what are the benefits of registration of a partnership firm?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 usha asked about 3 years ago

what are the benefits of registration of a partnership firm?How to register a partnership firm in India?

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2 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 acharya answered almost 3 years ago

i Settlement of Claims Registered firms can file suit against the third parties. So the rights of registered firms are safe guarded by law. But an un-registered firm or its partner cannot enforce its claim against the third parties or its co-partner. ii Protection of Rights The rights and privileges of new partner are also protected in registered firm. But if incoming partner fails to register himself,

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered almost 3 years ago

i Settlement of Claims Registered firms can file suit against the third parties. So the rights of registered firms are safe guarded by law. But an un-registered firm or its partner cannot enforce its claim against the third parties or its co-partner. ii Protection of Rights The rights and privileges of new partner are also protected in registered firm. But if incoming partner fails to register himself, he will incur great risk, because he will not be in a position to file suit for his dues against his firm or his co-partners.

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