A,B,C,D are partner in a firm. "b" dead than what legel incometax liability laived ?
1.partnership dead amendment if 3 partner left. in 1000/- stemp paper new deed we will write?
2.if b's wife enter as his place then same procedure v wil do?
3.in ITax department we gave a copy of new deed?
please wxplain me full legal work about partnership firm if amendment .
If the partner is dead and there is no clause in partnership deed that in case of death of any partner the firm will not stand dissolved then the existing is deemed to be dissolved and accordingly new partnership deed and firm will be made. If such clause is there then remaining partners will continue in same name and deed for admission of his wife will be made. old firm will not be able to carry forward amount of loss propotionate to the dead partner's share.
For any kind of further clarification, you can write me on ganatraneil @ gmail.com
Dear Sir,
Do we have to register the Amended Partnership Deed, if so pl. brief us the details with regard to this.
regards
Ravishankar
CAclubindia
