Partnership Registration in India
Partnership registration in India is governed by the Indian Partnership Act, 1932. While registration is optional, a registered partnership enjoys legal recognition and additional rights, such as the ability to file suits against partners or third parties.
Key Features:
- Requires a Partnership Deed outlining terms, contributions, and profit-sharing.
- Registration is done with the Registrar of Firms in the respective state.
- Minimum of 2 partners required; no maximum limit for non-banking firms.
Benefits of Registration:
- Legal protection and enforceable rights.
- Improved credibility and access to government schemes.
- Unregistered partnerships may face limitations in enforcing claims, making registration beneficial for long-term business operations.