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Entering into partnership.

CA Paritosh Jaisalmeria (Doing CFA-USA) (90 Points)

22 December 2012

Hey suppose a CA is having is sole proprietorship firm enters into partnership with another CA, so are they supposed to apply for PAN? Can anybody explain me the procedure for the same.

Also the former CA is fresher whereas the latter is FCA? so for the purpose of getting bank audit will the latter CA 's experience be of any substance and can we enlighten that in our BIODATA for getting empaneled for bank audit?

PLEASE URGENT.

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7 Replies

Karan Teli (Life Is just an Illusion...!!) (4573 Points)
Replied 22 December 2012

Yes Pan has to be applied for seperate frim and the previous persons (FCA) experience is counted since the word FCA is valued much in bank audits, CAG etc.,

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CA Paritosh Jaisalmeria (Doing CFA-USA) (90 Points)
Replied 22 December 2012

Can u please guide me about the procedure to be followed for conversion.

Karan Teli (Life Is just an Illusion...!!) (4573 Points)
Replied 22 December 2012

Procedural aspects - I am seriosuly not aware but i can say that it normal procedure has to be followed like entering partnership deed, fixing remuneration and appointing managing partner.

Seperate PAN has to be applied and the procedures are normal for it

Feel free to revert back.

CA Paritosh Jaisalmeria (Doing CFA-USA) (90 Points)
Replied 22 December 2012

And while applying for the PAN what are the documents to be submitted?

CA Paritosh Jaisalmeria (Doing CFA-USA) (90 Points)
Replied 22 December 2012

I mean we are required to register partnership deed with ICAI ,so while applyin for PAN m i supposed to submit deed or the intimation which institute will be giving me back on being registered.