Uttarakhand Partnership Firm Registration
Uttarakhand Partnership Firm Registration
In India, partnership firm registration is recommended for any association of people join together for a business purpose to share their profits. In Uttarakhand, the Indian Partnership Act regulates all partnership firms registration. In this article, we look at the procedure for Uttarakhand Partnership Firm Registration in detail.
Benefits of Partnership Firm Registration
Easy to start: Partnership firms can be registered easily compared to LLP (Limited Liability Partnership), as it is not necessary to obtain DIN, DSC, and name approval. LLP registration falls into the Central Government (Ministry of Corporate Affairs) laws, while State Governments laws comprise Partnership registration.
Know more about LLP Vs Partnership firm
Business Name: A Partnership firm can choose to have any name as long as it does not violate a registered trademark.
Annual Filing not Required: Partnership firms are not expected to file their annual reports with the Registrar each year, unlike a company or Limited Liability Partnership. Limited Liability Partnership’s and companies require to file their annual reports with Registrar of Companies each year.
Non-Registration of Firm
A partnership firm can be registered or unregistered. Unregistered firms and partners suffer from the following consequences.
- The unregistered firm partner cannot file for a case in a court by a partner against the firm or other co-partners.
- No case can be filed in the court by the firm against third parties.
- A claim for setoff against an unregistered firm is not possible.
Naming the Partnership Firm
The partners can easily choose any name as they require for their partnership firm subject to the following rules:
- The names must not be too identical or similar to the name of another existing firm doing related business to avoid duplication in the firm names.
- The name must not include words like Crown, Emperor, Empress, Empire or the words indicating the sanction, approval of Government only if the State Government intends its consent in writing to the usage of such words as part of the firm name.
Check for name availability
- A Partnership Deed is a legal document in which the corresponding terms and conditions of the members of a partnership are involved. 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
The characteristics above are the essentials requires in all partnership deeds. If needed, the partners may also include any additional clauses. Some of the other provisions which can be included in the partnership deed are mentioned below:-
- Interest on Partner’s Capital, Partners’ Loan, and Interest, if any.
- Salaries, Commissions etc., if any, payable to partners
- Method of preparing accounts and arrangement for audit
- Division of task and responsibility, i.e. the duties, powers and obligations of all the partners of the firm.
- Terms and conditions in case of retirement, death and admission of a partner.
Know also about company annual return filing.
At the time of submitting the application form for Uttarakhand Partnership Firm Registration, submit the following documents:
- Two Copies of Form No. I to be along with details of Partners of the firm
- (Name, Age, Address).
- Partnership deed on Non-Judicial Stamp Paper mentioning share among partners, sleeping partner, a working partner, account operator and attested by Notary and Signature of the partners
- Affidavit of acknowledgement with the details.
- Address proof of the firm
- Rental agreement from Owner of the house (If the firm is for rented)
- Residential address proof of all the partner (Notified by the GOI) with photo and self-attested.
One can apply for partnership firm registration in Uttarakhand, by remitting a fee of Rs.150/- for registration.
Application Procedure for Partnership Firm Registration
To register for Partnership firm registration in Uttarakhand, follow the steps mentioned below:
Step 1: Official Website
Visit the official portal of Uttarakhand Government.
Step 2: Firm Related Form
Click on “Firm related forms” which is below the downloads option of the homepage.
Step 3: Application Form
On the next page, select the application form for partnership firm registration.
Step 4: Download the form
Now, the applicant can download the application form.app (1)
Step 5: Complete the details
Fill the application form with the appropriate information and attach the required documents along with the application.
Step 6: Submit the form
Submit the application form to the nearby District Registrar office for verification.
Step 7: Acknowledgement number
The applicant will receive the receipt from the concerned authority as the acknowledgement for further reference.
Issuance of Certificate of Registration
The Registrar of Firm is responsible for the issuance of the certified copy of partnership firm registration.
The applicant can obtain the document for registration within 5 working from the date of the application after verification by the concerned authority.
If you need any assistance for registering a partnership firm registration in Uttarakhand, get in touch with an IndiaFilings Advisor at [email protected]