Become a Govt. Certified GST Practitioner. Batch begins 18th Nov. Register Now!

Registration of partnership deed:mandatory?

Sharath.M (Articles assistant) (36 Points)

21 January 2010

Is the registration of partnership deed mandatory or compulsory?if so please share the information about the registration procedures .

Reply
Follow
Share

6 Replies

anand/ rana (treasurer) (30 Points)
Replied 21 January 2010

registeration of partnership firm is mandatory and not compulsory but registered is always beneficial as it can protect ur rights and provided the priviledges etc rest depend upon case to case...

Upgrade to CAclubindia Pro. Subscribe Now!

PAYAL (STUDENT) (34 Points)
Replied 21 January 2010

registration is mandatory but beneficial. procedure is like this:

1. obtain form A for registration of partnership and fill it up.

2. sign the form A. it can be signed by any practising ca or advocate.

4. attach a self addressed envelope with the requisite amount of stamp on cover.

5. attach stamp paper if u want to have a registration certificate, this is also mandoatory but necessary for bank loan or cc application or conersion of partnership in to company.

6. pay requisete registration fee to the registrar of your region. along with these documents.

saurabh divekar (nil) (78 Points)
Replied 22 January 2010

registration of a partnership firm is voluntary (except maharashtra; in maharashtra it is compulsory) but it is beneficial to have registered..

CA Pranjal Joshi (CA) (331 Points)
Replied 07 February 2010

Hi,

In my opinion, Indian partnership Act 1932 no where states that registration of partnership is compulsory.

So registration is not compulsory even in Maharashtra as well.

However any third party can sue registered / unregistered partnership firm but only registered firms can sue third parties & hence registration is opted in majority cases.

Sharath.M (Articles assistant) (36 Points)
Replied 09 February 2010

Thanks to all u guys.Really helped me a lot.

Upgrade to CAclubindia Pro. Subscribe Now!

sivadas chettoor (CA) (2644 Points)
Replied 02 March 2010

Registration is not compulsory for firms. You can have a look at Section 58 of the Act1932. Non-registration will give rise to problems in filing suits since unregistered firm cannot(see Sec69). In Maharashtra there is a state amendment whereby one year time limit is fixed for registration. Registration appears to be compulsory for Maharashtra after the 1984 state amendment. There is also a penalty provision.In the rest of the country ther is no time limit. Registration can be done at anytime.

siva208 @ yahoo.com