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procedure to create partnership deed and register a partnership firm

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

1. The amount of capital contributed by each partner 2. Profit or loss sharing ratio 3. Salary or commission payable to any partner, if any with respect to Sec 40b of Income Tax Act, 1961 4. Duration of business, if any 5. Name and address of the partners and the firm 6.Duties and powers of each partner

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

The registration of Partnership Firm is governed by The Indian Partnership Act, 1932. Act does not provide for compulsory registration of Firms. A firm may be registered by filing an application with the Registrar of Firms of specific area in which firm is proposed to be located. **Partnership Deed includes the essential clauses:** i) Firm’s name ii) Place of Business iii) Date of Commencement of Business. iv) Date on which Partners joined the Firm v) Partner’s name and their Residential Address vi) Duration of Partnership vii) Capital contribution by each partner viii) Profit Sharing ratio of each partner **Following documents along with the requisite fee are submitted with the application:** i) Registration form ii) Ownership proof of Principal place of Business. iii) Certified copy of Partnership deed. After submitting the necessary documents, the Registrar of Firms will make entry in register and issue Certificate of Registration if satisfied that all the provisions are complied. The registration process differs from state to state.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

**PROCEDURE TO CREATE PARTNERSHIP DEED AND REGISTER A PARTNERSHIP FIRM** The registration of Partnership Firm is governed by The Indian Partnership Act, 1932. Act does not provide for compulsory registration of Firms. A firm may be registered by filing an application with the Registrar of Firms of specific area in which firm is proposed to be located. Partnership Deed includes the essential clauses: i) Firm’s name ii) Place of Business iii) Date of Commencement of Business. iv) Date on which Partners joined the Firm v) Partner’s name and their Residential Address vi) Duration of Partnership vii) Capital contribution by each partner viii) Profit Sharing ratio of each partner Following documents along with the requisite fee are submitted with the application: i) Registration form ii) Ownership proof of Principal place of Business. iii) Certified copy of Partnership deed. After submitting the necessary documents, the Registrar of Firms will make entry in register and issue Certificate of Registration if satisfied that all the provisions are complied. The registration process differs from state to state. You can approach your nearby Registrar Office. Thanks

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Data?1494421738 answered

> `Procedure to create partnership deed` The “Partnership Deed”, as stated above, must contain: 1. The amount of capital contributed by each partner 2. Profit or loss sharing ratio 3. Salary or commission payable to any partner, if any with respect to Sec 40b of Income Tax Act, 1961 4. Duration of business, if any 5. Name and address of the partners and the firm 6.Duties and powers of each partner 7. Nature and place of business; and 8. Any other terms and conditions to run the business > `Registering a partnership firm.` This partnership deed must be made on stamp paper or franking also allowed as per the laws of the place of signing. The whole process of drafting the partnership deed can be done through a trusted lawyer or you can also do the same. After preparation of the deed, it must be signed by all the partners. It must also have signatures of independent witnesses. The deed is then submitted to the “Registrar Of Firms” along with the 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. **Note:- Registration of partnership firm is not mandatory.**

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Open uri20170510 32134 tcchcu?1494421832 answered

Hiiii friend..... **Partnership Business**..... ----To prepare Partnership Deed you must have minimum two partners. The deed must be prepared with the Business conditions and all working and profit sharing conditions also must be included. After you set all the information in partnership deed it must be notarised and must be taken on Rs.500 stamp paper. This deed must be signed by partners and witnesses. ---- After this deed is prepared and you need to apply for PAN card of the firm. ---- Once the PAN card is made you need to apply in 'Form A ' to ROF for registration of Firm. You need to submit all related documents of Partnership firm and KYC documents of Partners also. You have to make an affidavit of all partners. Once you submit the form and related documents with the fees your process starts and if the ROF is satisfied he will issue you a registration certificate. Also click on this link to read more about partnership registration. [PROCEDURE FOR PARTNERSHIP FIRM REGISTRATION] https://www.cakart.in/blog/procedure-for-partnership-firm-registration/ Regards,

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