07 January 2024
sec 59(2) of partnership Act states "The firm, which is registered, shall use the brackets and word (Registered) immediately after its name." But the wording of the section is different than in companies act which says " the name of the company with the last word ―Limited‖ in the case of a public limited company, or the last words ―Private Limited‖ in the case of a private limited company" , notice the difference in "after the name" vs "with last word". Moreover, the registration certificate of the registrar of firm uses original name without suffix. Given this do i need to change the name in PAN and GST? note that the PAN is also submitted to registrar at the time of registration. If we don't change our name how would i issue invoice with (registered) after the name? if we don not need such change in invoice when should i use (registered)? in signboard and letter heads only? please advice?
06 July 2024
The requirement to use “(Registered)” after the name of a registered firm, as per Section 59(2) of the Partnership Act, is specific to how the firm’s name is represented in official communications, signboards, and letterheads. Here’s how you can approach this:
Legal Requirement:
1. Usage of “(Registered)”: • Section 59(2) of the Partnership Act mandates that a registered firm should use the brackets and the word “(Registered)” immediately after its name in official documents and communications. This includes signboards, letterheads, agreements, and other legal documents. 2. Registration Certificate: • While the registration certificate from the Registrar of Firms may not automatically include “(Registered)” in the firm’s name, this does not exempt the firm from the legal requirement to use it in communications.
Practical Implementation:
1. Updating PAN and GST Registration: • It’s advisable to update the firm’s name in PAN and GST registrations to include “(Registered)” as per the legal requirement. This helps in aligning with the Partnership Act’s stipulation and avoids potential non-compliance issues. 2. Issuance of Invoices: • When issuing invoices, include the firm’s name as registered with “(Registered)” immediately after the name. This ensures compliance with the Partnership Act and clarifies the legal status of the firm to clients and authorities. 3. Usage in Signboards and Letterheads: • Apart from invoices, ensure that signboards, letterheads, and all official communications prominently display the firm’s name followed by “(Registered)”. This maintains transparency and compliance with legal requirements.
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