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AFTERSCHO☺OL
– DEVELOPING CHANGE MAKERS
CENTRE FOR SOCIAL ENTREPRENEURSHIP
PGPSE PROGRAMME –
World’ Most Comprehensive programme in social
entrepreneurship & spiritual entrepreneurship
OPEN FOR ALL FREE FOR ALL
www.afterschoool.tk
02/04/09 AFTERSCHO☺OL's
AFTERSCHO☺OL's MATERIAL
MATERIAL 1
www.afterschoool.tk FOR PGPSE PARTICIPANTS
INDIAN PARTNERSHIP ACT
Dr. T.K. Jain.
AFTERSCHO☺OL
Centre for social entrepreneurship
Bikaner M: 9414430763
tkjainbkn@yahoo.co.in
www.afterschool.tk, www.afterschoool.tk
www.afterschoool.tk
02/04/09 AFTERSCHO☺OL's
AFTERSCHO☺OL's MATERIAL
MATERIAL 2
www.afterschoool.tk FOR PGPSE PARTICIPANTS
What is a partnership?
• It is a contract between 2 to 20 (10 in
some cases) partners to run a business
together and share the profit / loss
• There is unlimited liability
• There is sharing of profit / loss
• It is a voluntary agreement
• Both the partners are competent to
contract ( a minor can be partner – but
only in profits and cannot take decision).
02/04/09 AFTERSCHO☺OL's MATERIAL 3
www.afterschoool.tk FOR PGPSE PARTICIPANTS
Registration of partnership firm
• Registration of firm is not compulsory, though
usually done as registration brings many
advantages to the firm. Since partnership
contract‘ is a Concurrent Subject‘ as per
Constitution of India, registration of firms and
related work is handled by State Government in
each State. Section 71 authorises State
Government to make rules for prescribing fees
for filing documents with registrar prescribing
forms of various statements and intimations are
to be made to registrar and regulating
procedures in the office of Registrar.