Procedure of formation of Partnership Firm
Partnership firm is required to be registered under section 58 and 59 of Partnership Act 1932.
A partnership firm can be registered whether at the time of its formation or even subsequently. You need to file an application with the Registrar of Firms of the area in which your business is located or purpose to be located.
2. Documents Required:
Application for registration shall contain the following documents,
a. Name of firm.
b. Principal place of business.
c. Name of any other place where the firms carries business.
d. Date of joining of each partner.
e. Full name and permanent address of partners.
f. Duration of firm.
3. Further requirements:
a. Every partner needs to verify and sign the application
b. Ensure that the following documents and prescribed fees are enclosed with the registration application:
- Application for Registration in the prescribed Form I
- Duly filled Specimen of Affidavit
- Certified copy of the Partnership deed
- Proof of ownership of the place of business or the rental/lease agreement thereof
4. Name of Firm:
The name of partnership firm should not “contain any words which may express or imply the approval or patronage of the government except where the government has given its written consent for the use of such words as part of the firm’s name.”
5. Issue Of Certificate:
When Registrar of Firm is satisfied that the above conditions are duly compiled with, than Registrar of Firms shall make an entry in Register of Firms and issue a certificate of registration accordingly.