Q: Elaborate about the minimum and maximum number of partners in partnership firm ?

Ans: According to section 4 of partnership act, a partnership firm is an agreement between two or more individuals who agree to share the profits and losses, respectively. So, there must be atleast two persons for partnership.

The Indian Partnership Act 1932 governs partnership but does not regulate the maximum no of partners in a partnership firm. 

It is determined by the Companies Act 2013 (section 464), which allows up to 100 as the maximum no of partners in partnership firms.


According to Rule 10 of Companies (Miscellaneous) Rules, 2014 states, the maximum no of partners in partnership firms should not exceed 50.


A partnership firm is formed by a minimum of two people.


The central government stated that the maximum no of partners in partnership firms could not exceed 50 as per Rule 10(2014).


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