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Partnership Registration

Ideal for Small-Medium Sized Businesses.

What is Partnership Registration?

For Partnership Registration, you must agree on a firm name and then establish a partnership deed. It is a document stating the respective rights and obligations of the partners and to be valid it should be written and not oral. The terms of the Partnership Deed can be varied to suit the interests of the partners and can even be made contrary to the Indian Partnership Act, 1932 but if the Partnership Deed is silent on any point, then the provisions of the Act would apply.

Why Partnership Registration?

  • Relatively Inexpensive
  • Minimal Compliances
  • Easy to establish
  • Audit not required

    • Documents Required

  • The statement in Form 1 with the prescribed fees

    • Notarised True copy of the Partnership Deed stating the following :

  • The firm-name
  • The nature of business of the firm
  • The place or principal place of business of the firm
  • The names of any other places where the firm carries on business
  • The date when each partner joined the firm
  • The names in full and permanent addresses of the partners
  • The duration of the firm
  • Copy of PAN Card of partners
  • Proof of ownership or rent/lease of the location of your business. (e.g. Electricity Bill/ Water Bill or Rent/Lease/Leave and Licence Agreement of Business Place)
  • Copy of Aadhaar Card/ Voter identity card

    • Minimum Requirements

  • Minimum 2 Partners
  • No fixed minimum Capital Requirement

    • Steps Involved in Partnership Registration

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    Step 1

    All the above mentioned documents must besubmitted to the Registrar of firms of the state.

    Step 2

    A certificate of Registration is then issued, by the Registrar, and a copy should be given to all the partners.

    Step 3

    Also, a separate registration with the Income Tax department is to be done in order to avoid any future problems and must obtain a PAN card and a bank account under the name of Partnership firm.

    Need For Partnership Registration

    Partner Cannot sue firm: A partner in an unregistered partnership firm cannot sue the firm for enforcing any rights under the Indian Partnership Act, 1932.

    The firm cannot sue third parties whereas the third parties would be able to sue the firm irrespective of registration.

    Cannot claim Setoff in a dispute with a third party.

    Start Partnership Registration

    Fill up the form below and our executive will get in touch with you very shortly.

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