Partnership Registration Firm in Delhi India
A firm which is managed, owned and operated by an Association of people with the aim of gaining profit, is called as Partnership Firm.
They basically fall into the category of an un-organized sector.
Partnership company registration firms in Delhi India are governed by the authority of Indian Partnership Act, 1932. Thus, for any company which falls under the category of "Partnership Firm”, it is necessary to get themselves registered legally under this act. As a matter of fact, if your company is unregistered then you do not have to pay any penalties. But, un-registered firms suffer some repercussions and they are as follows-
- Any partner, no matter what amount of share he/she has in the company, is not allowed to file any lawsuit in the court, in the case of any breach of rights.
- Any right which is a part of the contract cannot be legally enforced in any court.
- Also, any of the partners of the firm cannot claim for debts adjustments in a dispute with the third party.
The procedure for registration of any partnership firm involves the following steps-
- Firstly, one of the partners has to file an application with the Registrar of the location in which your firm is supposed to get established.
- This application for the Partnership Firm Registration must include the important information related to the company such as- Name of the place, Name of the firm, Name of the partners, Duration of the firm, Date of joining of all the partners etc.
- This application must be signed by each partner and all the needed legal documents must be attached to it. The legal documents include- Form, Specimen of Affidavit, Proof of ownership of place where the firm will be opened etc.
- Pay the required fees and submit the entire file of documents and the form to the Registrar.
So, if you don't want to suffer any backlash in the legal proceedings of your firm, as a partner, then it is better to get your company registered under the Indian Partnership Firm Act.
Contact Legal-N-Tax Advisory today if you also want to get your partnership firm or company registrationin Delhi India .