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Partnership Firm Registration

Partnership Firm Registration

Business Bench is proud to provide the partnership firm registration in karur. We will be completely helpful throughout the registration process.

A partnership Firm is a form of business where two or more people share the profit. Partnership firm is a most popular form of business owned by the group of people for profit. It is a business which runs in a joint ownership. A Partnership Firm can be done both on a formal and friendly basis. The partnership firm is slowly losing its importance after the introduction of Limited Liability Partnership. The additional advantages in the Limited Liability Partnership made the Partnership Firm to lose its prevalence. While starting a partnership from the partners will create a deed among them. The deed can be oral or written. But it is advisable to have a written deed in order to avoid unnecessary conflicts among the partners. It is easy to start a partnership firm and it has some rules and restrictions while setting them up. There are two types of partnership Firms.

  • Registered partnership Firm
  • Un-registered partnership Firm

The registration of partnership firm is not mandatory under the Indian partnership Act 1932. Yet the registration is advisable for the addition advantages. The unregistered partnership firm cannot enjoy the advantages under the Indian Partnership Act, 1932.

Benefits under Indian Partnership Act

A partner in the registered partnership firm can sue the firm to enforce the rights. A partner in an unregistered partnership firm cannot sue the firm under the Indian Partnership Act.

The unregistered partnership firm cannot set off in a dispute with a third party. Where, the registered partnership firm can claim it under the Indian Partnership Act.

The registered partnership firm can sue the third parties whereas the unregistered partnership cannot sue them. But, the third parties may sue the unregistered partnership firm irrespective of registration.

Documents required
  • Application (Form 1) for the registration.
  • Name of the firm.
  • Nature of business.
  • Date when each partner joined in the firm.
  • Copy of the partnership deed.
  • Name and address of the partner.
  • Ownership proof or the lease document of the location of your firm.

After receiving all the above mentioned documents, the Registration certificate will be issued by the Registrar. The copy of the certificate should be given to all the partners.

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