Partnership Firm Registration

Basic Package

2500 2500+Govt Expenses
  • Business Idea Validation
  • Drafting of Partnership Deed by legal professionals
  • Notarisation and Stamp Duty
  • PAN Application

Gold Package

4300 4300+Govt Expenses
  • All services in the basic package
  • Micro, Small and Medium Enterprise (MSME) Registration
  • Inclusive of 10% discount on Basic Package

Platinum Package

10250 10250+Govt Expenses
  • All services included in gold package plus
  • Trademark registration
  • Inclusive of 10% discount on Gold Package

What is a Partnership Firm

  1. A partnership comes into picture when two or more people agree to go into business together and both might be from same family or same association, whether or not they have a written contract.
  2. Ideally, it is mandatory to validate the details in a partnership agreement that specifies each partner's rights, responsibilities, and share of the profits.
  3. Partnership firms are registered with the Registrar of Firms

Steps to Apply for partnership Firm

  1. Fill up basic requirement form
  2. We'll collect all your documents and file them directly with the authority
  3. You'll receive your completed Partnership Company package by mail

Tax Advice: Prepare & file business taxes can be complicated. Our expert CA/CS will help you to prepare and file tax forms for your Partnership correctly with a minimal fee and on time. Learn more about Taxes & Compliances.

 

Benefits & Liabilities of Partnership Firm

Benefits:

  • Low tax liabilities
  • Easy to control as managed by few promoters
  • Freedom to choose any business name but make sure that the name is not a trademark of any other company or individual.
  • Easy to start with a minimal registration process.
  • Easy to shut down the company with very less compliances.
  • Partnerships are easy to incorporate and flexible to manage. Unlike corporations and LLPs, you won't have to file formation documents or annual reports with the state.

Liabilities:

  • Partners are personally liable for the business, including all debts and liabilities of the other partners.
  • Once partners are engaged in a business, each partner is personally liable for the actions of that business, including the obligations of the other partners. There are no shields against personal liability.
  • The share in a Partnership can be transferred to another partner after obtaining the permission of all the Partners in a Partnership

Documents required for Partnership registration

Documents required for Partnership registration

  • Voter's ID/Passport/Driver's License PAN Card
  • Voter's ID/Passport/Driver's License
  • Passport-sized photographs
  • Proof of registered office

Is a partnership right for you to start?

  • When you want to start your business involving one of your family members, then partnership might be the right option for you to choose.
  • One or more Partners can be designated to manage the Partnership Firm.

Taxes for Partnership Firm 

A general partnership doesn't pay any income taxes. Instead, profits and losses flow through to each of the partners, who are responsible to report it on their personal income tax returns.

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faq FAQ`s

questionLegal requirements to start a Partnership

answer
  • Indian citizen
  • Must have a minimum of 2 Partners and can be extended up to a maximum of 20 Partners

questionDocuments required to open a current account in the name of business

answer
  • Proof of business 
  • PAN card
  • Address proof
  • Identity proof

questionTime required to establish a General Partnership business

answer

As per industry standards it’s up to 15 business days but being expert in the industry, we complete the process within 7-10 business days, unless something serious strikes in between the process.

Legal Guide

Download free legal guide on how to successfully start and manage business in India & achieve 100% compliance.

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