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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
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1. How and whyAct, 1932 was
1/10/2017 CA. UMESH BOLMAL, BELGAUM
why Indian Partnershipwas enacted?
CA. UMESH BOLMAL, BELGAUM
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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?
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3. WhetherPARTNERSHIPPARTNERSHIP”
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PARTNERSHIP”terms?
“INSTRUMENT OFand “DEED OF
PARTNERSHIP” are identical
CA. UMESH BOLMAL, BELGAUM
PARTNERSHIP” are identical
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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?
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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
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6. What are minimumnumber ofpartnership
1/10/2017 CA. UMESH BOLMAL, BELGAUM
partnership
minimum and maximumpartners that a
partnership firm should have?
CA. UMESH BOLMAL, BELGAUM
partnership firm should have?
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7. Who can become
1/10/2017 CA. UMESH BOLMAL, BELGAUM
become a partner?
CA. UMESH BOLMAL, BELGAUM
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8. Minor as a
1/10/2017 CA. UMESH BOLMAL, BELGAUM
a partner
CA. UMESH BOLMAL, BELGAUM
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9. Whether stampbefore sixfor drafting
1/10/2017 CA. UMESH BOLMAL, BELGAUM
for draftingpartnership?
stamp papers purchasedmonths can be used
drafting the Instrument of
CA. UMESH BOLMAL, BELGAUM
drafting the Instrument ofpartnership?
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10. When an instrument of partnership becomes defective?
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When an instrument of partnership becomes defective?
CA. UMESH BOLMAL, BELGAUM
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INSTRUMENT OF
PARTNERSHIP / PARTNERSHIP DEED
1/10/2017 CA. UMESH BOLMAL, BELGAUM
INSTRUMENT OF
PARTNERSHIP / PARTNERSHIP DEED
CA. UMESH BOLMAL, BELGAUM
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PREAMBLE
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PREAMBLE
CA. UMESH BOLMAL, BELGAUM
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1. NAME OF THE FIRM
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NAME OF THE FIRM
CA. UMESH BOLMAL, BELGAUM
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2. COMMENCEMENT AND DURATION
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COMMENCEMENT AND DURATION
CA. UMESH BOLMAL, BELGAUM
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3. BUSINESS OF FIRM
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BUSINESS OF FIRM
CA. UMESH BOLMAL, BELGAUM
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4. CAPITAL OF PARTNERS
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CAPITAL OF PARTNERS
CA. UMESH BOLMAL, BELGAUM
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5. INTEREST TO PARTNERS
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INTEREST TO PARTNERS
CA. UMESH BOLMAL, BELGAUM
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6. WORKING PARTNERS AND THEIR REMUNERATION
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WORKING PARTNERS AND THEIR REMUNERATION
CA. UMESH BOLMAL, BELGAUM
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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
CA. UMESH BOLMAL, BELGAUM
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9. BOOKS OF ACCOUNTS
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BOOKS OF ACCOUNTS
CA. UMESH BOLMAL, BELGAUM
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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
CA. UMESH BOLMAL, BELGAUM
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12. BANK ACCOUNTS
1/10/2017 CA. UMESH BOLMAL, BELGAUM
BANK ACCOUNTS
CA. UMESH BOLMAL, BELGAUM
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13. LOANS FROM BANKS OR FINANCIAL INSTITUTIONS
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LOANS FROM BANKS OR FINANCIAL INSTITUTIONS
CA. UMESH BOLMAL, BELGAUM
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14. PARTNERSHIP PROPERTY
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PARTNERSHIP PROPERTY
CA. UMESH BOLMAL, BELGAUM
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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
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THANK YOU
1/10/2017 CA. UMESH BOLMAL, BELGAUM
THANK YOUTHANK YOU
CA. UMESH BOLMAL, BELGAUM
THANK YOU