hints for drafting a good instrument of partnership...

HINTS FOR DRAFTING A GOOD INSTRUMENT OF

PARTNERSHIP / PARTNERSHIP DEED

1/10/2017 CA. UMESH BOLMAL, BELGAUM

PARTNERSHIP DEED

CA. UMESH BOLMAL

BELGAUM

HINTS FOR DRAFTING A GOOD INSTRUMENT OF

PARTNERSHIP / PARTNERSHIP DEED

CA. UMESH BOLMAL, BELGAUM

PARTNERSHIP DEED

BY

CA. UMESH BOLMAL

BELGAUM

1. How and whyAct, 1932 was

1/10/2017 CA. UMESH BOLMAL, BELGAUM

why Indian Partnershipwas enacted?

CA. UMESH BOLMAL, BELGAUM

2. Is it necessaryprovisionsPartnership

1/10/2017 CA. UMESH BOLMAL, BELGAUM

Partnershipunderstandingof Income Taxtaxation of

necessary to study theof Indian

Act, 1932 for

CA. UMESH BOLMAL, BELGAUM

Act, 1932 forunderstanding the provisions

Tax Act relating topartnership firms?

3. WhetherPARTNERSHIPPARTNERSHIP”

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PARTNERSHIP”terms?

“INSTRUMENT OFand “DEED OF

PARTNERSHIP” are identical

CA. UMESH BOLMAL, BELGAUM

PARTNERSHIP” are identical

4. What are thesatisfiedfirm as per

1/10/2017 CA. UMESH BOLMAL, BELGAUM

firm as perIndian Partnership

the conditions to befor a partnership

per the provisions of

CA. UMESH BOLMAL, BELGAUM

per the provisions ofPartnership Act, 1932?

5. What is thepapers to bea partnership

1/10/2017 CA. UMESH BOLMAL, BELGAUM

a partnershipchange infirm?

the value of stampbe purchased to form

partnership or when there is

CA. UMESH BOLMAL, BELGAUM

partnership or when there isconstitution of the

6. What are minimumnumber ofpartnership

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partnership

minimum and maximumpartners that a

partnership firm should have?

CA. UMESH BOLMAL, BELGAUM

partnership firm should have?

7. Who can become

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become a partner?

CA. UMESH BOLMAL, BELGAUM

8. Minor as a

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a partner

CA. UMESH BOLMAL, BELGAUM

9. Whether stampbefore sixfor drafting

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for draftingpartnership?

stamp papers purchasedmonths can be used

drafting the Instrument of

CA. UMESH BOLMAL, BELGAUM

drafting the Instrument ofpartnership?

10. When an instrument of partnership becomes defective?

1/10/2017 CA. UMESH BOLMAL, BELGAUM

When an instrument of partnership becomes defective?

CA. UMESH BOLMAL, BELGAUM

INSTRUMENT OF

PARTNERSHIP / PARTNERSHIP DEED

1/10/2017 CA. UMESH BOLMAL, BELGAUM

INSTRUMENT OF

PARTNERSHIP / PARTNERSHIP DEED

CA. UMESH BOLMAL, BELGAUM

PREAMBLE

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PREAMBLE

CA. UMESH BOLMAL, BELGAUM

1. NAME OF THE FIRM

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NAME OF THE FIRM

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2. COMMENCEMENT AND DURATION

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COMMENCEMENT AND DURATION

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3. BUSINESS OF FIRM

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BUSINESS OF FIRM

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4. CAPITAL OF PARTNERS

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CAPITAL OF PARTNERS

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5. INTEREST TO PARTNERS

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INTEREST TO PARTNERS

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6. WORKING PARTNERS AND THEIR REMUNERATION

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WORKING PARTNERS AND THEIR REMUNERATION

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7. SHARE OF PARTNERS IN PROFIT AND LOSSES

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SHARE OF PARTNERS IN PROFIT

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8. ACCOUNTING YEAR

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ACCOUNTING YEAR

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9. BOOKS OF ACCOUNTS

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BOOKS OF ACCOUNTS

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10. ADMISSION OF NEW PARTNER

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ADMISSION OF NEW PARTNER

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11. RETIREMENT OF PARTNER

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RETIREMENT OF PARTNER

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12. BANK ACCOUNTS

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BANK ACCOUNTS

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13. LOANS FROM BANKS OR FINANCIAL INSTITUTIONS

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LOANS FROM BANKS OR FINANCIAL INSTITUTIONS

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14. PARTNERSHIP PROPERTY

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PARTNERSHIP PROPERTY

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15. DEATH OF PARTNER AND DISSOLUTION OF FIRM

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DEATH OF PARTNER AND DISSOLUTION

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16. ARBITRATION CLAUSE

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ARBITRATION CLAUSE

CA. UMESH BOLMAL, BELGAUM

THANK YOU

1/10/2017 CA. UMESH BOLMAL, BELGAUM

THANK YOUTHANK YOU

CA. UMESH BOLMAL, BELGAUM

THANK YOU