Question ID :
43329
Conversion from Sole Propreitorship into Partnership
I am sole proprietor with trade name registered under ICAI in the month of Sep 2019. Can i apply/ am i eligible for MEF for 22-23, since i am going to complete my three years in Sep 2022. Can i convert my sole propreitorship into partnership firm ? does the conversion into partnership firm will affect the seniority of my firm and would i still be eligible for bank audits after conversion ?
Posted by
ravi kishore bhagi
on
Jul 20, 2022
Filed Under
MERGER & ACQUISITION
Yes. You can file MEF. If the name of firm after conversion will not change, it will not affect the seniority of your proprietorship firm.
Posted by
CA. chunauti dholakia on
Jul 22, 2022
Answer ID :
83548
You firm is eligible for MEF for the FY 2022-23. It is not required to convert the firm into a partnership firm for MEF. If the name and ICIA FRN for the firm remains the same then conversion will not impact its seniority.
Posted by
CA. JHA SHANKAR KUMAR on
Aug 01, 2022
Answer ID :
83675
no
Posted by
CA JEET REWRI on
Aug 31, 2022