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Partnership Registration

John Ripath Prabhu (Accountant) (61 Points)

16 February 2010

We have started a new partnership firm in chennai.

Please tell me the procedure to register the partnership firm.

Also provide the address of the registration office in chennai.

What are the documents needed to register the partnership firm?

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4 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 16 February 2010

It is not “necessary” to registar a partnership with the Govt. in most states of the country. (In Maharashtra it is almost compulsary.)

However, if you do not register your partnership, you will not be legally protected from disputes between partners etc. as we have explained before. So, it is always wise to register your partnership with the Govt.

In any case, even if you choose not to register your partnership, you should still prepare a “Partnership Deed” which will help resolve problems when disputes between partners arise.

The general procedure for registering a partnership firm all over India is quite similar:

You have prepare a “Partnership deed”
Fill in the required form at the “Registrar Of Firms” office near you.
Submit the required form, the “Partnership Deed” and other supporting documents to the “Registrar Of Firms” for approval.

Preparing the “Partnership Deed”

The “Partnership Deed”, as stated above, must contain:

The amount of capital contributed by each partner
Profit or loss sharing ratio
Salary or commission payable to any partner, if any
Duration of business, if any
Name and address of the partners and the firm
Duties and powers of each partner
Nature and place of business; and
Any other terms and conditions to run the business

The partnership deed is usually not very hard to prepare through a local lawyer.

This partnership deed must be made on stamp paper as per the laws of the place of signing. The whole process of drafting the partnership deed can be done through a trusted lawyer. It should cost you around Rs.1000/- to prepare the deed.

After preparation of the deed, it must be signed by all the partners. It must also have signatures of independent witnesses.

The deed is then submitted to the “Registrar Of Firms” along with the registration form and other supporting documents. On approval of these documents by the “Registrar Of Firms” the “Partnership Firm” is established as a legal entity and can start business under the chosen name.

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Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 16 February 2010

Registration of Partnership Firm

Registration of Partnership firm under Indian Partnership Act, 1932

Documents required

Form No 1 as prescribed
download form no 1
download specimen of affidavit
Attested Copy of the partnership deed one set
Ownership prove of principal place of business

Amendment in the Registered Partnership Firm

The following forms as prescribed under I.P. Act 1932 accepted for various amendment in original Form-A and Form-C.

S. No.	Form No.	Purpose
1.	Form No. II	For change of principle place of business & change in the name of the firm.
2.	Form No. III	For change of the other then principle place of business.
3.	Form No. IV	For change of name of the partners & permanent address of the partners.
4.	Form No. V	For change of constitution of forms & addition or retirement of partner.
5.	Form No.VI	For dissolution of the firm
6.	Form No. VII	For minor partner attains the age of majority.

2 Like

John Ripath Prabhu (Accountant) (61 Points)
Replied 17 February 2010

Please tell me the address of the registration office in chennai.

our partnership firm is located in maduravoyal

Sweta Singhal (Article) (21 Points)
Replied 17 December 2010

A partnership firm was registered in 1986. Thereafter changes in partners & principal place has not been incorporated. Now a new partnership deed was formed and i have to apply for changes in registration. What are the consequences & penalties? What is the solution for the same??

Please reply fast