Online Partnership Firm Registration

The Partnership Act of 1932 was implemented to regulate the working of partnership firms in India. The partnership firm is the coming together of two or more people (maximum one hundred according to the new amendment) to form an entity sharing profits with mutual consent. A partnership firm has several advantages, such as – more resources, better administration and better risk management. The partnership registration is not compulsory in India except for Maharashtra, where the registration is compulsory; however, the registration comes with its benefits and protects an individual's right in the partnership. The partnership registration can give an individual the right to sue the co-partner or the firm in case of any disputes, the power to sue against the third parties by the firm, and the power to claim the set-off in dispute with the third party. Also, there is an exception on who can be paired as partners in the registered firm; the member should not be from a Hindu Undivided Family and two people holding the status of husband and wife. https://www.legalraasta.com/partnership-registration/