How to register a firm under the Indian partnership Act?

by Gaurav Bansal Company Registration Consultants in Delhi

A partnership firm Refers to a business entity where a partnership is formed between two or more individuals to run a business. Each partner has a role to play in terms of investment and responsibilities. Through the course of this article, you shall learn about Registration of firms under the Indian Partnership Act.

Steps to register a partnership firm

1.       Step 1: Name your partnership firm: In order to ensure that the name that you choose is the right one, take care of the following things:

a.       Make sure that the name isn’t either similar or identical to an already existing business firm or company

b.      Make sure that the name does not contain offensive, superlatives or generic terms.

2.       Step 2:  Get a partnership Deed drafted. This is an important matter and it details the rights, responsibilities and other obligations of the partners of the firm. It should entail the following details:

a.       Name and address of the partners of the firm

b.      Nature of the business

c.       Date at which the firm started functioning

d.      Capital details of each of the partner

e.      How much profit and loss is shared among the partners

f.        Some auxiliary rights and responsibilities, if any

3.       Step 3: Gather the documents required to register a partnership firm: These documents are the following:

a.       An application for partnership firm registration

b.      A specimen of the affidavit

c.       A certified original copy of the partnership deed you drafted in step 3

d.      Residential proof of the place where the firm exist

4.       Step 4: File the application for partnership Firm registration:

a.       Once you have collected the documents submit it to the registrar of partnership firm

b.      If the registrar approves of the application, a certificate of registration is generated and forwarded to the partners.

This is how to register a partnership firm. For more information about this regard, you check the checklist of the documents required for the firm Registration.

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Created on Feb 4th 2019 23:40. Viewed 351 times.

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