About Firms

Q 1. How many minimum partners required to form a firm ?

Ans. Two Partners.

Q 2. Can a govt. employee be a partner of a firm?

Ans. No.

Q 3. Is the Renewal of Firm is required ?

Ans. No Renewal.

Q 4. What is the fees for Registration?

Ans. Rs. 150.00

Q 5. Can a minor become a partner in a Firm?

Ans. Yes. But only in profit.

Q 6. How many copies of Form No.1 are required for Registration?

Ans. Two Copies.

Q 7. How many maximum partners required to form a firm?

Ans. In Banking branches - 10
       Others - 20

Q 8. What will happen if the minimum number of partners become less than Two?

Ans. Firm stand dissolved .