Registration of partnership firm

This query is : Resolved 

08 August 2011 Dear Members,

Is Registration of Partnership Firm Compulsory to be assessed as Firm for Income Tax Purpose

08 August 2011 No, Registration of partnership firm is not compulsory for Income tax purposes. The only thing you have to do is prepare the partnership deed, make it duly notarized and apply for the PAN with self certified copy of Partnership deed.

But registration is recommended as the firm can not sue in its own name unless it is registred under The Indian Partnership Act, 1932.



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