Overview

A Partnership is one of the most important forms of a business organization. A partnership firm is where two or more persons come together to form a business and divide the profits in an agreed ratio. The partnership business includes any kind of trade, occupation and profession. A partnership firm is easy to form with fewer compliances as compared to companies.

The Indian Partnership Act, 1932 governs and regulates partnership firms in India. The persons who come together to form the partnership firm are knowns as partners. The partnership firm is constituted under a contract between the partners. The contract between the partners is known as a partnership deed which regulates the relationship among the partners and also between the partners and the partnership firm.

Get Started to form Partnership Firm

Benefits of Partnership Firm

• Minimum Compliance

For general partnerships, there is no need for an auditor to be appointed or, if the company is still in the process of registration or is still unregistered, annual accounts filing with the registrar is not necessary either.

• Simple to Begin

A general partnership can be formed within 2-4 business days, with an unregistered deed of partnership. However, registering for the event offers its own set of benefits.

• Economical

A general partnership is substantially less expensive to start than an LLP. It will still be cost effective in the long term because the compliance needs are minor.

Checklist for Partnership Firm Registration

• Drafting of partnership deed
• Minimum two members as partners
• Maximum number of partners equal to or less than 20
• Selection of appropriate names
• Principal place of business
• PAN card and bank account of the firm
• Initial investment to start the firm

Documents Required For Partnership Firm Registration

Listed below are the documents required for the partnership firm registration process.

• Application for registration of partnership (Form 1)
• Certified original copy of partnership deed
• Specimen of an affidavit certifying all the details mentioned in the partnership deed and documents are correct
• PAN card and address proof of the partners
• Proof of principal place of business of the firm

Name of the Partnership Firm

• The name shouldn't be too similar or identical to another company in the same industry.
• It also shouldn't contain words like emperor, crown, empress, empire, or any other phrases that imply official authorisation or permission.

How to Register Partnership Firms in India

Starting a partnership firm in India is easy with Filemydoc.com. Below are the steps to start a partnership firm.

• Step 1: First, a member of our Filemydoc.com team will give you an overview of the process and present you with a list of essential documents for registration.
• Step 2: Documents can be submitted electronically via our website, email or whatsapp.
• Step 3: After the documents have been verified, a partnership deed is prepared and given to the partners for signatures.
• Step 4: All partners must sign the contracts on stamp paper and upload a copy to our systems.
• Step 5: Once the signed partnership deed is available, it is registered with the appropriate registrar of firms, and the partner is given a certificate of registration.

Why Filemydoc.com for Partnership Firm Registration

Start to End Support : Filemydoc.com can help you start a partnership firm from start to finish. We are capable of advising and serving you, even as your company grows and expands.

Access To Experts : We provide access to reliable professionals and coordinate with them to fulfill all your legal requirements. You can also track the progress on our online platform, at all times.

Realistic Expectations : By handling all the paperwork, we ensure a seamless interactive process with the government. We provide clarity on the incorporation process to set realistic expectations.

FAQs on Partnership Firm Registration

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