Registration of Firm

Partnership is a relationship between persons who have agreed to share profit of business carried on by all or any of them acting for all.Persons who entered into Partnership are called partners individually and collectively called as Firm.

Registration of Firm :

The registration of firm is optional ,not compulsory.It is better to register firm as soon as possible as it is formed.There is no penalty for non registration.

Effects of non- Registration of a firm :

Suit by partner

Suit by Firm

Suit by Third party

No right to set off

Procedure of Registration of a firm :

Appointment of Registrar

Application of Registration

Contents of Application

Satisfaction of registrar and Registration Certificate

Change in particulars

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