Question ID :
Incorporation of Partnership firm
I have been practicing as a proprietor for past 3 years and now i wanted to convert it to a partnership firm and also change the name of the firm, by doing this will i loose the 3 years seniority of the firm ??. Will i be alloted a new FRN or old FRN will continue for the reconstituted firm.
Answer ID :
Mar 03, 2022
MERGER & ACQUISITION
You first induct the partner in the existing proprietorship firm. After induction It will become a partnership firm. After that you change the name of your firm. BY doing this the seniority of the existing firm shall be maintained.
CA. JHA SHANKAR KUMAR on
Mar 31, 2022