Introduction

Partnership is a form of business organization , where two or more persons join together for jointly
carrying on some lawful business.there could be a written or oral agreement between partners
.written agreement is preferred so that it could be used in the court of law whenever needed.the firm
follow indian partnership act 1932.the partnership firm may or may not go for registering . as the
registration of the partnership firms in India is not compulsory it is optional. registration of firm
merely certifies its existance.but it is compulsory in maharashtra with the effect from 1st april 1985.
Registration may take place at any time during the continuance of the partnership firm. Where the
firm intends to institute a suit in a court of law to enforce rights arising from any contract, registration
must be affected before the suit is instituted otherwise the court shall not entertain the
suit.Registration may also be affected even after a suit has been filed by the firm but in that case it is
necessary to withdraw the suit, get the firm registered and then file a fresh suit. Registration of the
firm subsequent to the institution of the suit cannot by itself cure the defect.

Though registration of the firm is optional at the discretion of the partners, an unregistered firm
suffers from certain disabilities. These disabilities have indirectly made some sort of compulsion on
the part of the firms to be registered. In case of unregistered firm, payment of salary, commission,
interest on borrowings or drawings are not considered as allowable expenses for determination of
total income for payment of tax.It is essential that a Partnership firm should be formed for the
Purpose of carrying out business and that profit/loss should be divided among the partners as per the
Agreement between them. If the agreement does not provide information about profit sharing ratio,
the whole profit/loss is divided among the partners equally.

When the written agreement is duly stamped and registered, it is known as "Partnership Deed".
Ordinarily, the rights, duties and liabilities of partners are laid down in the deed. But in the case where
the deed does not specify the rights and obligations, the provisions of the THE INDIAN PARTNERSHIP
ACT, 1932 will apply. The deed generally contains the following particulars:

Name of the firm.

Nature of the business to be carried out.

Names of the partners.

The town and the place where business will be carried on.

The amount of capital to be contributed by each partner.

Loans and advances by partners and the interest payable on them.

The amount of drawings by each partner and the rate of interest allowed thereon.

Duties and powers of each partner.

 Any other terms and conditions to run the business

AIMS AND OBJECTIVES

TO know the procedure for registration of partnership firm

TO know the document require for registration

TO know the benefit of registration

TO know the effect of non registration

TO know the importance of partnership agreement

TO know the time for registration of firm

METHOD AND METHADOLOGY

surveys are becoming an essential research tool for a variety of research fields, including marketing,
social and official statistics research.online survey research accounted for 20% of global data-
collection expenditure in 2006. They offer capabilities beyond those available for any other type of
self-administered questionnaire. Online consumer panels are also used extensively for carrying out
surveys but the quality is considered inferior because the panelists are regular contributors and tend
to be fatigued. However, when estimating the measurement quality (defined as product of reliability
and validity) using a multitrait-mutlimethod approach (MTMM), some studies found a quite
reasonable quality and even that the quality of a series of questions in an online opt-in panel
(Netquest) was very similar to the measurement quality for the same questions asked in the
European Social Survey (ESS), which is a face-to-face survey.

Some studies have compared the quality of face-to-face surveys and/or telephone surveys with the
one of online surveys, for single questions, but also for more complex concepts measured with more
than one question (also called Composite Scores or Index). Focusing only on probability-based
surveys (also for the online ones), they found overall that the face-to-face (using show-cards) and
web surveys have quite similar levels of measurement quality, whereas the telephone surveys were
performing worse. Other studies comparing paper-and-pencil questionnaires with web-based
questionnaires showed that employees preferred online survey approaches to the paper-and-pencil
format. There are also concerns about what has been called "ballot stuffing" in which employees
make repeated responses to the same survey. Some employees are also concerned about privacy.
Even if they do not provide their names when responding to a company survey, can they be certain
that their anonymity is protected? Such fears prevent some employees from expressing an opinion

Detail report
Importance of Partnership Agreement
A Partnership Agreement is a voluntary contract between two or more persons to enter into a
business relationship between or among one another with the intention of carrying out the said
business and sharing its profits/losses among themselves as agreed to in the document.

The parties to the agreement are referred to as Partners. The Partners agree to put all their capital,
labour and skills towards achieving maximum gains from the venture. A Partnership Agreement will
also spell out the manner in which it may be dissolved and must be signed and followed by each of the
Partners.

A Partnership Agreement is defined as being an arrangement that is agreed to by all parties to the
transaction and is an effectual method of helping each of the partners to:

Agree to share a vision to collaborate together

Set up mutually acceptable goals

Specify the basis on which to begin working together

Make sure that each of the partners are clear about about what needs to be achieved

Assess the effectiveness of the agreement

Bring out issues related to accountability and responsibility

Lay a strong foundation that can sail through difficulties and testing times ahea

1. Procedure of Registration
The procedure for Registration of Partnership Firms in India is fairly simple. An application and the
prescribed fees are required to be submitted to the Registrar of Firms of the State in which the firm is
situated. The following documents are also required to be submitted along with the application:-

1. Application for Registration of Partnership in Form No. 1

2. Duly filled specimen of Affidavit

3. Certified True Copy of the Partnership Deed

4. Ownership proof of the principal place of business or rental/lease agreement thereof.

The application or statement must be signed by all the partners, or by their agents especially
authorised in this behalf. When the registrar is satisfied with the points stated in the partnership deed,
he shall record an entry of the statement in a register called the Register of Firms and issue a
Certificate of Registration

Advantages / Benefits of Registration:

The effects of non-registration or disabilities of an unregistered firm have been pointed above.
Considering the same, the advantages or benefits of registration can be as follows :

i. The firm can sue third parties to enforce its claim.

ii. A partner can enforce his claim against third parties or against his co-partner.

iii. The interest of third parties is safeguarded against fraud of partners because statement submitted
to the Registrar is a conclusive proof of the existence partnership and the composition of partners.

iv. An incoming partner is empowered to enforce his dues against the other co-partners otherwise he
would have to rely on their honesty.

v. A retired or expelled partner is exempted from liabilities of the firm incurred after his retirement or
expulsion by giving a public notice and effecting the necessary changes in the register of firms.

Effects of Non-Registration:An unregistered firm and its partners suffer from the following
disabilities:

i. An unregistered firm cannot file a suit against a third party to enforce a right arising from a contract.
(For example, for the recovery of the price of goods supplied)

ii. A partner cannot file a suit against the firm or co-partners to enforce his rights under the
Partnership Deed.

iii. An unregistered firm cannot claim a set-off against a third party to enforce right arising from a
contract exceeding Rs.100 in value.

Exception: The non-registration of a firm, however, does not affect the follow rights:
i. The rights of third parties to sue the firm or any partner.

ii. The rights of a partner to sue for dissolution of the firm, accounts after dissolution and realisation of
property after dissolution.

iii. The rights of firm or partners of firm having no place of business in India.

iv. The right to sue or claim a set-off of value not exceeding Rs. 100.

v. The powers of an Official Assignee or Receiver or the Court to realise the prop of an insolvent
partner.
conclusion
Reference
http://www.preservearticles.com/201101153417/complete-information-on-the-procedure-of-
registering-a-partnership-firm-in-india.html
http://www.legalservicesindia.com/article/article/indian-partnership-act-1932-158-1.html
http://www.commercevilla.com/partnership-firm.html