Partnership Firm Registration

Partnership Firm Registration in India

A Partnership Firm is a popular business structure in India, ideal for two or more individuals looking to start and manage a business together. It offers flexibility in operations and ease of formation, making it a preferred choice for small and medium-sized enterprises.

Overview

A partnership firm is a business structure where two or more individuals agree to share profits and losses. It’s a popular choice for small and medium-sized businesses due to its simplicity and flexibility.

Our Services

Name Approval Search
CIN – Corporate Identity No.
Certificate of Incorporation
e-Pan & e-Tan Card
AOA & MOA
DIN – Director Identification Number
Class-3 DSC – Digital Signature Certificate for 2 years of validity
Fees (State Stamp Duty For 1 Lac Capital)
ESI & PF Registration
Current Account Opening Assistance
GST Registration
MSME Registration
Monthly GST Return’s Filing Assistance
Dedicated Manager
Tax Planning & Preparation

How to Register a Partnership Company in India

1. Choose a Unique Name: Select a name that reflects your business and ensure it’s not already in use.
2. Draft a Partnership Deed: Create a document outlining the partnership’s terms, including the names of partners, profit-sharing ratio, and roles.
3. Obtain PAN and TAN: Apply for a Permanent Account Number (PAN) and a Tax Deduction and Collection Account Number (TAN) online.
4. Register the Partnership Firm:
- Prepare required documents (identity proof, address proof, partnership deed).
- Fill out the registration form from the Registrar of Firms.
- Submit the application and pay the registration fee.
1. Obtain GST Registration (if applicable): Register for GST if your turnover exceeds the threshold limit.
2. Open a Bank Account: Set up a current account in the firm’s name using the partnership deed and PAN.

Eligibility Criteria for Partnership Firm Registration in India

To register a partnership firm in India, certain eligibility criteria must be met:

Minimum Number of Partners: A partnership firm must have at least two partners. There is no maximum limit on the number of partners, but a firm cannot have more than 20 partners in the case of banking and 10 partners for other businesses unless it is registered as a company.
Age of Partners: All partners must be of legal age, which is 18 years or older.
Competence: Partners must be competent to enter into a contract. This means they should not be of unsound mind and should not be disqualified under any law from entering into a contract.
Mutual Agreement: There must be an agreement among the partners regarding the business operations, profit-sharing, roles, and responsibilities.
Registered Office: A valid registered office address within India is required for the partnership firm.
Legal Business Activities: The firm must be established for a legal purpose. Activities deemed illegal or against public policy cannot be registered.

Benefits of Partnership Firm

Ease of Formation: Establishing a partnership firm is relatively simple and requires minimal legal formalities compared to other business structures like private limited companies.
Shared Responsibility: Partners share the responsibilities of managing the business, which can lead to more efficient decision-making and operations.
Flexibility: Partnerships offer flexibility in terms of management and operations. Partners can define their roles, profit-sharing ratios, and other terms through a partnership deed.
Access to Capital: A partnership can attract more capital as multiple partners contribute funds to the business, enhancing financial stability and growth potential.
Tax Benefits: Partnerships are not taxed as separate entities; instead, profits are passed through to the partners, who report them on their individual tax returns. This can result in lower overall tax liabilities.
Increased Credibility: A registered partnership firm can enhance credibility and trust with clients, suppliers, and investors, helping to establish a solid reputation in the market.
Continuity: Although a partnership may dissolve if one partner leaves, it can also be structured to ensure continuity by allowing remaining partners to carry on the business.
No Minimum Capital Requirement: There is no mandatory minimum capital requirement for starting a partnership firm, making it accessible for entrepreneurs with limited funds.
Easy Profit Distribution: Profits can be distributed among partners as per the mutually agreed-upon ratio in the partnership deed, providing clarity and transparency.

Registration Process of Partnership Firm

Choose a Unique Name: Select a name that is not already registered and complies with the Companies Act.
Draft a Partnership Deed: Create a legal document outlining the terms of the partnership, including the names of partners, profit-sharing ratio, and responsibilities.
Obtain PAN and TAN: Apply for a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for tax purposes.
Register with the Registrar of Firms: Submit the partnership deed and required documents to the local Registrar of Firms.
Obtain GST Registration (if applicable): Register for Goods and Services Tax if your firm’s annual turnover exceeds the threshold limit.

Expert Guidance: Our team of professionals will guide you through the entire registration process.
Timely Completion: We ensure efficient and timely registration of your partnership firm.
Compliance Assistance: We help you adhere to all legal and regulatory requirements.
Post-Registration Support: We provide ongoing support for tax filings, compliance, and other matters.
Affordable Pricing: Our services are competitively priced without compromising on quality.

Documents Required for Partnership Registration in India

For All Partners
* Passport size photo
* PAN & AADHAR
* Email ID and Mobile number of All directors.
 For the Registered Office:
Proof of Address: Latest utility bill of the office location (not older than two months).
No Objection Certificate (NOC): If the office premises are rented, a NOC from the property owner is required.
Rental Agreement/Lease Deed: In case of a rented office, the registered lease deed or rent agreement must be submitted.

How we can help you?

At BookmyLLC, we are dedicated to providing comprehensive support for your partnership firm registration and ongoing business needs. Here’s how we can assist you:

Expert Guidance: Our experienced team offers personalized advice throughout the registration process, ensuring you understand every step and comply with legal requirements.
Simplified Registration Process: We handle all the paperwork, from drafting the partnership deed to filing the registration application, saving you time and effort.
Customized Solutions: We tailor our services to meet your specific business needs, ensuring that your partnership structure aligns with your goals.
Ongoing Support: After registration, we provide continuous assistance, including compliance with regulatory requirements, tax planning, and accounting services.
Access to Resources: Benefit from our extensive network and resources, which can help you secure funding, navigate regulations, and grow your business.
Live Process Updates: Stay informed with real-time updates on your registration status and any other services we are handling for you.
Post-Incorporation Services: We offer a range of post-registration services, including GST registration, obtaining necessary licenses, and managing annual compliance filings.
Cost-Effective Solutions: Our transparent pricing ensures no hidden costs, providing you with budget-friendly options tailored to your financial situation.
Dedicated Support Team: Receive personalized assistance from a dedicated manager who will guide you through the entire process and address any queries you may have.
Expertise in Indian Regulations: Our team has in-depth knowledge of Indian business laws and practices, ensuring your partnership firm operates within the legal framework.

₹ 2999

Name Search Availability
Drafting Parnership Deed
Partnership Pan Card
Bank Account Assistance*

₹ 4999

Name Search Availability
Drafting Parnership Deed
Partnership Pan Card
GST Registration*
MSME Registration*
Bank Account Assistance*

₹ 9999

Name Search Availability
Drafting Parnership Deed
Partnership Pan Card
GST Registration*
MSME Registration*
Bank Account Assistance*
Website Designing***
Dynamic Website Up to 7 Pages
Social Media Integration

Popular