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Question ID : 40864

Conversion of Proprietory firm to partnership firm

Hi all, I am having a proprietary firm since 2011. Now one of my junior have qualified CA and wanted to be my partner. In this regard my concerns are; 1.Will I lose the years of experience of my proprietary firm when it becomes a partnership firm? 2.Will the year of formation (for counting the 3years criteria) for bank audit be 2011 or 2020? Thankyou in advance.

Posted by MALU NAIR on Oct 09, 2020

Filed Under MERGER & ACQUISITION

Answer ID : 81287

You can admit junior as your junior qualified CAin SS Portal firm's seniority will be not affected

Posted by Hari Beldona on Aug 30, 2021