Taxmann's Indian Partnership Act 1932 – Bare Act with Section Notes

Indian Partnership Act 1932 [Bare Act with Section Notes] by Taxmann provides a comprehensive, up-to-date consolidation of India's law on partnership. The statute defines and governs the relations of partners inter se and with third parties, covering essential provisions such as the nature of the partnership, registration requirements, rights and duties of partners, and scenarios dealing with dissolution. This 2025 edition brings together the text of the law and detailed section-wise notes that shed light on key judicial interpretations, state amendments, and practical applications.

This book is intended for the following audience:

• Law Students & Academics – A foundational resource for understanding partnership law, complete with the statutory text and notes that elaborate on critical sections and concepts
• Legal Professionals – Advocates, law firms, and in-house counsel will find it invaluable for quick reference, in-depth case law insights, and procedural guidance on registering and managing partnerships
• Business Owners & Chartered Accountants – Small and medium enterprise (SME) owners, partnership firms, and finance professionals can rely on the section notes and explanatory material to understand compliance requirements, rights, and liabilities within a partnership structure
• Judicial & Quasi-Judicial Authorities – Judges, arbitrators, and mediators requiring a handy reference to legislative provisions and relevant state amendments

The Present Publication is the 2025 Edition, covering the amended and updated text of the Indian Partnership Act [Act No. 9 of 1932], with the following noteworthy features:

• [Bare Act & Section Notes] Presents the statutory text along with succinct notes clarifying complex areas, including references to leading case law
• [Up-to-date Amendments] Incorporates changes from various State Amendments that alter or supplement the Central Act—crucial for practitioners dealing with multiple jurisdictions
• [Pre-amendment Provisions] Incorporates the text of provisions as they existed prior to the amendment in the respective amendment footnotes, enabling the reader to understand the legal position before the amendment and its applicability during the pre-amendment period
• [Detailed Commentary] Each section is accompanied by explanations, cross-references, and relevant judicial pronouncements to illustrate practical applications
• [Latest Judicial Guidance] Where relevant, the commentary includes Supreme Court and High Court rulings, explaining how courts interpret key provisions
• [User-friendly Layout] Demarcated headings, chapter-wise arrangement, and a comprehensive Subject Index for quick navigation
• [Practical Insights] Highlights procedural aspects of partnership registration, dissolution, minor's admission to partnership benefits, retirement, and expulsion of partners

The structure of the book is as follows:

• Chapter-wise Arrangement – The Bare Act text is organised into eight chapters, each focusing on distinct facets of partnership law—from 'Preliminary' to 'Supplemental'
• Section-wise Commentary – After each section's text, concise notes clarify the provision's scope, its interplay with other sections, relevant state-specific changes, and case references
• State Amendments – Each relevant section is followed by a separate 'State Amendment', highlighting local modifications effective in different states
• Subject Index – A detailed index at the end cross-references key terms, enabling quick look-ups of topics like 'liabilities of partners,' 'dissolution,' and 'registration procedures'