I am CA Fresher, want to start my practice. During my research for starting my own practice, I came across the few CA partnership firms they are offering to become their partner on terms that. 1. I will not be allowed to create a proprietorship firm till I am a partner in their firm. 2. I have to share some percentage of gross receipt earned by me from Government tender on basis of the Partnership Firms profile. but I don't have to share any receipt with other partners of my personal client i.e who do not become clients from Tender or empanelment.
My query is I will hold a Certificate of practice from day one of becoming a partner of a partnership firm but I will not be having proprietorship simultaneously, So what will happen if, after 5 years, I resign from partnership firm and Create my own Proprietorship Firm. So if I apply for any empanelment in the first year of my proprietorship firm, what will be my seniority, as I will be FCA having experience of more than 5 years but my proprietorship firm will be fresher with experience of less than 1 year.
CAclubindia
