- 9414883452
- contact@submitreturn.com
Businesses Served
Google Review
Satisfaction Guaranteed
The Partnership Deed is a foundational document that governs the operations and activities of a partnership firm. Partners are required to act within the scope defined by the deed throughout its existence. Therefore, to expand or limit the scope of business operations, the partnership agreement must be amended.
Such amendments are made through the execution of a Supplementary Deed, which serves as an addendum to the original Partnership Deed. The payment of applicable stamp duty is mandatory for this deed. Additionally, if the firm is registered with the Registrar of Firms, registration of the Supplementary Deed is also compulsory.
This is one of the most common reasons for modifying a partnership deed. As the business grows, a partner may need to be added, or an existing partner may be unable to continue due to resignation, removal, or death. In all such cases—whether it involves the appointment, addition, or exit of a partner—a Supplementary Partnership Deed must be executed to reflect the changes.
As mentioned, a firm cannot operate beyond the scope defined in its partnership agreement. Therefore, if the partners wish to undertake new business activities, the business clause in the partnership deed must be amended to include them. Similarly, the deed may be modified to restrict the scope by removing activities that are no longer carried out.
While capital is essential for business growth, partners also expect returns on their investment. Capital may be increased to support expansion or other needs, which often leads to changes in profit-sharing or ownership ratios. Such changes require an amendment to the partnership deed and the payment of additional stamp duty to the government.
Changes such as the partnership name, relocation of the principal place of business, or the addition of branch offices can be made effective by executing a Supplementary Deed. Other amendable clauses include terms and conditions of appointment, resignation and notice periods, operational powers, jurisdiction, dissolution procedures, and the duration of the partnership.
Original Partnership deed with the modifications made, if any
Copy of PAN card of the firm to be provided
Copy of PAN card and address proof of new partner, if applicable
Call us at: 9414883452 or Email us : contact@submitreturn.com
The name of a partnership firm can be changed with the unanimous consent of all partners, as it constitutes a change in the firm’s constitution. After executing the change, the firm must update its name across all registrations, including the PAN card. Please note that PAN update services are not included in the current package.
Call us at: 9414883452 or Email us : contact@submitreturn.com
Here’s what keeps us going strong.