Partnership Firm Registration as per Partnership

Partnership Firm Registration as per Partnership

As per the Partnership Act 1932, it's not mandatory to get certification of Partnership Firm Registration. The firm doesn't have a separate legal identity, and registration won't alter this reality. However, registration is that definite proof of the firm's existence and lawfulness.

Effects of Non-Registration Of Partnership Firm Are Given Below :
The firm cannot file legal proceedings against any third party for any scenario. For example, if the client has not paid his dues to the firm, the firm cannot sue him if it's unregistered.

An unregistered firm cannot file a case against a partner for any reason (like misdirection, theft etc.)

Procedure for Partnership Firm Registration

Procedure for Partnership Firm Registration

According to the India Partnership Act 1932, there's no limit in and of itself for the registration of a firm. The firm is registered on the date once it's incorporated or any such date

Step 1: Application to the Registrar of Firms in the prescribed form (Form A).
As Usual all the things done on the digital platform so you will get Partnership Firm Registration Online. Such an application should contain basic details regarding the firm like:

  • Name of the Partnership Firm
  • Name and address of all partners
  • Place of business (address of main and branch offices)
  • Duration of the partnership
  • Date of appointment of partners
  • Date of commencement of business

Step 2: Decide the name of the partnership firm:
Any name is given to a firm is mention on the Partnership Firm Registration Certificate. However, certain conditions have to be compiled to be followed while choosing the name:

  • The name must not be similar to or clone of any existing firm
  • The name must not contain words like an emperor, empire, queen or other that show any sanction or approval of the central government.

Step 3: Documents for registration:

  • Application for registration of partnership
  • Certified original copy of Partnership Deed.
  • Specimen of an affidavit certifying all the details mentioned within the partnership deed and documents are correct.
  • PAN Card and address proof of the partners.
  • Documentation demonstrating that the address listed is the primary location of the business.
  • If the Registrar is satisfied with the documents, he can register the firm within the Register of firms and issue a Certificate of Registration.
  • Register of firms contains up-to-date data on all firms and can be viewed by anybody upon payment of certain fees.

Step 4: Preparation of partnership Deed:

  • In the next step, all the partners are mutually needed to draft a partnership deed on stamp paper.
  • Details regarding the Firm and its partners, like the name and address
  • Nature of the Business
  • Details concerning the capital contribution created by every partner
  • Profit and loss sharing magnitude relation among all the partners
  • Interest on the amount of capital invested with Details of the drawings made by the partners or the loans provided by partners Salaries, commissions or the other such amount to be payable to the partners Rights and duties or obligations or responsibilities of every Partner
  • A method which can be shady in the case of retirement or death or incapacity of any partner

Step 5: Partnership firm registration fees

The government fees for a partnership firm registration vary from state to state, depending on the partner's contribution.

Services included in the Partnership Firm Registration Plan cost are as follows:

  • PAN application
  • Partnership deed drafting
  • Filing of deed and different documents with the Registrar of corporations
  • Issue of registration certificate
  • 100% online process

Step 6: Partnership firm registration certificate download

If the Registrar is satisfied with the registration application and the documents, he will register the firm in the Register of Firms and issue the Registration Certificate. The Register of Firms contains up-to-date info on all firms, and anybody can read it upon payment of certain fees. An application form and fees are to be submitted to the Registrar of Firms of the State where the firm is located. The application needs to be signed by all partners or their agents.

Registration of partnership firm in Maharashtra

Registration of partnership firm in Maharashtra:

It is necessary to possess the subsequent documents when registering a partnership firm in Maharashtra:

  • Certified copy of partnership deed
  • Certified copy of Marathi Translation Partnership Deed
  • Rs.10 blank stamp paper
  • An authority letter signed by firm partners
  • Covering letter with Rs.5 court fee stamp
  • Demand Draft of Rs.1,600

How to check partnership firm registration status online/offline?

You have to go to The Office of Registrar of Firms of The state and inquire about the status of partnership firm registration at the Registrar's office. The facility of partnership firm registration number check online is not Yet Available in every state, but some States have that facility.

How to check partnership firm registration status online/offline?

Partnership Firm Registration Certificate Download:

  • Go to e-registration if forms
  • Click on the download of registration certificate
  • Enter the details of the firm registration number, registration district, registration year, and registration name.
  • Get the certificate downloaded
  • Checklist for partnership registration:
  • Drafting of Partnership Deed;
  • Selection of an appropriate name;
  • There should be not more than twenty partners;
  • A minimum of two members are needed as partners;
  • Principal place of business
  • Bank Account & PAN Card of the Firm.

Partnership Firm Registration in India is done by Online XBRL so you can connect with us for more info.

Frequently Asked Questions

Procedure for Registering a Partnership Firm

A registration form must be submitted to the Registrar of Firms for the state where the business is located, along with the required fees. The application for registration must be confirmed and signed by the partners or agents.

It is not required for a partner to be registered as a business following the provisions of the Partnership Act 1932. It is, however, recommended to sign up with a partner company. If the company isn't registered, it will not be able to benefit from any legal advantages available to the company under the Partnership Act 1932.

The Process of GST Registration for a Partnership Firm:

Any firm, company, or person who purchases or sells goods or offers services need to be registered as a subject of Goods and Services Tax (GST) to benefit from the advantages of the tax credit for input.

In partnership firms that are not registered partners cannot pursue the legal route against the co-partner. Contract breaches or conflicts of interest cannot be dealt with by law for non-registered partnerships. In a partnership that isn't registered, the partners cannot exercise their rights.

A Partnership Company is a joint agreement between two or more people to manage the company and mutually share the profits and losses. A company is a group of people who aim to provide clients with products and services.