Assam Partnership Firm Registration

The Indian Partnership Act, 1932 administer all partnership firms in India. Though it is not mandatory to register a partnership firm, it is recommended that all partnership firms be registered for the following benefits. In this article, we look at the procedure for Assam partnership firm registration.

Benefits of Registration

After the registration of the partnership firm, it can have the following rights:

A partner can file a case in any court against the firm or any others if there is any prosecution from the contract or against the rights made by the Partnership Act
The firm or its partners can claim set-off or other actions during a dispute with the third party
A partnership firm can either be registered in the beginning or sometime later
All application forms have to be filled in the concerned District Registrar of Firms

Required Information

The following information is necessary for the registration of firms:

Name of the firm
Duration of firm
Primary place of business
Other location details of the business
Details of all the partners in the business
Date of joining of the partners

Initial Registration Norms

The following are the required norms that have to be followed by a partnership firm for initial registration:

As per the Indian Partnership Act 1932, the minimum number of partners is 2 and can go up to 20
According to Section 58 of the Indian Partnership Act 1932, registration of a firm can be hindered at any time by sending or delivering a post to the Registrar of the area where the firm is located. In such instances, a statement should be made in the prescribed form along with the prescribed fee according to the form issued by the Government letter FTX.185/2001/63 dated 20th Dec. 2001
A firm should not contain the following names: Crown, Emperor, Empress, Empire, King, Queen, Royal or terms referring sanction, approval or patronage of Government. Exceptions can be made when the State Government gives a written permit to use the given terms as part of the firm name

Application Procedure

The following are the application procedure to register a partnership firm: Step 1: Appointing a witness A Judicial Magistrate or a Chartered Accountant should be the witness at the time of registration. Step 2: Brief description of the business The applicant should make a brief description of the nature of business along with the names of the firm. Step 3: Acquiring the Signature Every partner's full signature is necessary. Step 4: Enclosing Documents The applicant has to enclose the original certified copy of Registered Deed of Partnership along with Form No.1. The applicant will receive these documents after the completion of the verification process. Step 5: Fee Payment The applicant has to pay Rs.5 as registration fee. However, the payment can be made as treasury challan under the Head of Account-1475 and other General Economic Services fees under Indian Partnership Act 1932. Step 6: Furnishing Ownership Proofs If the office is located on land that is owned by the firm, then the Dag No., Patta No. and ownership proof of the land has to be furnished. However, if the office is located in a rented building, an affidavit from the building owner with ownership proofs has to be furnished. Step 7: Furnishing Photographs The applicant must furnish a self-signed passport size photographs of every partner. Step 8: Furnishing Trade License Trade license obtained from the Municipal Corporation, Municipal Board, Town Committee or Gaon Panchayat has to be furnished. Step 9: Declaring Registration Number The Registration number along with the unit of the Sales Tax Office and Permanent Account Number or General Index Register Number of the income should be declared. Step 10: Enclosing photocopies of the Documents The applicant should enclose attested photocopies of the latest Sales Tax clearance certificate and Income Tax clearance certificate.

Documents Required

The following are the documents that are necessary for registration:

Duly completed Form No.1 along with the original certified copy of Registered Deed of Partnership
Treasury Challan
Trade License issued by Municipal Corporation, Municipal Board, Town Committee or Gaon Panchayat
PAN Card
Tax clearance certificate and Income Tax clearance certificate
Documents pertaining to office accommodation of the society
Passport size photographs

TimeLine

After obtaining the application, there is no due date for submission. However, it takes 30 days to complete the processing of the application form.

Contact Details

For further queries, applicants can contact the given address: Registrar & SPIO of Firms & Societies, Assam Dispur, Guwahati-06 Dist. Kamrup Metro, Assam Phone: +91-9435194509 Email: rfs062014@gmail.com