Partnership Registration 2017-06-29T08:09:10+00:00

Partnership Registration


Ideal for Small-Medium Sized Businesses

Ideal for Small-Medium Sized Businesses

Starting At

Rs. 2,199 + registration fees

SAVE 40% COST!!!

(Takes 2-8 days)

Your details:
875-000-8585
  • This field is for validation purposes and should be left unchanged.

KNOW ALL ABOUT PARTNERSHIP REGISTRATION

PARTNERSHIP REGISTRATION?


A Partnership is a business structure in which two or more individuals manage and operate a business in accordance with the terms and goals set out in the PartnershipDeed. Partnership registration is relatively easy and is prevalent among small and medium sized businesses in the unorganized sectors. Partnership Registration is done through Legalraasta.

For Partnership Registration, you must agree on a firm name and then establish a partnership deed. It is a document stating 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.

Choose Partnership because

  • Partnership registration is very easy.
  • Partnership registration is inexpensive as compared to LLP.
  • It has minimum compliance requirement.

WHAT IS INCLUDED IN OUR PACKAGE?


Drafting of Partnership Deed

Name search & approval

TAN

Partnership Pan Card

PROCEDURE FOR PARTNERSHIP REGISTRATION?


DOCUMENTS REQUIRED FOR PARTNERSHIP REGISTRATION?


The following documents are required for the registration of a Partnership firm:

(a) Statement in Form 1 with the prescribed fees

(b) 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

(c) 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)

(d) Copy of PAN Card of partners

(e) Copy of Aadhaar Card/ Voter identity card

The Statement must be signed by all the partners of the firm and must also be verified by affidavit in the prescribed manner.

STEPS FOR PARTNERSHIP REGISTRATION?


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 accountunder the name of Partnership firm.

WHY PARTNERSHIP REGISTRATION?


Relatively Inexpensive

Minimal Compliances

Easy to establish

Audit not required

MINIMUM REQUIREMENTS FOR PARTNERSHIP REGISTRATION


Minimum 2 Partners

No fixed minimum Capital Requirement

WHAT IS PARTNERSHIP ?


Partnership in the Corporate world refers to a relationship when two or more people decide to share the profits of a business carried on by them all or any of them acting for all.It’s generally done in legal terms. The percentage of ownership varies and depends on certain factors.  Partnership firm thus is a firm which allows joint ownership of a business. There are certain rules and regulations that have to be followed while setting up a Partnership firm. Registering a partnership firm is not compulsory under the Indian Partnership Act, 1932 but only Maharashtra has made their registration compulsory. Further a partnership firm can be registered at any point of time i.e. even several years after formation. Registering or not registering a partnership firm has itsown advantages, but like a coin which has two faces, it definitely has its own disadvantages too. Described below in detail is how a partnership firm works and how can you register for partnership firm in India.

The partnership is relatively easy to start however, there are certain conditions and restrictions to be followed in setting them up. Also, according to Indian Partnership Act,1932, consent of all the partners in a partnership firm is required in fundamental matters (like admission of new partners, dissolution of the firm, conversion of the firm etc.) and a majority in other matters and there should be sharing of all the profits or losses made in the business. It also states that there has to be a legal contract that There are certainly more rules while setting up a Partnership firm, clearly stated in the Indian Partnership act,1932 and they should be followed strictly to avoid any severe actions made by authorities towards your firm.

NEED FOR PARTNERSHIP REGISTRATION?


If you don’t register your Partnership:

  • 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.
  • Cannot claim Setoff in a dispute with a third party.
  • The firm cannot sue third parties whereas the third parties would be able to sue the firm irrespective of registration.
  • FREQUENTLY ASKED QUESTIONS


    1. What are the requirements to be a Partner in a Partnership Firm?
    – The Partner must be an Indian citizen and a Resident of India.
    2. How much money do I need to invest upfront to start the business?
    – There is no limit on the minimum capital for Partnership Registration. Therefore, a Partnership can be started with any amount of minimum capital.
    3. Can I convert my Partnership into an LLP or Private Limited Company?
    -Yes, you can, but this is a very time consuming and expensive procedure. It may be better to close the partnership altogether and then start afresh as an LLP or Private Limited Company.
    4. What is the life span of the partnership?
    – The life span of the company is not dependent on or related to the life of any particular person(s) or individual(s). It could go on indefinitely until it accomplishes its objective, merges with another such company, or goes bankrupt.
    5. In which cities does LegalRaasta provide partnership registration?
    – LegalRaasta provides partnership deed services across India in all cities. We have done partnership registration in Mumbai, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Ahmedabad, Kolkata, Surat, Pune, Jaipur, Lucknow, Kanpur, Nagpur and other Indian cities.
    6. Why should I choose LegalRaasta for partnership registration?
    – Legalraasta.com is one of the best online service portals to help register partnerships in India. We have 10 years of experience in application of partnership registration. LegalRaasta has 30+ regional offices in India and expand its network in India with 2000+ customers for partnership.

    WHY CHOOSE LEGALRAASTA?


    30+ Offices in India

    10+ Years Experience

    Economical and Fast

    Money Back Guarantee

    FEATURED IN


    OUR CLIENTS