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 [email protected]
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.
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
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.
Step 3: On the next page, the applicant needs to click on “Firms And Society” icon from the list of services displayed.
Step 4: Then the applicant has to create “New User Login” for registration.
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”.
Step 7: Click on “Apply for firm registration” option.
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.
Step 9: Now, attach the scanned documents along with the application form.
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.
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.
Step 14: Fill the required details and submit the application 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.
Step 17: Now, the application ID, Transaction ID, Challan Reference ID will be generated.
Payment for Registration
Step 18: The user has to login again into the portal.
Step 19: Click on “Unpaid application” which is below the track application menu.
Step 20: The user needs to select “Firm Application” to proceed with payment.
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.