Q.Under Sections 58-59 of the Indian Partnership Act, 1932, the statement filed for registering a firm must state all of the following EXCEPT:
(A) The name of the firm
(B) The date each partner joined the firm
(C) The names and permanent addresses of the partners
(D) The amount of profit earned by the firm in its most recent financial year

Section 58 lists exactly five items the registration statement must contain — none of them relate to the firm's profit figures.

Why (D) is correct (i.e., NOT required): Section 58 requires the statement to disclose the firm's name; its place(s) of business; the date each partner joined; the names and permanent addresses of the partners; and the duration of the firm — nothing about the firm's actual profit or financial performance is required for registration. …

Students sometimes assume registration is a financial/tax filing similar to an income return, and expect profit figures to be part of it. Registration under this Act is purely a …