question_answer

Explain procedure of registering a partnership firm.

Answer:

Ans.     Procedure for Registration: In order to get a partnership firm registered an application in the prescribed form must be filed with the Registrar of Firms. The pplication should contain the following information:

(i) The name of the firm,

(ii) The principal place of business of the firm,

(iii) Names of other places where the firm's business is carried on,

(iv) Names in full and permanent addresses of the partners,

(v) The date on which each partner joined the firm,

(vi) Duration of partnership, if any.

The application should be signed and verified by each partner. A small amount of registration fee is also deposited along with the application. The application is to be submitted to the Registrar for registration of the firm for its verification. If everything is in order and all legal formalities have been observed, the Registrar shall make an entry in the register of firms. He will also issue a certificate of registration. Any change in the information submitted at the time of registration, should be communicated to the Registrar. Registration does not provide a legal entity to the partnership firm.