Partnership firm registration is one of the flexible and cost-effective business structures for startups and established businesses, with very few compliances to keep the partnership registration active with the registrar of firms.
The government of Tamil Nadu has made the partnership firm registration process simple by implementing an online partnership deed registration facility.
The login facility will be available to all firms that have registered partnership deeds, partnership amendment deed registration, renewal, and submission of other forms are allowed only through the firm registration online login.
Application for issue of firm registration login credentials
With effective from 2021 online registration of partnership firms is implemented, those firms who had applied for partnership firm registration in a manual process before 2021 will not have a separate login for their firm.
The firms that do not have a login shall apply for login with the registrar of firms, login is required for filing various forms with the registrar of firms.
Get Partnership firm user ID and password generation e-mail by applying to the issue of partnership login, by each partner of the firm. On verification of the application, a login will be issued to the registered e-mail ID provided in the firm registration login application.
Partnership firm registration certificate download facility will be available in a new format after login is issued, all the process needs to be carried out through login once the login is issued.
Renewal of partnership firm registration
Partnership company registration should be renewed every year by filing a partnership firm registration renewal application also called as an annual declaration with the registrar of the firms, the due date for filing a partnership firm renewal application is June of the following financial year, and the declaration ensures that the partnership firm is active.
The annual return is a mandatory document to be filed every year for partnership registration renewal in Tamil Nadu, if the the annual return is not filed within the due date penalty of Rs.25 is payable for every 3-month delay in filing the annual return.
Any applications relating to the partnership firm will be approved only after the pending annual returns are filed, it is advisable to file annual returns every year to avoid hefty penalties later.
Application for adding and removing partners
If there is a change in partners by adding a new partner or removing an existing partner, it should be updated by filing the application for change in the partners of the firm. Once the application for change in the constitution of the firm is approved, only active partners can sign all the forms.
Documents required for amendment in the partners of the firm
- Partnership amendment deed for removal of partner.
- Partnership amendment deed for the addition of a partner.
- Notarized application for change in the constitution of the firm.
- New partner’s address proof and basic KYC details.
How to prepare a partnership deed amendment for adding and removing a partner?
The starting paragraph in the Partnership amendment deed should refer to the original partnership deed, and partnership firm amendment deeds already executed with the particulars of the date and name of the amendment deed.
There should be a minimum of two persons for keeping the partnership firm legally valid, therefore before preparing an amendment deed for the removal of a partner, it is recommended to ensure that the number of partners will not fall below 2 persons.
During the removal of the partner, adding a new partner, and transferring the partnership rights to another person, there will be a change in the profit-sharing ratio, capital of the firm, etc. When there is a change of partners in the partnership firm it is crucial to mention the capital that is brought in by the new partner and the amount paid to the resigning or outgoing partner. The partnership amendment deed should be prepared in 200 rupees non-judicial stamp paper for the firms registered in Tamil Nadu.
Application for change in the registered address of the partnership firm
Change the registered address of the firm, by applying for the change in principal place of business.
Documents required for amendment deed for change in address of the firm
- Amendment deed for change in the registered address.
- The application for change in the registered address of the firm with attestation of the notary.
- Rental agreement and supporting utility bills if there is already GST registration for the partnership firm, or GST registration is required to be applied in a short span.
How to prepare an amendment deed for change in the business address of a partnership firm
A partnership amendment deed for a change in business address should be executed only after the date of the rental agreement for a new address, rental agreement provides an additional layer of legal validity.
It is suggested that the address as per the TNEB database is used in the amendment deed so that, there mismatch between the address as per the TNEB summary electricity bill for GST registration and the partnership amendment deed can be avoided.
GST registration will be approved, only if the address in the electricity payment bill, the rental agreement, and the partnership amendment deed are the same.
Similarly, a change in the address of the branch also be applied to the registrar of firms by application for change in branch details.
Application for change in partner details
Change in details of the partners such as the address of the partner, contact information, or change in any other particulars need to be updated with this application.
It is recommended to add the partner’s name without initials and add the father’s name instead, as per legal documentation guidelines name of the father should be added along with the name of the person.
Application for dissolution of partnership firm
Dissolution of the partnership firm means, permanently closing the partnership firm in legal terms, this is the last step where the firm is to be closed and surrender of partnership registration certificate.
Partnership firm dissolution application shall be filed with the registrar of the partnership firm Tamil Nadu, with particulars such as the date of dissolution, the date of filing the last annual return, and the partnership firm dissolution deed signed and notarized by all the partners.
Cancel all the partnership GST registration numbers including the branch GST registration which is applied in the name of the firm, and proceed to partnership firm dissolution only after the GST registration certificate is canceled by the department and the GSTR-10 final return is filed.
How to get FORM-A for a partnership firm?
What is FORM-A for a partnership firm?
FORM-A is the statement provided by the registrar of the firms for the applicant, it contains the list of partners, the date of joining of each partner, the date of removal of each partner, and particulars of annual returns filed.
It contains details of all partnership firm amendments, and the date of last annual returns or renewal application filed.
This form is required for government tender applications, vendor signups with corporates, and high-value loans from financial institutions, it serves as an authenticated document issued by the government regarding the change in partners, and details of amendments. Only registered partnership firms can apply FORM-A.
A manual application is required to be used for the issue of FORM-A by the registrar of firms, the application shall be made along with requisite government fees, and on verification of the application registrar will issue FORM-A with the manual signature of the registrar and one other authorized officer.
What is the process for a partnership firm amendment registration?
Partnership firm amendment registration can be made through the Tamil Nadu registration department portal with prescribed fees for partnership amendment, and wherever required physical application and other documents are required to be submitted to the registrar of firms.
We also act as partnership registration consultants, partnership agreement registration consultants, partnership amendment deed registration or modification deed service providers, partnership firm consultants for annual return filing, and FORM-A for tender submission.
