ANDHRA PRADESH – PARTNERSHIP REGISTRATIONS

ANDHRA PRADESH – PARTNERSHIP REGISTRATIONS

After proprietorships the second most common form of business ventures in India are Partnership Firms. A Partnership Firm can be registered by making an application to the Registrar of Firms an any time and this part of the business process is covered within section 58 of the 1932 Indian Partnership Act. Partnership Firms can be legally registered in Andhra Pradesh with the Registration and Stamps Department. The process a for Partnership Firm registration in Andhra Pradesh is discussed in this article along with ap registration search checks.

Should you, at this stage, have any questions, or require any kind of assistance related to a Partnership Registration, please contact one of our experts at Company Vakil.

Partnership Firm – The Benefits

The registration of a Partnership Firm benefits are as follows:

• 1. The registration of a Partnership Firm is simple when compared to something like the registration for an LLP. A Partnership Firm does not require getting a DSC, DIN and Name Approval.

• 2. Registration for a Partnership Firms falls under the umbrella of State Government Laws whereas LLS procedures are dealt with by the Central Government – Ministry of Corporate Affairs.

• 3. With a Partnership Firm, more than one person can make an investment and run the business which is one of the main benefits.

The 1932 Indian Partnership ACT

It is possible to register a Partnership Firm at any time under section 58 of the 1932 Partnership Act. The registration is dealt with by the Register of Firms, Registration and Stamps Department, and this does not have to be instigated at the time the Partnership Firm is formed.

Prior to Registering a Partnership Firm

The name you select for your Partnership Firm is important so make sure you check your proposed name to make sure it’s not already in use or a similar name is in use. In line with this check the ap registration search in the LLP register as well to make sure there is nothing similar that could cause problems later. This is an important step before registering any Partnership Firm names with the registrar. Also, search trademarks as well. You need to make sure you avoid any trademark hassles later on.

Partnership Firm Names That Are Acceptable

When selecting your Partnership Name. Once you’ve made your suitable name check and trademark search, there are other guidelines to consider before making your final selection.

• There is a certain select band of words that are not acceptable and will not be approved by the Registrar of names. Words like: Emperor, Crown, Empire, Empress, and any kinds of words that might be misinterpreted as having some kind of relationship with the Government. Unless there really is some kind of Governmental link or there is a Government approval in place.

• It’s also necessary to make sure the name is not too close to another Partnership Firm name that is in the same kind of business. This could lead to miscommunications, confusion, and reputations could be unjustly hurt. So find a name as unique as you can and then look out in case new boys on the block enter your business sector with a similar name as you.

Partnership Deed Process

Partnership Firms members rights and obligations are recorded in the partnership deed document. This formal document, known as the Partnership Deed Agreement, provides all special features, and ap registration searchs related to the Partnership Firm. Partnership Deeds do require some mandatory details as follows:

• 1. Partnership partner names.

• 2. The partnership name and address of the firm.

• 3. The official date that the business officially started.

• 4. The type of business.

• 5. Partnership proposed duration – Fixed, period or project.

• 6. How the profit sharing ratios will be split amongst the partners.

• 7. Each partners capital contributions

Note: All Partnership Deeds needs to be stamped in accordance with the Indian Stamp Act. All partners should have a copy of the stamped Partnership Deed.

Required Documents

As part of the official formation of a Partnership Firm, the following documents are required for the registration process.

• 1. The Partnership Deed.

• 2. The Lease Deed

• 3. The Partnership Firm Application Form.

• 4. Proof of the Partners Addresses.

• 5. I.D. Proof of Partners.

• 6. The Partnership Firm rental agreement or Declaration Attestation by the designated authority.

• 7. Recent photographs of all the partners.

Applicable Fees

Firm registration (For each Partner). Rs. 100
Change of firm name or principle place. Rs. 100
Noting of closing and opening of new branches. Rs. 100
Noting of changes in name and address of partner. Rs. 100
Dissolution of a firm. Rs. 100
Rectification of mistakes in registration. Rs. 100

Partnership Firm Application Registration

The Partnership Firm official Application form needs to be completed prior to advancing to the online process. This application needs to be officially signed by the following:

• 1.Advocate.

• 2. Gazetted Officer.

• 3. Honorary Magistrate or Chartered Accountant.

• 4. Pleader.

• 5. Attorney

Application Registration Form

Partnership Firm Online Registration

In Andhra Pradesh, the following steps are a guideline to register a Partnership Firm in line with the ap registration search.

• Step 1: Website: In the Stamps Department of Government of Andhra Pradesh visit the website Registration.

• Step 2: Option Selection: Under the Section 58 option from the home page select Firm Registration. This link will redirect to the appropriate page.

Image 1 – The Partnership Firm Registration Form

• Step 3. Applicant Details: All the basic applicant details need to be entered such as name, gender, address and contact details, and the Aadhaar number.

• Step 4. Partnership Firm Details: Enter all the following details related to the Partnership Firm.
4.1. The Partnership Firm Duration
4.2. The Partnership Firm Name
4.3. The Partnership Firm Industry Type
4.4. The Partnership Firm Business Type.
4.5. The Partnership Firm Premises Type.

Image 2 Partnership Firm Registration in Andhra Pradesh

• Step 5. Business Premises: Complete the main business address of the business and any others places where the business will operate.

• Step 6. Partner Details: Standard details related to the partners to be entered such as names, ages, joining dates and addresses.

• Step 7. More Partners Data: By clicking on the add partners button details you can add more details about more partners.

• Step 8. Documents Upload: The Partnership Firm Application Form 1, plus all the other Partnership Firm documents mentioned previously, needs to be uploaded into the system by selecting the file upload option.

Image 3 Partnership Firm Registration in Andhra Pradesh

• Step 9. Save Draft: Save the Partnership Application in a draft and check all details entered before confirming the payment.

• Step 10. Payment and Application Submission: Once you are satisfied that everything is correct confirm the payment and the application, and ap registration search,  will be sent to the concerned registrar.

All names of businesses are maintained by the Register of Firms at their headquarters. Their records include up-to-date information about all registered firms. PAN Cards are also part of the mandatory Partnership Firms set-ups and applications for these are made to the Income Tax Department. Once the PAN Card application process is complete, and the Partnership Firm has received the Pan Card, the Partnership Firm can open a current bank account and use all the bank services that the bank has to offer.

Application Status Checks

Online status application, ap registration search, checks can be made for status updates. Just make sure you enter all the correct references, click on submit, and the application status will appear on the screen.

Image 4 Partnership Firm Registration in Andhra Pradesh

For further information refer Company Vakil experts.