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Name the Act that Provides for the Maximum Number of Partners in a Partnership Firm. What is the Maximum Number of Partners that a Partnership Firm Can Have? - Accountancy

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Name the Act that provides for the maximum number of partners in a partnership firm. What is the maximum number of partners that a partnership firm can have?

What is the maximum number of partners that a partnership firm can have? Name the Act that provides for the maximum number of partners in a partnership firm.

A group of 40 people wants to form a partnership firm. They want your advice regarding the maximum number of persons that can be there in a partnership firm and the name of the Act under whose provisions it is given.

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Solution 1

A partnership firm can have minimum two and maximum 50 partners as per the new Companies Act, 2013 and vide Rule 10 of the companies (Miscellaneous) Rules, 2014.

Solution 2

The maximum number of partners in a partnership firm has been given as per the Rule (10) of Companies (Miscellaneous) Rules Act 2014. The maximum number of partners that a partnership firm can have is 50. 

Concept: Accounting for Partnership Firms - Reconstitution and Dissolution
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