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Issue ID: 3050
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admission cum retirement deed format

Date 03 Jun 2011
Replies1 Reply
Views 77639 Views
Asked by
Partnership retirement and admission: sets valuation, exit payment, asset transfer, liability allocation, and arbitration mechanism.
Template retirement-cum-admission deed: retiring partner(s) withdraw with effect from a stated date and, following mutually agreed valuation of assets, goodwill and liabilities, receive payment credited to loan accounts on finalisation of accounts. Continuing and new partners become absolute owners of partnership assets and liabilities; retiring partners grant an irrevocable power of attorney to enable realisation and settlement of partnership estate. Continuing partners assume payment of partnership debts while retiring partners remain responsible for income tax on their pre-retirement share. The deed provides for interest on capital, working partner remuneration per tax limits, profit sharing, accounting and banking arrangements, notice for retirement, non-dissolution on death/insolvency, and arbitration for disputes. (AI Summary)

Dear sir/madam

pls send me a format of admission cum retirement deed i required on urgent basis

Email id [email protected]

 

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