PARTNERSHIP FIRM (AOP) – AN OVERVIEW

By Published On: May 21, 20224.2 min readViews: 672

PARTNERSHIP FIRM (AOP) – AN OVERVIEW

By Published On: May 21, 20224.2 min readViews: 672

Association of Persons (AOPs) includes a firm, any artificial juridical person and anybody of persons formed under foreign law, but does not include a company.

“Firm” means the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.

An AOP is a form of partnership. When two or more people become joint-owners to carry on a business together and share the profits and losses in agreed proportions of their investment ratios, they are in a partnership agreement.

The Partnership Act, 1932, has defined Partnership as, “The relation which subsists between persons who have agreed to combine their property, labour or skill in some business and share the profits and losses, thereof, between them.”

DOCUMENTS REQUIRED FOR REGISTRATION

  • Form-I

  • Partnership Deed on a Stamp Paper of Rs. 1000/-

  • Receipt regarding submission of Registration Fee in NBP.

  • Affidavit on a Stamp Paper of Rs. 5/-

  • Copy of lease agreement/ownership of the office address. (Office of the Firm should be in Commercial Area)

  • Copy of last paid utility bill (Electricity Bill).

  • Copy of Computerized valid N.I.C of all the Partners and Witnesses.

Registration Charges

Rs. 20,000

Registration Time

5-7 Working Days

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