IS IT COMPULSORY TO REGISTER PARTNERSHIP FIRM IN MAHARASHTRA? I READ FOLLOWING LINES SOME WHERE
FOR MAHARASHTRA [In Maharashtra, registration is almost compulsory. For the purpose of income tax benefits It is necessary to register a partnership with the Department under S. 184 and S.185 of the Income Tax Act, 1961. For the Influence of the Income Tax Act on partnership, see Ch. III in Part Viii.]
30 July 2011
It is voluntary and not compulsory to register partnership firm in MH.
The above lines are for the purpose of Income Tax Act, under sec 184 and 185 conditions are enumerated to be satisfied by a partnership firm in order to claim deduction of Remuneration and Interest paid to partners, the basic necessity is for a firm registered or not, is to submit the Copy of Partnership Deed alongwith the First Income Tax Return to the Income Tax Department
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