REGISTRATION OF PARTNERSHIP FIRM IN MAHARASHTRA
As we have discuss the various Forms of Business in India, In various Form of business one form is Partnership Firm
Today we are discussing on Registration of Partnership Firm in Maharashtra, documents required for registration of partnership firm in Maharashtra, how to form a partnership firm, how to make a partnership deed.
STEPS FOR PARTNERSHIP FIRM REGISTRATION CERTIFICATE
- DRAFTING/MAKING OF PARTNERSHIP DEED
First step to register the firm is Draft the partnership deed that should contain:
- Name, Father/Husband Name and address of partner,
- Name of Firm
- Object of Firm
- Place of Business
- Commencement & Duration of Firm
- Capital contribution & Interest
- Profit and Loss sharing between partner,
- Remuneration payable to partner,
- Borrowing and Bank Account Power
- Right, Duties
- Constitution changes related clauses
- Arbitration
- Any other terms and condition as mutually agreed between the partners.
It involves following steps:
Collect Information as required above to Draft Partnership Deed.
- Once draft deed is finalised we have to take it printed on appropriate stamp paper and get it signed by all partners
- We need to convert English Deed into Marathi deed also only at time of Form A filing
- STAMP PAPER
Value Depends On Fixed Capital –
- No share of contribution in partnership, or by way of cash does not exceed Rs 50,000 : Five hundred rupees
- Brought in by way of cash is in excess of Rs 50,000 : 1% of the amount of share contribution subject to maximum of Rs 15000 (fifteen thousand)
- Where such share contribution is brought in by way of property, excluding cash. – The same duty as is leviable on a Conveyance under clause (a), (b) or (c), as the case may be, of Article 25 of Maharashtra Stamp Act , on the market value of such property.
Points to be taken care of while executing deed on stamp paper:
- The Stamp Paper must be in name of Firm or Partners
- The stamp paper which is used for execution of Deed of Partnership should be dated within 6 months of the date of issue of such stamp paper.
- If Deed is not duly stamp or in other case if six month has been lapsed after the execution of deed then in such cases the deed is required to be adjudicated by the Stamp Authority.
ONLINE REGISTRATION OF PARTNERSHIP FIRM
Partnerships in India are governed by the Indian Partnership Act, 1932 and as per this act a partnership deed may be registered or unregistered. However, there are certain benefits of registering a partnership firm as below:
- If any dispute arises among the partners or between a partner and the firm or between a partner and ex-partners, and the dispute is based upon the rights arising from the contract (i.e. partnership deed) or upon the rights conferred by the Partnership Act, then a partner of a registered firm can always file a case in the court. This power is not available to the partner of an unregistered firm (except in case of criminal proceeding).
- The partners of a registered firm can always file a case in the court (if required), to enforce any right arising from contract g. for the recovery of the price of goods supplied. This power is not available to the partners of an unregistered firm (except in case of criminal proceeding).
If you want to register the Firm, below are the Steps in State of Maharashtra with Registrar of Firm (RoF)–
- Go to https://rof.mahaonline.gov.in/.
- For Online filing creates a New ID for every Firm.
- Change Password
- Go to Firm Management Tab and click on Raise Form A
- Fill the Form A columns in the form in English and Marathi (While filing the Form A all the words of Marathi deed and English deed should be matched)
- Upload Certified True Copy of English and Marathi Deed
- Make the Payment of Rs 1600 plus Penalty if any (RS 1000 per year for number of delayed years) and Download Form A
- Take Print of Form A on Green Ledger Paper and sign on all pages by partners, in 3rd or 4th page normally additionally against individual partner name in box provided
- Make the Serial Number Notary on Form A and get it upload on RoF Portal. Date of filling of documents must be within one month of such notarization.
- After uploading Notary Form, submit the following list of documents in Registrar of Firm:
- Covering letter with Rs. 5 Court Fees Stamp on it.
- Online uploaded Form A duly Notarized , Copy of English Partnership Deed duly attested, Converted Marathi Partnership Deed Duly attested
- Letter of Authority duly signed by all the partners and CA/ Advocate who is submitting form.
- Any particular business requiring License to carry out the business the copy of License is to be submitted along with the submission. If License is not obtained then an Affidavit form signed by all the partners with serial number notaryshould be submitted.
- After submitting the above documents physically , RoF give acknowledgment of Form A submission
- VERIFICATION BY THE REGISTRAR
RoF takes 3-4 years for verifying the Form, If there is any objection by the registrar he will send you the courier and email the objection letter will be Marathi, We need to submit online reply and if Form A modification required Point No 8 to 10 of Para III above need to be repeated
This process continue till department get satisfied and issue the CERTIFICATE OF FIRM REGISTRATION and we can download it online as well as Can get signed hard copy from RoF
- AMENDMENT IN PARTNERSHIP FIRM
Various Form of Changes in Partnership Firm We need to make a Supplementary deed and required Form to be filed are as below:
- Form B – Change in principal Place/nature of business/firm name
- Form C- Opening and closing of branches
- Form D – Change in the Name (Person/Limited Company) and Address of the Partner
- Form E- Change in Constitution (Admission/ Retirement/ Dissolution/Death of Partner/minor partner)
- Form F – Minor attaining majority and elects to become/ not to become a Partner
- For Changes other than above no need to submit Form to RoF like For Capital Change and Profit sharing Ratio Changes
Below are the Steps in State of Maharashtra with Registrar of Firm (RoF)–
- Upload Certified True Copy of English Deed
- Make the Payment of Rs 1200 plus Penalty if any (RS 2000 per year for number of delayed years) and Download Form B/C/D/E/F
- Take Print of Form on Green Ledger Paper and sign on all pages by partners, in 3rd or 4th page normally additionally against individual partner name in box provided
- Make the Serial Number Notary on Form and get it upload on RoF Portal. Date of filling of documents must be within one month of such notarization.
- After uploading Notary Form, submit the following list of documents in Registrar of Firm:
- Covering letter with Rs. 5 Court Fees Stamp on it.
- Online uploaded Form B/C/D/E/F duly Notarized , Copy of English Partnership Deed duly attested
- Letter of Authority duly signed by all the partners and CA/ Advocate who is submitting form.
FAQ on Partnership Registration
|
S.No |
FAQ |
Resolution |
|
1. |
Do we need to notarize partnership deed |
Copy of partnership deed certified by Chartered Accountants (CA) or Advocate is sufficient |
|
2. |
After Payment of Form can we modify any details |
No, We have to first submit that only to RoF , if they raise objection against that we can modify the Form |
|
3. |
Is it mandatory to submit the affidavit with registrar of firms…if yes, in which case is it mandatory to file an affidavit. |
Affidavit is mandatory if Any particular business requiring License to carry out the business the copy of License is to be submitted along with the submission. If License is not obtained then a Undertaking in Affidavit form signed by all the partners should be submitted The business like Petrol Pump/L.P.G.Gas/Kerosene, Ration Shop/Liquor requires the permission of Licensing authority to carry out business in partnership. In such a cases Copy of License is mandatory |
|
4. |
Whether advocate’s name stamp paper works for drafting deed |
Stamp paper must be in the name of firm or partners. And we must submit back side of stamp paper also which contains purpose and name of purchaser of stamp paper |
|
5. |
Within how much time from Serial Number Notary we have to submit form to RoF |
Date of filling of documents must be within one month of such notarization. |
|
6. |
What is Validity of Stamp Paper |
The stamp paper which is used for execution of Deed of Partnership should be dated within 6 months of the date of issue of such stamp paper |
|
7. |
If there is deficiency in stamp value or stamp is not in partner name etc what is solution |
If Deed is not duly stamp or in other case if six month has been lapsed after the execution of deed then in such cases the deed is required to be Adjudicated by the Stamp Authority This is a cumbersome and less prevalent matter |
|
8. |
Which Forms are for what purposes |
Form A – Registration Form B – Change in principal Place/nature of business/firm name Form C- Opening and closing of branches Form D – Change in the Name (Person/Limited Company) and Address of the Partner Form E- Change in Constitution (Admission/ Retirement/ Dissolution/Death of Partner/minor partner) Form F – Minor attaining majority and elects tobecome/ not to become a Partner |
|
9. |
Which are fees and penalty for various form |
Form A –Filing Fees Rs 1600 and Penalty Rs. 1000/-for a year or part thereof if filed after 1 year Other Form – Filing Fees Rs 1200 and Penalty RS Rs. 2000/- for a year or part thereof if filed after 90 days |
|
10. |
If we have lost user id or password what is solution |
We have to apply to RoF office with request letter, letter of Authority if filed by CA, PAN of Partners, Copy of Form A Acknowledgement etc |
|
11. |
If a partner dies then how to draft deed |
If there is Clause in deed that firm will not dissolve on death of partner we can add w.e.f. partner death any other partner if partner are less then 2 We can make change in constitution deed if we just want to record partner death without any new addition |
|
12. |
If We have filed Form A online but same is not processes |
We can file online form A with revised fees and enclosing old Form Acknowledgement , RoF will process that application fast |
|
13. |
Can we file 2 deed Form E at one time |
Yes we can file 2 changes in same deed with 2 effective dates but RoF will charge fees for both changes even for single form |
|
14. |
If Old Form is not processes can we file same form for other change , like old Form E not processed can we raise further Form E for further change |
No, Same form cant be raised twice for different changes without first being processed, we have to first write letter to RoF that a changes have occurred further to old Form so please process old form fast so that we can raise new Form |
|
15. |
Is change on partners profit sharing ratio required to registered under Partnership act 1932. |
No its not required |
|
16. |
We have followed the above process and submitted the application. The office says it will take 3 year to 4 year to process the certificate. Is there not any time limit specified in the act for process the application faster. |
For faster application we have to give documentary proof why you need faster application , like if bank or any govt department ask for registration certificate to complete the transaction |
|
17. |
What is Stamp Duty on Incorporation |
Stamp paper will be 1% of the amount of share contribution subject to maximum of Rs 15000 |
|
18. |
In Case of Incoming Partner how stamp duty is calculated |
Stamp paper will be 1% of the amount of incoming share contribution subject to maximum of Rs 15000 |
|
19. |
What is Stamp Duty on any other Changes |
Rs 500 |
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