The name of the partnership firm may include names of the members included in the register of members.The name of the partnership firm shall not be identical or similar to existing firms in the same business.Proof of registrationĪ certified copy of any entry relating to the firm in the Register of firms shall act as conclusive proof of the registration of the firm.Īny statement, notice of intimation recorded or noted in the registrar of firms shall be conclusive proof of any fact stated therein. It is important to note that registration at the income tax department is still mandatory for both registered and unregistered firms by the registrar. This compliance with section 58 shall be discussed in detail in the furtherance of the article. The firm is registered when the registrar of firms is satisfied with the compliance of section 58 of the partnership act. However, if a firm wishes to enforce a legal right arising out of any legal document by filing a case, the firm shall do so only after the registration of the partnership deed is done.Īnother instance where registration of the firm becomes compulsory is when the firm wishes to adopt a new form of organization such as LLP or company more easily. The firm can be registered at any time before the existence or during the continuance of the partnership.

Only registered firms are considered legally existing. However, it is always advisable to register the firm under the act since it gives the firm other advantages that send an implied message of the act favouring registered firms than the unregistered. The Partnership Act does not demand registration as a mandatory process that has to be adhered to. The registration of a partnership is at the sole discretion of the partners. Persons who have entered into a partnership with one another are called individually ‘Partners’ and collectively ‘A firm’ and the name under which their business is carried on is called the firm name. Without any further delay let’s cut to the chase. Join me as I take you through the process of registering your law firm under the Partnership Act. This article shall give you the clarity to start your firm and registered under the Indian Partnership Act. This is too minuscule, a hurdle to stop you from pursuing your dream.

Many young students and graduates dream of owning a firm, but what stops them from pursuing this lucrative and highly responsible career path? Is it the lack of clarity over the bigger picture as to how a law firm comes into existence.

Common reasons for rejection by Registrar to register firms.

Reasons for change in the Partnership Deed.

How to make changes in the Partnership Deed?.

Subsequent alterations after the registrations.

Step 5: Registration of the Partnership Deed.

Procedure of Registering a Partnership firm.

Advantage of Partnership over a company.

Cant complete my u he diva registration