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Partnership Firm

Partnership Firm

  • Overview
  • Document Required / Details of the product
  • Process

What is a partnership firm?

A partnership firm is a form of business entity type where two or more partners come together to do business through mutually agreed-upon terms. The agreements of these terms are specified in the partnership deed. Only after the partnership deed is accepted by the partnership registry, the partnership firm registration is complete.

How is a partnership firm registered?

The formation of a partnership firm requires the following 7 simple steps:

  1. Choose a name for your partnership.
  2. Create a partnership deed with the assistance of our experts
  3. Get a printout of the partnership deed on a stamp paper and get it signed by your partners.
  4. Send us a scanned copy of the deed and get the acknowledgment.
  5. Fill the partnership firm registration application form with your personal and business details, and submit it to the Partnership registry along with the partnership deed.
  6. We will apply for PAN and TAN of the partnership on your behalf.
  7. Wait for a bit and get a Partnership Firm PAN card for your firm.

You need not move from your home to get the job done as it is now an online partnership firm registration process.

Features of a partnership firm

Following are the features that you have to look forward to if you are applying for partnership firm registration in India:

  1. There is a minimum of two partners
  2. The partners may or may not share the responsibilities of the business.
  3. Through the partnership, you can bring more capital into the business.
  4. Risk is shared in a partnership form
  5. Annual returns are not necessary to submit
  6. It is an unlimited liability business entity.

The process of partnership firm name registration is not an easy one. Therefore, the experts of Registrationwala help you in any way necessary. Through our partnership registration facilities, you can start your business as a partnership firm in no time.

Frequently Asked Questions

A Partnership is where two (or more) people join hands to carry out a business for profit. The partners become joint business owners and carry out operations governed by the partnership deed. The regulations are least and it makes it a desirable option for businesses having joint owners. However, in a partnership firm the partners are jointly and individually liable for debts of the firm. This form of structure is ideal if there are no/less requirement of external funds and low risk of bad-debts for example consultancy firms.

Partnership firms are governed by the Indian Partnership Act, 1932. Under the act, registration is not mandatory but it is advisable due to following reasons:

    • Partner(s) can’t file a case in any court against the firm/ other partners unless firm is registered.
    • The unregistered firm or its partners can’t file a case against third party on breach of a contract but the third party can file a case
    • In case of a dispute with a third party, the unregistered firm or any of its partners cannot claim a set off

A partnership firm can be registered whether at the time of its formation or even subsequently. The application for registration is to be made to the registrar of firms of the region in which the business is situated. It is advisable to get the firm registered as soon as it starts its business to avail the rights that can be enjoyed only by a registered firm

The name of a partnership firm should not contain any words which indicate the approval/support of the government other than a case where the government has given its written consent for the use of such words as part of the firm’s name. Key pointers:

    • The names must not be too identical or similar to the name of another existing firm doing similar business.
    • The name must not contain words like Crown, Emperor, Empress, Empire or any other word indicating government approval.

The government fees applicable varies from state to state based on partner contribution. In most states the fee falls in range of Rs.1000-1500 along with stamp duty. Our experts will guide you on this. You will be charged only on actual government fees

Required Documents for Partnership Firm Registration

For Unregistered Partnership Firm

A Partnership deed is formed on a suitable non-judicial stamp paper duly signed by each member of the firm. The same is required to be notarized by the notary and from that date Partnership Firm deemed to be registered.

For Registered Partnership Firm

  1. Application for Registration in the prescribed Form – I.
  2. Duly filled Specimen of Affidavit.
  3. Certified copy of the Partnership deed on appropriate non-judicial stamp paper.
  4. Proof of ownership of the place of business or the rental/lease agreement thereof.
  5. Affix court fee stamp & payment of the prescribed fee for registration by demand draft.

Lets see the process

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Partnership Firm Registration

₹6,599.00

Partnership Firm in just 7 to 10 Days

Never let the businessman see down by giving your small business a shining name with Partnership Firm registration. It is extremely easy to start and run!

Why choose Company registration in INDIA ?

  • Shields from personal liability and protects from other risks and losses.

  • A registered company makes it genuine and increases the authenticity of your business.

  • Procures bank credits and good investment from reliable investors with ease.

  • Offers liability protection to protect your company’s assets

  • Greater capital contribution leading to greater stability of business

  • Increases the potential to grow big and expand the business