Partnership Firm Registration
The registration of a firm is particular under the Income tax act under the partnership Act 1932. A function for firm registration can be made if the partnership makes by an instrument of partnership and the individual shares are stated in that device. An application for firm registration is to be made to the assessing officer having jurisdiction to assess the firm at any time before the end of the previous year relevant to the assessment year in respect of firm registration.
In the firm registration all the partner have the authority to act on behalf of all and bind all the partners of the firm where each partner is the agent of the others in all matters connected with the business of the partnership firm registration.A partnership firm cannot be great from its partners.The firm name is used by all the partners together or the name of any particular partner may be used. A trust can become a partner in a firm described by its trustees and a firm is not a legal person or a legal entity.
Firm Registration Under The Act
A particular partnership is one which is created for a special experience or a particular operation.Such a partnership is mostly softened on the integration of the experience of the experiment.
The Firm Registration has the fees of following statements:
- The Firm Name
- The Business Place of the firm
- Where each partner joined the date of the firm
- The Name and Address of the Partners
- The Duration of the firm
- Where the firm carries on Business
A firm may be registered at any time, but an unregistered firm cannot call a set off in a claim for the plan of enforcing a right arising form record.An unregistered company suffers from certain disabilities but it is not an illegal association.The register of firms can be observed and copies of entries taken by a person of the basic price in Chennai. In the firm registration all the partners are signed and verified the statement or behalf of the recognized officer.