Partnership Firm Registration

Register your Partnership Firm in a hassle free environment and in the shortest possible time.

  • Start your Partnership firm with any amount of Capital contribution.

  • Minimum Compliance.

  • Can be Registered or Unregistered.

  • Get Expert Advice

Startup @ Rs. 4,000/- (all inclusive)

Partnership Firm Registration

If two or more person want to share risk and profit of business, general Partnership Firm is the simple way to get start a business. Partners manage the firm and has unlimited liability towards the partnership's obligations and debts.

Partnership Firm can be commence its business by executing Partnership Deed which can be registered and unregistered. It is always advisable to registered Partnership deed.

Benefits of Registered Firm:

  1. Partner can file case in a court on other partners for any dispute between them, to enforce their rights.
  2. Firm can also file case in court, to enforce any right against 3rd Parties.

Drawback of un-registered Firm:

  1. Partner cannot sue other partners for any dispute between them and to enforce their rights
  2. Firm cannot file case in court, to enforce any right against 3rd Parties.

Clauses to be mentioned while drafting a Partnership Deed.

  1. Profit and loss sharing ratio
  2. Details of Capital Contribution
  3. Appointment and Resignation of Partners
  4. Dispute resolution
  5. Dissolution of Firm

It's a good idea to consult a professional experienced with small businesses for help in drafting the Deed.

Documents Required

Application form for Registration.
Self attested copy of Pan Card/Voters Identity Card/Aadhar Card Card/Passport/Driving license.
Self attested copy of Voters Identity Card/Aadhar Card Card/Passport/Driving licenseBank Statement/Electricity Bill/Mobile Bill/Telephone Bill.
(a) Electricity Bill/Mobile Bill/Telephone Bill/Gas Bill. (b) In case office is on lease then lease deed/Rent Agreement along with the rent receipts and No objection certificate from owner.
(a) Value of stamp duty on partnership deed differs from state to state

Advantages of Registration of Partnership Firm

Easy Formation

A Partnership Firm can be started just by executing a partnership deed between the partners, even the Registration of the Partnership Deed is not compulsory.

Easy Dissolution

A Partnership Firm can be easy dissolved just with the consent of the partners.

Secrecy of Accounts

The Financials of a Partnership Firm are not disclosed to the public.

No Financial Audit

The Partnership Firm is not mandatorily required to get its accounts audited by any chartered accountant unlike a limited company. It is Liable for Income Tax audit, only if the turnover of the firm increases more than 2 Crore in any financial year.

Common Questions

No, every Partnership Firm shall have at least two partners.
No, it is not mandatory to Register a Partnership Firm. Any two or more partners can start the business just by executing a partnership deed.
Partners of unregistered firm cannot enforce their rights under the partnership contract against the firm or any present or past partners. But an unregistered firm still remains liable to be sued by persons outside it.
No, name of Partnership Firm doesn’t get protected even after getting it registered with Registrar of firms.
No, it is not necessary to get books of accounts audited. However Income Tax Audit is required, if the turnover of the Partnership Firm exceeds the limit prescribed in Income tax Act.
Yes, it is mandatory to file Income tax return every year. In case of no business, a 'NIL' return is required to be filed.
No, the liability of the partners towards outsiders in a Partnership Firm shall be unlimited.
Yes, a Partnership Firm can be converted into a Limited Liability Partnership with the same name, provided that the name is available with the registrar at the time of making application for reservation of name of a Limited Liability Partnership.

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