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no of partners in partnership firm

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 rakkesh asked almost 3 years ago

how many no of partners in partnership firm are there in india?

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5 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered over 2 years ago

According to partnership Act the minimum number of partners in a partnership firm must be 2 But there is no specified limit for maximum number of partners in the partnership act But as per companies act any partnership which consists more than 10 persons for banking business and mor ethan 20 persons for any other business is considered as illegal.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Marudhachalamurthi answered almost 3 years ago

As per Partnership Act in India, Minimum number of Partners : 2 Maximum Number for Partners : Not specified As per the Companies Act, and LLP Act, The maximum 10 Partners in Banking Business other business 20 Partners. As per LLP Act, there also relaxations for maximum number of Partners incase of HUF and Professional Governed in Special Acts like The Company Secretaries Act, Professional like Company secretary, Chartered Accountant and Cost Accountant etc.,

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Uma answered almost 3 years ago

minimum number of partner is 2 and maximum not specified .

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 lochan answered almost 3 years ago

**NUMBER OF PARTNERS IN PARTNERSHIP FIRM IN INDIA** Hi According to partnership Act the minimum number of partners in a partnership firm must be 2 But there is no specified limit for maximum number of partners in the partnership act But as per companies act any partnership which consists more than 10 persons for banking business and mor ethan 20 persons for any other business is considered as illegal. So this can be taken as limit for maximum number of partners in legal partnerships

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 CHITRANJAN AGARWAL answered almost 3 years ago

Dear Rakesh, There is no maximum number of limit imposed by the partnership act in india. however for formation of partnership the minimum number of partners required is two. So in india their no maximum number limit of partner. So, in nut sell you have N number of partner in your partnership business without any problem and leagl restriction. Any other query feel free to contact us. Writer CA Chitranjan Agarwal

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