When need to get partnership firm registered?

    Posted By : Divya Saluja / Published on : 27-Sep-2018 11:15 PM / View : 122 / Comment : 1
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    Dear Member, Please Suggest me is it necessary to get Partnership firm registered or Is there is any limit after crossing that I need to get my partnership firm registered?
    Read more on : registered firm partnership need

    • Hi Divya,

      A Partnership is defined by the Indian Partnership Act, 1932, as 'the relation between persons who have agreed to share profits of the business carried on by all or any of them acting for all'. It can be formed by at least two members (A Natural Person or of a Legal Existence) and a maximum of 50 Members as of now.

      Registration of Partnership Firm is not Mandatory as per Indian Partnership Act, 1932. But if someone wants to get it registered for Legal Existence then they have to get it Registered at Registrar of Firms. They have to submit a Partnership Deed along with an Affidavit certifying that all the details mentioned in deed and documents are correct.

      Additional Documents Like PAN Card, Address Proof of Place of Business, ID Proof, Photo and Address Proof of Partners, Bank Account details, Authorization Letter and DSC etc. is required to get it registered under Goods and Services Tax (GST).

      Generally, a partnership deed is written to avoid any future conflict but it may be in oral too. Partnership deed is created on a judicial stamp paper of Rs. 2,000/- and has to be signed by all the partners. It contains rights and duties of the firm and the partners.

      27-09-2018 / 06:43:45 PM

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