Kiransinh Chauhan 29 November 2015
What is the procedure for mid term partnership dissolution ? How to effect the accounts i.e. need to file Income Tax Return for the part of the financial year for which Partnership Firm has run ? If not what are the consequances as far as accounting is concerned ?
Adv. Yogen Kakade (+ 91 9225510883) 30 November 2015
Hi,
You might have mentioned in your partnership deed about the dissolution in the dissolution of the parnership clause.
If your's is a 'partnership at will', then you can just pass a resolution of dissolution of the partnership and mention the liability of the taxes as per the norms you decide with mutual consent. It is advisable to consult your CA for the same.
Adv. Yogen P. Kakade
Jurycon Incorporation
Advocates & Consultants
Email: juryconincorporation@gmail.com
Web: www.juryconn.in
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