We 4 persons had started a Partnership firm and now one of the persons wants to retire from the firm voluntarily. What is the procedure I should do?
Thanks & Regards,
1 Answer from Attorneys
Dear Sir / Madam,
You should draw up and file the retirement deed of the partner, prepare the accounts of the firm as on the date of retirement, and settle the partner of his Capital and accumulated profit (including share of Goodwill).
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