a Rs.150/- value stamp paper.
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