The Tax Publishers

Partnership Firm--Registration

Registration of Partnership Under Indian Partnership Act, 1932

Pragya Lalwani

The Partnership Act does not require registration of a Firm as a mandatory process, however, only registered firms are considered legally existing. The firm can get registered any time before the existence or during the continuance of the partnership. Learned Author in this process takes you to the process of registering a Partnership Firm.

1. Introduction

A Partnership firm is one of the most significant forms of business organization. Where two or more persons come together to form a business and divide its profits and losses in an agreed ratio, then it is a partnership firm. The type of business organization includes any kind of business, occupation, trade and profession. The partnership firm is easy to form and has to adhere to very little compliance as compared to a company. Also the decision-making process in a partnership firm is quick as compared to companies as ownership and management both lies with the partners. The partnership firm can be incorporated only by drafting the partnership deed and getting it stamped and registered. It is even optional to register a partnership firm with Registrar of Firms. If partner want it to get registered, they have to apply for it to the Registrar of Firms. Process of the same is enunciated in this article.


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