How can I change the date of formation of an existing partnership firm?

Reconstitution of partnership takes place when there is any change in the partnership i.e. business, profit sharing ratio, office address etc. signed in the existing deed. These changes can be constituted in the existing partnership by drafting supplementary deed with proper franking and notarization on the same.

The date of formation of the firm is the date mentioned in the partnership deed when it comes into existence, it cannot be change afterward at any point of time in future. The PAN is also issued by the Income Tax department on the date of the Deed Formation.

Following are some occasions where reconstitution of partnership can take place:

• When there is change in profit sharing ratio.

• When a new partner is admitted to the firm.

• There is retirement of the existing partner.

• In case of death of the partner.

• When there is amalgamation, merger or demerger of the firms.

Thus, the date of formation of an existing partnership firm cannot be change.

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