Partnership deed

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 November 2015 Dear Expert,
Please help its urgent
there is one client who is running coaching classes in Partnership it is located in mumbai . but the deed is not registered it is only notarized.the firm also have its PAN Card and they never filled return it is 8 years old firm. now they want to get it registered and also want to file returns. Now is it advisable to register it now by making fresh deed or to register it from the date which is mentioned in its old deed by paying Penalty for each month of delay.

Trinadharao Adigarla

Trinadharao Adigarla (Expert)
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07 November 2015 My Advise is geting fresh deed and register the present date.
and filing of Income Tax Return in the firm name is Available FY 2012-13,2013-14.2014-15 .

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Amol S Joglekar

Amol S Joglekar (Expert)
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07 November 2015 You can get it registered now onwards also.
Registration of firm is NOT compulsory.

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Querist : Anonymous

Querist : Anonymous (Querist)

07 November 2015 In the state of maharashtra it is compulsory.

Amol S Joglekar

Amol S Joglekar (Expert)
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07 November 2015 The Supreme Court has quashed the law which debarred a partner of an unregistered firm in Maharashtra from filing a suit for dissolution of such a firm. The apex court also held as illegal the law prohibiting the partner to sue for accounts of the dissolved firm or realise properties of such dissolved firm, unless the duration of the firm was only six months or its capital was up to Rs 2,000.

"In our opinion sub-section 2A of section 69 (of the Indian Partnership Act, 1932) inserted by the Maharashtra Amendment violates Articles 14, 19(1)(g) and 300A of the Constitution of India," said a bench comprising Justice Markandey Katju and Justice GS Singhvi.

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