1. Who Can Apply? All partners collectively of a partnership firm. The application must be signed by all partners. 2. Manner of Making the Application The application for registration is made to the Registrar of Firms in the state where the firm has its principal place of business. Steps: Prepare thRead more
1. Who Can Apply?
All partners collectively of a partnership firm.
The application must be signed by all partners.
2. Manner of Making the Application
The application for registration is made to the Registrar of Firms in the state where the firm has its principal place of business.
Steps:
Prepare the Partnership Deed
Includes firm name, principal place of business, partners’ names and addresses, capital contributions, profit-sharing ratio, and terms of partnership.
Fill Form A (Application for Registration of Firm)
Submit details such as:
Name of the firm
Principal place of business
Names and addresses of partners
Duration of partnership (if applicable)
Date of commencement of business
Attach the Partnership Deed
The deed must be signed by all partners and notarized or attested if required by state rules.
Pay Registration Fees
The fee varies by state (usually nominal, e.g., INR 500–1000).
Submit to the Registrar of Firms
The Registrar reviews the application and, if satisfied, issues a Certificate of Registration.
3. Time Limit for Registration
No strict time limit is prescribed under the Partnership Act for registering a firm.
However, for legal advantages under Section 69 (ability to sue a partner or enforce the deed in court), it is advisable to register as soon as the partnership is formed.
Section 69 also allows an unregistered firm to get registered after formation, but the unregistered status may restrict civil suits until registration is done.
4. Legal Consequences of Registration
Registered firm:
Can sue partners to enforce the partnership agreement.
Registration serves as proof of the firm’s existence and terms of partnership.
Unregistered firm:
Exists legally as a partnership, but cannot file a suit in a civil court to enforce rights against partners (Section 69(2)).
1. Who Can Apply? All partners collectively of a partnership firm. The application must be signed by all partners. 2. Manner of Making the Application The application for registration is made to the Registrar of Firms in the state where the firm has its principal place of business. Steps: Prepare thRead more
1. Who Can Apply?
All partners collectively of a partnership firm.
The application must be signed by all partners.
2. Manner of Making the Application
The application for registration is made to the Registrar of Firms in the state where the firm has its principal place of business.
Steps:
Prepare the Partnership Deed
Includes firm name, principal place of business, partners’ names and addresses, capital contributions, profit-sharing ratio, and terms of partnership.
Fill Form A (Application for Registration of Firm)
Submit details such as:
Name of the firm
Principal place of business
Names and addresses of partners
Duration of partnership (if applicable)
Date of commencement of business
Attach the Partnership Deed
The deed must be signed by all partners and notarized or attested if required by state rules.
Pay Registration Fees
The fee varies by state (usually nominal, e.g., INR 500–1000).
Submit to the Registrar of Firms
The Registrar reviews the application and, if satisfied, issues a Certificate of Registration.
3. Time Limit for Registration
No strict time limit is prescribed under the Partnership Act for registering a firm.
However, for legal advantages under Section 69 (ability to sue a partner or enforce the deed in court), it is advisable to register as soon as the partnership is formed.
Section 69 also allows an unregistered firm to get registered after formation, but the unregistered status may restrict civil suits until registration is done.
4. Legal Consequences of Registration
Registered firm:
Can sue partners to enforce the partnership agreement.
Registration serves as proof of the firm’s existence and terms of partnership.
Unregistered firm:
Exists legally as a partnership, but cannot file a suit in a civil court to enforce rights against partners (Section 69(2)).