Partnership deed

mehul (Querist) 24 April 2012 This query is : Resolved
In proprietorship firm I, am getting partnership. Pls. guide, which important point should be mention in partnership deed.

regard

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prabhakar singh (Expert) 24 April 2012
It would depend upon the terms agreed between partners and also upon law laid in Indian partnership Act.

It would be better for you to visit a local lawyer and discuss the matter get the deed drafted.It is also advisable that after formation you register it with registrar of firms.

Raj Kumar Makkad (Expert) 24 April 2012
Your query is not clear. However, I think you want to convert your proprietorship firm into a partnership firm.

Do execute and register partnership deed which contains each and every term on mutual consent. It shall be better to avail the service of a local lawyer for framing the deed.

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