Partnership Deed is a fundamental document for the firm as it governs the firm’s operations and activities. The partners must abide by the clauses of partnership deed during its existence and must not act beyond the scope drawn. Hence, to extend or restrict the scope of activities or operations, partners may change the partnership agreement.
The changes in Partnership deed are made by execution of a supplementary deed which is an addendum to the original partnership deed. Payment of appropriate stamp duty is a must for said deed. The registration of the supplementary deed would be compulsory if the firm is already registered with Registrar of Firm.