What is the Maximum Number of Person for Partnership Firm?

By Mandeep Kumar|Updated : June 28th, 2022

The maximum number of people prescribed for a partnership firm is 50. It was enacted by the Parliament of India under Section 44(d) of The Indian Partnership Act, 1932 on 1 October 1932 except for section 69.

Answer: The maximum number of person for a partnership firm is 50.

The Indian Partnership Act, 1932 defines Partnership as “Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.” The partners can run the business of the firm by being true to each other.

The Indian Partnership Act, 1932 was enacted in India on 1 October 1932 except for section 69 which came into force on the 1st day of October 1933.

What is the Maximum Number of Person for Partnership Firm?

The Indian Partnership Act, 1932 prescribes the maximum number of person for a partnership firm as 50 vide Rule 10 of the Companies (Miscellaneous) Rules, 2014.

Comments

write a comment

PO, Clerk, SO, Insurance

BankingIBPS POIBPS ClerkSBI POIBPS SOSBI ClerkRBIIDBI SOIBPS RRBLICESICNainital BankOtherQuick LinkMock Test

Follow us for latest updates