Interested to Buy Any Domain ? << Click Here >> for more details...
Let me know rgarding the registration of partnership firm
- 1 Answers
- 2660 Views
- Wipro, I also Faced
- E-Mail Answers
Answer Posted / murali krishna
Partnership firms in India are governed by the Indian Partnership Act, 1932. While it is not compulsory to register your partnership firm as there are no penalties for non-registration, it is advisable since the following rights are denied to an unregistered firm:
• A partner 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
• A right arising from a contract cannot be enforced in any Court by or on behalf of your firm against any third party
• Further, the firm or any of its partners cannot claim a set off (i.e. mutual adjustment of debts owned by the disputant parties to one another) or other proceedings in a dispute with a third party.
Registration Procedure: A partnership firm can be registered whether at the time of its formation or even subsequently. You need to file an application with the Registrar of Firms of the area in which your business is located.
• Application for partnership registration should include the following information: – Name of your firm – Name of the place where business is carried on – Names of any other place where business is carried on – Date of partners joining the firm – Full name and permanent address of partners. – Duration of the firm
• Every partner needs to verify and sign the application
• Ensure that the following documents and prescribed fees are enclosed with the registration application :
– Application for Registration in the prescribed Form – I
– Duly filled Specimen of Affidavit – Certified copy of the Partnership deed
– Proof of ownership of the place of business or the rental/lease agreement thereof It may be noted here that the name of your partnership firm should not “contain any words which may express or imply the approval or patronage of the government except where the government has given its written consent for the use of such words as part of the firm’s name”. Once the Registrar of Firms is satisfied that the application procedure has been duly complied with, he shall record an entry of the statement in the Register of Firms and issue a Certificate of
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
if we have credit 50 % rg23c part ii first and not credit next balance 50 % .when we have do?
What is Acquisition?
Difference Between Revenue & Capital Expenditure (Give an Example of each )
hi guys, pls refer me how to preppare for Indian Bank exams.
what is Functional Specification in SAP FICO?
If income and expense both are equal then what it depicts
is anybody attended interview in ernst&young for EMS PROCESS , pls let me know abt the written test and what type of report writing
the total of a firm id a rs.6.4 lakh.he has gross profit margin 15% curre ratio of rs.2.5 the firm current libility is rs.96000,inventry, rs.48000 and cash rs 16000. determine the average inventry of firm iss 5 times determine the avg collectin period of opening balance.
You been asked to prepare a training class for completing expense statements. What points will you emphasize to insure accurate expense statements are submitted?
Who will be called as consignee
3.In TALLY,we used to call tally erp 9.like that,in sap we used to call SAP ECC 6.0.here what is ECC?,i know the abbreviation of ECC.i want to know the role of ECC?
explain Dual entry concept
Raju put labour charges bill for Rs 65000/- You are directed to deduct 5% security deposit and 1.15% TDS from the bill. Pass journal entry for it
what is the process of excise duty?
Expand CCIT?
