partnership act

[nilesh oza]

We were 2 partners one partner died and on same date new partners added does firm continue with same registration

[DR.MARIAPPAN GOVINDARAJAN]

It depends upon the partnership agreement. You have to go through the same and act accordingly.

[nilesh oza]

We were a firm with 2 partners and one partner died and on same date new partners were added. In old partnershipdeed there was a clause where either one of the partner dies or retire his legal heirs can continue with the business. Do i have to take new vat registration in mumbai or continue with the old registration with ammendment letter to sales tax authority. They say i have to cancel my old registration no and apply for new one pleaseguide me for this matter

[DR.MARIAPPAN GOVINDARAJAN]

As per the partnership agreement the partnership firm is not dissolved and the same may continue. No fresh registration, in my opinion is not required to be obtained. But you have to incorporate the changes in the certificate of registration and the same may be intimated to the authorities concerned.

AI Summary

Partnership Firm's VAT Registration: Amend or Reapply After Partner's Death and New Additions? Guidance Sought. A query was raised about the continuity of a partnership firm's VAT registration after the death of a partner and the addition of new partners. The original partnership agreement allows for business continuation by legal heirs. One respondent advised that the firm may continue without new registration, suggesting the need to amend the existing registration and notify the authorities. The discussion focused on whether the firm should cancel the old registration and apply for a new one, with guidance sought on the appropriate steps to take.