Procedure for registration of Partnership Firm by Rudraksh Singh Intern at ubAdvocate

Rudraksh Singh
Intern At ubAdvocate- www.linkedin.com/company/ubadvocate
rudrakshsingh1999@gmail.com
Link for Form of Internship
docs.google.com/forms/d/e/1FAIpQLSf8jPG1A9M16ajCaf…

Procedure for registration of Partnership Firm

The Process of Registering a Partnership under Indian Partnership Act, 1932
The primary initiative regarding the process of registration or incorporation of partnership firm is to forward an application filling Form No. 1. As per the provision of section 58 it should include following details:

The name of the firm.
The full names and permanent resident address of the partners.
The timespan of the firm.
Business the date when each partner effuse to the firm.
The principal place of business transaction of the firm.
The names of any other places where the firm carries its functional obligations.
This undertaking is needed to be signed by all the associate partners, or by their respective agents principally given authority in their behalf.

Secondly, all partners should necessarily solicit their signature application form or their authorised agents in their behalf in the occupancy of a witness who must be Advocate, Gazetted Officer, Vakil or Magistrate of Registered Accountant. If a partner declines to sign the application form, registration cannot happen unless that partner’s name is dribbled.

The application as mentioned above has to be sent to the Registrar at the enumerated address along with the prescribed fees. As per section 71 of Indian Partnership Act, states are authorized to make their own regulations with respect to prescribe the fee structure for registration or incorporation of partnership. However, Schedule I of Indian Partnership act states the at most or maximum prescribed fees that can be charged by the states. As per Schedule I, the maximum registration fees for a statement under section 58 is Rs.525.

When is Partnership Registered
As provided in the Section 59, a partnership is said to be registered when a registrar is well pleased with the fidelity of application filed according to section 58 and an entry of statement in the register known as Register of Firms is recorded.

Proof of Registration
According to Rule 9 under Indian Partnership Act, a documented proof of registration or incorporation for that matter is a registration certificate signed by Registrar.

Business Name of the Firm
Alteration of Particulars
Whenever an amendment or change is made in any of the understated particulars then it should be conveyed to the Registrar of firms and a satisfactory alteration is rendered in the register. The change to be rendered is sent in a stipulated form and with the stipulated fees. Following amendments or alterations are to be sent to the Registrar:

Any alteration in the name of the firm.
Any alteration in the principle place of business transaction. The alteration in name or principle place of business transaction almost requires a fresh new registration. These alterations should be sent in a stipulated form and should be rendered signature by all the partners.
Whenever the constitution of the firm is altered i.e., an old partner may retire or a new partner may be added.
Any alteration in the name of a partner or his residential/official address.
When a minor partner gains the age of maturity and he is left to the discretion whether to elect to become or not to become a partner.
When the firm is subjected to dissolution.

#internshipopportunity #legaleducation #lawstudents #lawinternship