Partnership Firm Registration in India | How to Register | Fees | Explained By Setindiabiz
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Partnership Firm Registration in India
Partnership Firm Registration in India | How to Register | How to register partnership firm in india| document required for partnership firm| partnership firm registration online
More information click here to visit our website: https://www.setindiabiz.com/partnership-firm-registration
Start your Partnership Firm easily with our experience of 14+ years of delivering quality professional services. Our dedicated team will help you to register your partnership firm across India. We will extend our support in Documentation, Preparation, filing and subsequent Follow-up with the registrar of firms.
FAQs on How to Start a Partnership Firm in India
Q1. What is the difference between Partnership Firm and Other Forms of Business?
Ans. We have prepared a detailed and easy to understand comparative table showing availability of features and advantages of one form of business to that of others. The same can be found at the end of this page. Click here to go there.
Q2. What are the pre-requisites for Starting a Partnership Firm in India?
Ans. To start a partnership firm, the minimum number of partners is two, whereas the maximum number of partners can be 20. The partners must come together to carry on any legal business with the motive of earning profits.
Q3. What are the types of Partnership Firm?
Ans. The partnership business is regulated under Indian Partnership Act, 1932. Which prescribes possibility of two types of the firm, unregistered firm, and registered firm. An unregistered firm is formed by entering into an agreement between two competent persons, known as partners, where the firm is not registered with the registrar of firms. Whereas the firms which subsequently get registered with the registrar of firms by submitting the copy of partnership deed and KYC of partners and the registered office is known as the Registered Partnership Firm.
Q4. What are the advantages of a Registration of Partnership firm?
Ans. Though the Indian Partnership Act, 1932 does not make registration of partnership mandatory, section 69 places certain disadvantages to an unregistered firm. Following are the disadvantages of an unregistered firm.
Only a registered partnership firm can claim a setoff
An unregistered partnership cannot recover any sum due from third parties if the amount in question is more than Rs. 100/-
Only a registered partnership firm can file a legal suit in the court of law for the enforcement of rights against partners.
The partners of an unregistered firm cannot file suit against another partner of the firm or the firm itself.
Hence, we strongly advise registering the partnership firm. An unregistered firm can be registered at any time. Every state government has established the office of the registrar of firms, which is vested with the powers to register the firm and issue the Certificate of Registration of the Firm and a copy of the extracts of the register of firms where the partnership name has been entered.
Q5. Under which Government Authority, the application of Partnership Firm Registration is submitted?
Ans. The application for registration of partnership firm is filed with the Registrar of Firms having jurisdiction over the place of business of the partnership firm. The registrar of firms after receipt of the application complete in all aspects with all required documents registers the firm within 1-2 weeks and issues the Certificate of Registration of Firm.
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In this video we covered: Partnership Firm Registration in India.
how to register partnership firm.
partnership firm registration process.
how to register partnership firm online, what is partnership.
partnership firm documents.
partnership firm registration eligibility.
benefit of partnership firm.
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