Partnership Firm Registration
Partnership firms are governed by the Indian Partnership Act, 1932. It is not compulsory to register a partnership firm, but is advisable to register a Partnership firm.
A registered partnership firm has the following rights:
- A partner can file a suit in any court against the firm or other partners for the enforcement of any right arising from a contract or right conferred by the Partnership Act.
- A right arising from a contract can be enforced in any Court by or on behalf of your firm against any third party
- The firm or any of its partners can claim a set off (i.e. mutual adjustment of debts owned by the disputant parties to one another) or other proceedings in a dispute with a third party.
- A partnership firm can be registered whether at the time of initial agreement or even at a later stage. Application needs to be filed with the District Registrar of Firms to which business is located.
Documents Required for Partnership Firm Registration:
- Name of the firm
- Place where business is carried out
- Names of any other place where business is carried out
- Date of partners joining the firm and full name and permanent address of partners.
- Copy of PAN of the Partners
- Copy of Address proof of the Partners.
- Main business activity of the firm
- Proof of ownership of the place of business or the rental/lease agreement thereof & copy of EB Bill or Tax receipt