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...
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.
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
CAclubindia
