Identify the way by which the clauses of partnership deed can be altered.

The correct option is: On the basis of all the partners' consent.

A partnership deed is a voluntary agreement template or document formulated among partners that governs their rights, duties, and liabilities in a partnership firm. Since the partnership itself is based on mutual trust and agreement among all partners, any modification to this fundamental agreement requires unanimous consensus.

Under partnership law, the clauses of a partnership deed can be altered or amended at any time, but such alterations can only be executed with the consent of all the partners of the firm. Unilateral changes or changes based on a simple majority are not permissible unless specifically provided for in the original deed. Furthermore, the Registrar of Companies (RoC) has no jurisdiction or authority to alter a partnership deed, as it is a private contract between the partners.