Download the best Free CA FINAL android app for cracking your exam! Download Now

HOW TO PREPARE A PARTNERSHIP DEED

HOW TO PREPARE A PARTNERSHIP DEED

Objectives of a business

As we know partnership is not necessary to get registered with Govt. But in some states it is compulsory to get partnership registered.

However if you don’t get Partnership registered, you will not be legally protected from Disputes between partners etc. So it is always wise to get partnership Registered.

In any case, even you choose not to register partnership, you should still have to prepare “Partnership Deed” which will to resolve disputes when arises between partners.

The General Procedure for Registering Partnership Firm all over India is quite similar.

  • You Have to prepare “Partnership Deed”
  • Fill in the required form at the “Registrar of Firms” office near you.
  • Submit the required form, Partnership Deed and other supporting documents to the “Registrar of Firms” for approval.

 

 

HOW TO PREPARE A PARTNERSHIP DEED

PREPARING THE “PARTNERSHIP DEED”

The “Partnership Deed” must contain:

  • v The Amount of Capital Contributed by each Partner.
  • v Profit or Loss sharing Ratio.
  • v Salary or Commission Payable to any Partner, If any
  • v Duration of Business, If any
  • v Name and Address of the Partners and the Firm and the Firm.
  • v Duties and Powers of Each Partner.
  • v Nature and Place of Business and
  • v Any other terms and conditions to run the Business.

 

The Partnership Deed is usually not very Hard to Prepare through a Local Lawyer.

This Partnership deed must be made on Stamp Paper as per the laws of the Place of Signing. The whole process of Drafting the Partnership deed can be done trusted Lawyer. You can take consulting of Chartered Accountants for the Same. It should cost you around Rs.1000/- to prepare the deed. This amount is rough figure it may change depending upon circumstances.

 

www.cakart.in

 

images

HOW TO PREPARE A PARTNERSHIP DEED

After Preparation of Deed, it must be signed by all the Partners. It must also have signatures of Independent Witnesses.

After Preparing Partnership deed you can apply for PAN card of Firm.

This Deed is then submitted to the Registrar of Firms along with registration Form and other supporting Documents, On approval of these documents by the Registrar of Firms the Partnership Firm is established as a legal Entity and can start Business under the Chosen Name.

HOW TO PREPARE A PARTNERSHIP DEED

Download Sample of Partnership Deed Here.

images (15)

Sample Partnership Deed

 HOW TO PREPARE A PARTNERSHIP DEED

cakart

Leave a comment

Your email address will not be published. Required fields are marked *