Question

A partnership firm has 45 partners. It wants to admit 7 more partners into partnership. Only ____ more partners can be admitted in the partnership firm according to Companies Act, 2013.

• A. 1
• B. 6
• C. 5
• D. 3

Hint:

Always remember that the maximum number of partners allowed in a partnership firm under the Companies Act, 2013, is 50 unless registered as a company.

Answer 1

The Correct Option is C

Explanation of the Companies Act, 2013 limit According to Section 464 of the Companies Act, 2013, a partnership firm can have a maximum of 50 partners unless it is registered as a company. 
Calculating the remaining number of partners that can be added Currently, the partnership firm has 45 partners. The maximum allowable limit is 50 partners. \[ {Remaining partners that can be admitted} = 50 - 45 = 5 \] 
Conclusion of the Solution Therefore, only 5 more partners can be admitted into the partnership firm.