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 9 2020 12:00AM