Firm & Society Registration
Partnership Firm:
A Partnership is where two (or more) people join hands to carry out a business for profit. The partners become joint business owners and carry out operations governed by the partnership deed. The regulations are least and it makes it a desirable option for businesses having joint owners. However, in a partnership firm the partners are jointly and individually liable for debts of the firm. This form of structure is ideal if there are no/less requirement of external funds and low risk of bad-debts for example consultancy firms.Running a firm where multiple partners decide the terms of business operation has many legal and compliance angles. Such matters are best left to experts! Choose this plan to avail end to end services right from registering as a partnership firm to preparation of documents involved.
Partnership firms are governed by the Indian Partnership Act, 1932. Under the act, registration is not mandatory but it is advisable due to following reasons:
- Partner(s) can't file a case in any court against the firm/ other partners unless firm is registered.
- The unregistered firm or its partners can't file a case against third party on breach of a contract but the third party can file a Expert'se
- In case of a dispute with a third party, the unregistered firm or any of its partners cannot claim a set off
Services Covered:
- PAN Application
- Partnership Deed Drafting
- Filing of deed and other documents with the Registrar of Firms
- Issue of Registration Certificate
- GST Certificate
- Legal and Tax Advisory
A group of at least 2 people having a business idea, Small businesses looking to using pool of resources contributed by multiple people or Any existing unregistered Partnership Firm
Documents to Be Submitted
- Address proof of partners
- Photo ID proof of partners
- No objection certificate from the owner of the property of the property If Owned
- Ownership proof If Owned
- Rental or Lease agreement of your registered office
Society Registration:
A society is an association of several individuals combined using a mutual accord to deliberate, govern and act cooperatively for some communal purpose. Societies are usually registered for the advancement of charitable activities like sports, music, culture, religion, art, education, etc.
Society Registration, under, The Society Registration Act, in India, lays down certain procedures for the sake of society registration & operation. This act was implemented with the purpose of augmenting the legal stipulations of society registration for the advancement of literature, fine arts, science or distribution of awareness for bountiful purposes. The society registration act, 1860 has been accepted by several state governments without or with further amendments.
A society registration can be done for the development of fine arts, science, or literature or else for diffusion of purposeful knowledge or charitable purposes of political education. According to section 20 of Society Act, 1860, a society registration can be done for following purposes:
- Promotion of fine arts
- Diffusion of political education
- Grant of charitable assistance
- Promotion of science and literature
- Creation of military orphan funds
- Maintenance or foundation of galleries or public museum
- Maintenance or foundation of reading rooms or libraries
- Promotion or diffusion or instruction of useful knowledge
- Collections of natural history
- Collections of mechanical and philosophical inventions, designs, or instruments
Following are the documents required for the Society Registration in India:
1. PAN Card of all the members of the proposed society has to be submitted along with the application.
2. The Residence Proof of all the members of the society also has to be submitted. The following can be used as a valid residence proof:
- Bank Statement
- Aadhaar Card
- Utility Bill
- Driving License
- Passport
3. Memorandum of Association has to be prepared which will contain the following clauses and information:
- The work and the objectives of the society for which it is being established
- The details of the members forming the society
- It will contain the address of the registered office of the society
4. Rules & Regulations of the Society also have to be prepared which will contain the following information:
- Rules and regulations by which the working of the society will be governed and the maintenance of day to day activities
- It will contain the rules for taking the membership of the society
- The details about the meetings of the society and the frequency with which they are going to be held is to be mentioned
- Information about the Auditors
- Forms of Arbitration in case of any dispute between the members of the society
- Ways for the dissolution of the society will also be mentioned
Once the rules have been formed, they can be changed but the new set of rules will be signed by the President, Chairman, Vice President and the Secretary of the Society.
5. A covering letter mentioning the objective or the purpose for which the society is being formed will be annexed to the beginning of the application. It will be signed by all the founding members of the society.
6. A copy of the proof of address where the registered office of the society will be located along with a NOC from the landlord if any has to be attached.
7. A list of all the members of the governing body has to be given along with their signatures.
8. A declaration has to be given by the president of the proposed society that he is willing and competent to hold the said post.
All the above documents have to be submitted to the Registrar of Societies along with the requisite fees in 2 copies. On receiving the application, the registrar will sign the first copy as acknowledgment and return it while keeping the second copy for approval. On proper vetting of the documents, the registrar will issue an Incorporation Certificate by allotting a registration number to it.
The signed Rules & Regulations, as well as Memorandum, has to be filed with concerned society or registrar of state with a mentioned fee. If the registrar is fulfilled with society registration application, then they will certify that the society is registered.