Partnership deed
deepak shriram kilaje
(Querist) 15 June 2013
This query is : Resolved
dear sir/madam
i want to know that how much price of stamp paper used in partnership deed in Maharashtra mumbai and what is the procedure of partnership deed.
Advocate M.Bhadra
(Expert) 15 June 2013
PARTNERSHIP Proper Stamp Duty
(1) Instrument of Partnership--
(a) where there is no share of contribution in partnership, or where such share contribution brought is by way of cash does not exceed rupees 50,000/- Rs.500/-
(b) where such contribution brought in cash is in excess of Rs.50,000/- for every Rs.50,000/- or part thereof. Rs.500/- subject to maximum duty of Rs.5,000/-
(c) where such share contribution is brought in by way of property excluding the same duty as is leviable on conveyance under clause (a), (b) (c) or (d) as the case may be, of article 25, on the market value of such property.;
The law relating to a partnership firm is contained in the Indian Partnership Act, 1932.
Under Section 58 of the Act, a firm may be registered at any time ( not merely at the time of its formation but subsequently also ) by filing an application with the Registrar of Firms of the area in which any place of business of the firm is situated or proposed to be situated.
Application shall contain:-
name of the firm
place or principal place of business
names of any other places where the firm carries on business.
date on which each partner joined the firm
name in full and permanent address of partners.
duration of the firm
Application shall be signed and verified by all the partners or their duly authorized agents.
Application shall be accompanied by prescribed fee as well as the following documents:
Prescribed Registration Form for Incorporation of a Company. (Form No. 1 and Specimen of Affidavit)
certified true copy of the Partnership deed entered into.
ownership proof of the principal place of business
Name of the firm should not contain any words which may express or imply the approval or patronage of the government except where the government has given its written consent for the use of such words as part of the firms name.
Under Section 59 of the Act, when the Registrar of Firms is satisfied that the provisions of section 58 have been duly complied with, he shall record an entry of the statement in the Register of Firms and issue a Certificate of Registration.
H.M.Patnaik
(Expert) 16 June 2013
Mr. Bhadra has quoted the provisions properly and you can go ahead with the info. for regn. of your firm with the local Inspector General of Registration ( Registrar of Firms) .
While referring to form for incorporation of Firm, the word 'Company' has been wrongly used in place of Firm which may be corrected.
Now a new form of Partnership Firm can also be registered under the Indian Companies Act as a Limited Liability Partnership( LLP) for which you can log on to site of Ministry of Company Affairs( MCA) .
