Chandigarh, February 19: The Punjab Government has decidedto revise the nearly 90-year-old fee structure under the Indian PartnershipAct, 1932, to bring the same at par with other states.
The decision was taken on Friday by the Cabinet led by ChiefMinister Captain Amarinder Singh.
The Council of Ministers approved ‘The Indian Partnership (Punjab Amendment)Bill, 2021’ for the revision of fee for various services as contained inSchedule-1 under Section 71 of the Act, such as Registration of firms, Updationof records, Inspection and Copying.
Disclosing this, a spokesperson of the Chief Minister’sOffice said that the prescribed fee structure for various services as currentlycontained in Schedule-1 of the act is too meagre and has become irrelevant withthe passage of time, as the existing fee structure has not been revised sincethe Act came into force in 1932.
Under the revised structure, Rs.5000 would now be chargedfor making a statement under section 58 for application registration as againstRs. 3/- charged earlier. Instead of the existing Rs 1/-, the revised structure provides for chargingRs. 500 each for making a statement under section 60 for recording ofalternations in firm name and principal place of business, for intimation undersection 61 for noting of closing and opening of branches, for intimation undersection 62 for changes in names and addresses of partners, notice under section63 (1) & 63 (2) for recording of changes in and dissolution of a firm,recording of withdrawal of a minor besides application under section 64 forrectification of mistakes respectively, said the spokesperson.
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Further, Rs. 100 each in place of earlier fee of fifty paisawould be now charged for inspection of one volume of the register of firmsunder sub-section (1) of section 66, for inspection of all documents related toone firm under sub-section (2) of section 66 regarding inspection of registerand filed documents and Rs. 20 against previous fee of twenty five paise foreach hundred words or part thereof regarding copies from the register of firmsunder section 67 for the purpose of grant of copies.
Notably, barring Punjab and Haryana, other major states likeMaharashtra, Rajasthan, Madhya Pradesh and Uttar Pradesh have been charginghigher fee for various services offered under the Indian Partnership Act, 1932.