PARTNERSHIP FIRM REGISTRATION

Partnership is a form of commerce or company unit or thing where two or more than two individuals move towards and join together to offer the necessary or mandatory possessions. Partnership firm is basically belongs to the businesses or commerce in which the thing created by the individuals who have the same opinion and been agreed to share profit or the loss of the business and also it is a superlative or premium choice and entity of businesses and small businesses in where two or more than two individuals also agreed and contribute to their business and shares the profit or loss of the business.

A partnership firm can also register after it is created. A Partnership is uncomplicated to form, and the conformity is also minimal as comparative to the companies. In a partnership firm there is no penalty for the non- registration but the non-registered partnership firm are denied under the section 69 of the partnership Act which creates the major effect of the non-registered partnership firm.

Ignis legal care proffers the finest or excellent services of partnership firm registration in just of few times or in the affordable or reliable in manner. So if you want to get the partnership firm registration then contact Ignis legal care by Calling on +91- 9829303123 or email Ignislegalcare for the free consultation and for to get in touch with our compliance manager.

IS IT NECESSARY TO REGISTER A PARTNERSHIP FIRM

Indian Partnership Act, 1932 governs the partnerships. Registration of partnership firm is optional and it depends on the discretion of the partners.

However it is always advisable to register the firm since a registered firm enjoy special rights which aren’t available to the unregistered firms.

CONSEQUENCES OF NON REGISTRATION

A partner of an unregistered firm cannot file a suit in any court against the firm or other partners for the enforcement of any right arising from a contract or right conferred by the Partnership Act.

No suit to enforce a right arising from an agreement can be instituted in any Court by or on behalf of a firm against any third party unless the firm is registered.

An unregistered firm or any of its partners cannot claim set-off or other proceedings in a dispute with a third party.

Therefore, an unregistered partnership firms should apply for registration as soon as possible.

MINIMUM REQUIREMENTS TO FORM A PARTNERSHIP FIRM

1. UNIQUE NAME:

Name of the firm should be unique, and it must not same or similar to the name of any existing Company, LLP or trademark which is registered or applied for.

2. MINIMUM TWO PERSON

Minimum Two persons are needed to become partners of the firm.

3.NO MINIMUM CAPITAL:

No minimum capital is prescribed; it must be based on the business requirements.

4. MAIN BUSINESS OF FIRM:

To describe business activities of the firm, main objects of the firm must be specified before its formation.

CHECKLIST FOR REGISTRATION OF PARTNERSHIP FIRM

1.       Name of Partnership Firm;

2.       Full address of Principal and additional Place of Business;

3.       Self-attested copy of Proof of Identity/Address of all partners viz. Aadhar Card/Voter ID/Driving License/Passport, anyone;

4.       Valid E-mail ID of all partners;

5.       Valid Mobile Number of all Partners;

6.       Ward Number of the address of All Partners;

7.       Main Business Activity of Partnership Firm;.

8.       One Passport Size Photo of all Partners;

9.       Profit Sharing Ratio;

10.   10.Power of Attorney;

Specimen Signature.