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Registration of partnership firm is not …

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Registration of partnership firm is not compulsory but it is better to registered . Why and explain

    • Posted by Aayushi Gupta 4 years, 1 month ago

    CBSE > Class 11 > Business Studies
    • 1 answers

    Gaurav Seth 4 years, 1 month ago

    It is not compulsory for partnership firms to get themselves registered. However, it is beneficial to get themselves registered because an unregistered firm has to suffer the following consequences :
    1.A partner of an unregistered firm cannot file a suit against any other partner or the firm for enforcing his legal rights.
    2.An unregistered firm cannot file a suit against any third party or partner for enforcing legal rights.
    3.Any partner of an unregistered firm cannot claim a set off in a legal proceeding carried on against the firm by a third party for enforcing any legal right.
    4.No salary or commission is provided to any of the partners.

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