• Dr Rohit Kumar Pal
• Shivani

When a partner retires, he can typically take out his capital balances that are still in the firm account on that date. This can also typically include his share of the goodwill that he has worked so hard to accumulate over the years, and which will benefit the firm and its surviving partners long after the retiring partner has retired. A partner retires from the firm when one or more of the partners leave and the surviving partners go on with the business of the firm. A retiring partner, also known as a departing partner, is a partner who has severed their ties to the firm. The initial agreement between the partners ends when a partner retires, and the partnership firm is reconfigured. A new deal with the surviving partners may allow the business to continue. If all other partners agree, a partner may leave the partnership. In addition, he has the option to retire in line with a specific agreement made by the partners or by notifying them of his decision to do so. With the approval of all other partners, each partner in a partnership firm has the right to leave the company. This can be accomplished in the event of a partnership that was created at will by notifying each other of the change.

Retirement, Partnership, Partner

"A STUDY ON CHANGES, EFFECT AND IMPACT ON PARTNERSHIP FIRM AFTER THE RETIREMENT OF A PARTNER", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 4, page no.g753-g760, April-2024, Available :http://www.jetir.org/papers/JETIR2404696.pdf

"A STUDY ON CHANGES, EFFECT AND IMPACT ON PARTNERSHIP FIRM AFTER THE RETIREMENT OF A PARTNER", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 4, page no. ppg753-g760, April-2024, Available at : http://www.jetir.org/papers/JETIR2404696.pdf