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How to register a Partnership Firm in Madhya Pradesh? - BizAdvisors

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How to register a Partnership Firm in Madhya Pradesh?

Partnership Firm in Madhya Pradesh

Partnership Firm in Madhya Pradesh is governed by the laws defined under the Indian Partnership Act, 1932. A Partnership Firm is created when two or more person band together and pool resources to launch a business. Partnership businesses’ main goal is to make a profit. 

A Partnership Firm Registration is a must to be obtained by the organizations who work together for a business venture and to earn profit out of it. Thus anyone who is keenly interested to work in a Partnership Firm in Madhya Pradesh requires prior registration in the state. In this blog, we closely look into the registration of a Partnership Firm in Madhya Pradesh, and the procedures for registering the Partnership Firm.

Benefits of Partnership Firm in Madhya Pradesh

It is essential for a Partnership Firm to get registered due to its various benefits into it. These benefits are:

  1. Easy Incorporation
  2. Fewer Compliances
  3. Ratio of Profit
  4. Fast Decision 
  5. power to file suits against the partner or firm

Documents required for Partnership Firm in Madhya Pradesh

Indian Partnership Act, 1932, regulates the registration of a Partnership Firm in Madhya Pradesh. Some documents required to register a Partnership Firm in Madhya Pradesh are as follows:

  1. Partnership Deed
  2. Affidavit of acknowledgment of all the details mentioned and Attested by Notary
  3. Office Address Proof
  4. Address proof of all the partner
  5. ID Proofs of Partners
  6. Passport-size photographs of all partners
  7. Rent agreement from the Owner of the house (optional)

Online procedure for registering the Partnership Firm in Madhya Pradesh

The Registrar of Firms in the state where the business is located must receive a completed application form together with the necessary payments, which typically vary from location to location. The registration application must be signed and verified by each of the firm’s partners or their representatives.

For the purpose of registration of a Partnership Firm in Madhya Pradesh, it is important to see the provisions mentioned under The M.P. Partnership (Registration of firms) Rules, 1951[1].

Section 12 of The M.P. Partnership (Registration of firms) Rules 1951, states that “ A separate file shall be maintained in respect of each firm, in which the documents received by the Registrar relating thereto shall, from time to time, be filed. No document shall be filed by the Registrar unless the fee prescribed therefor has been paid.”

To register for Partnership Firm in Madhya Pradesh, follow the steps mentioned here:

Step 1: The applicant shall open the official web portal of the Madhya Pradesh state government. 

Step 2: Click on the “Citizen Service” menu and select the “Application” option on the home page.

Step 3: On the later page, from the list of services shown, tap on the Firms and Society icon.

Step 4: Then the applicant has to create a “New User Login” for registration.

Step 5: Click on the “New User” button, and then the form will open up on the screen.

Step 6: The registration form will open up; the applicant has to fill in the required details in the form and click “Register”.

Step 7:  Later click on the “Apply for firm registration” option.

Step 8: The application form will open up; the applicant has to fill in the required details like firm details, partner details, and personal details in the form.

Step 9: Then, attach the required scanned documents for it with the application form.

Step 10: Click on “Submit” to save your details after filing the form.

Step 11: Upon submission, the application number will be generated for further reference.

Step 12: Then Click on the tab “Proceed to pay for registration fee” for the payment of fees for it.

Step 13: The user needs to select “Firms and Societies” from the list of departments.

Step 14: Fill in the required details and submit the application form.

Step 15: On submission, the user will be redirected to the banking website.

Step 16: Then, one needs to fill in the required details and pay the amount at the selected bank’s payment portal.

Step 17: Now, the application ID, Transaction ID, and Challan Reference ID will be generated.

Section 13 of The M.P. Partnership (Registration of firms) Rules 1951, defines account of and receipt of fees “An account of all fees received in the Registrar’s office shall be maintained therein in Form XI. A receipt in Form XII shall be granted in respect of every’ fee received.”

Step 18: The user has to log in again to the portal.

Step 19: Click on “Unpaid application” which is below the track application menu.

Step 20: The user needs to select “Firm Application” to proceed with payment.

Step 21: Fill in the details and save the document and pay the portal fee for successful registration.

Note: The status of the application will be visible after five to seven working days from the date of application.

Conclusion 

The CAs and CS are experts in their profession and have years of expertise. In a few easy steps, they assist you in quickly completing the registration process for a partnership firm. They have very low and reasonable fees that they are charging. Stop waiting right now. To experience the best partnership company registration process, register with Bizadvisors. If you need any assistance in registering a Partnership Firm in Madhya Pradesh, get in touch with Bizadvisor, they can surely make your work easy and convenient and also saves the time. Saving time is an art and inventing that time in your business makes that whole thing more productive.

Read our article:How to Register a Partnership Firm in Gujarat?

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