Updated on: May 24th, 2024 2:11 PM

Partnership Firm Registration in Madhya Pradesh

Partnership firm registration is mandatory for any association of people join together for a business purpose to share their profits. In India (Madhya Pradesh) all partnership firm is regulated by the Indian Partnership Act, 1932 and as per this provisions, partnership firm must be registered. In this article, we look at the procedure for registering a partnership firm in Madhya Pradesh. If you need any assistance for registering a partnership firm registration in  Madhya Pradesh, get in touch with an India filings Advisor at sales@indiafilings.com

Benefits of Registering a Partnership Firm

The benefits of registering a partnership firm under section 69 of the Indian Partnership Act, are listed below:

• Power to file a case in a court by a partner against the firm or other co-partners.
• Power to file a case in court by the firm against third parties.
• Power to claim setoff.

Partnership Deed

A Partnership Deed is an agreement in which the respective terms and conditions of the members of a partnership are stated. The Partnership deed consists of the following characteristics as below:

• Both Partners and Firm name as well as address.
• Business nature to be carried on by partners
• Date of business commencement
• The term of Partnership (whether for a fixed period/project)
• Capital contribution from each partner
• Profit-sharing ratio among the partners

Documents Required

Submit the following documents along with the application form:

• Partnership deed
• Affidavit of acknowledgement of all the details mentioned and Attested by Notary
• Office Address proof
• Address proof of all the partner
• ID Proofs of Partners
• Passport size photographs of all partners
• Rent agreement from Owner of the house (optional)

Online Partnership Firm Registration Procedure

To register for partnership firm in Madhya Pradesh, follow the steps mentioned here: Step 1: The citizen must visit the official web portal of the Madhya Pradesh Government. Step 2: Click on "Citizen Service" menu and select "Application" option on the home page. [caption id="attachment_56224" align="aligncenter" width="632"] Home-Page-Partnership-Firm-Registration-in-Madhya-Pradesh Step 3: On the next page, the applicant needs to click on "Firms And Society" icon from the list of services displayed. [caption id="attachment_56226" align="aligncenter" width="554"] Partnership-Firm-Registration-in-Madhya-Pradesh-Firms-&-Society Step 4: Then the applicant has to create "New User Login" for registration. [caption id="attachment_56227" align="aligncenter" width="606"] Partnership-Firm-Registration-in-Madhya-Pradesh-Login-Details Step 5: Click on "New User" button, and then the form will open up on the screen. Step 6: The registration form will open up; the applicant has to fill the required details in the form and click "Register". [caption id="attachment_56228" align="aligncenter" width="642"] Partnership-Firm-Registration-in-Madhya-Pradesh-Registration-Form Step 7: Click on "Apply for firm registration" option. [caption id="attachment_56229" align="aligncenter" width="659"] Partnership-Firm-Registration-in-Madhya-Pradesh-Apply-Online Step 8: The application form will open up; the applicant has to fill the required details like firm details, partner details, personal details in the form. [caption id="attachment_56230" align="aligncenter" width="659"] Partnership-Firm-Registration-in-Madhya-Pradesh-Provide-Details Step 9: Now, attach the scanned documents along with the application form. [caption id="attachment_56231" align="aligncenter" width="653"] Partnership-Firm-Registration-in-Madhya-Pradesh-Upload-Document Step 10: Click on "Submit" to save your details after filing the form. Step 11: Upon submission, the application number will be generated for further reference. [caption id="attachment_56233" align="aligncenter" width="657"] Partnership-Firm-Registration-in-Madhya-Pradesh-Submit-Application

Generation of Challan

Step 12: Click on "Proceed to pay for registration fee" for the payment of fees. Step 13: The user needs to select "Firms and Societies" from the list of the department. [caption id="attachment_56234" align="aligncenter" width="634"] Partnership-Firm-Registration-in-Madhya-Pradesh-Generate-Challan Step 14: Fill the required details and submit the application form. [caption id="attachment_56235" align="aligncenter" width="569"] Partnership-Firm-Registration-in-Madhya-Pradesh-Submit-E-Form Step 15: On submission, the user will be redirected to the banking website. Step 16: Then, one needs to fill the required details and pay their amount at the selected bank's payment portal. [caption id="attachment_56236" align="aligncenter" width="635"] Partnership-Firm-Registration-in-Madhya-Pradesh-Login-Details Step 17: Now, the application ID, Transaction ID, Challan Reference ID will be generated.   [caption id="attachment_56239" align="aligncenter" width="661"] Partnership-Firm-Registration-in-Madhya-Pradesh-Track-Application

Payment for Registration

Step 18: The user has to login again into the portal. [caption id="attachment_56240" align="aligncenter" width="666"] Partnership-Firm-Registration-in-Madhya-Pradesh-Payment-Registration Step 19: Click on "Unpaid application" which is below the track application menu. [caption id="attachment_56246" align="aligncenter" width="597"] Partnership-Firm-Registration-in-Madhya-Pradesh-Unpaid-Application Step 20: The user needs to select "Firm Application" to proceed with payment. [caption id="attachment_56242" align="aligncenter" width="650"] Partnership-Firm-Registration-in-Madhya-Pradesh-Firm-Application Step 21: Fill the details and save the document and pay the portal fee for successful registration. Note: After registration, the status of the application can be viewed after five working days from the date of application.