Partnership Firm Registration in India
Partnership Firm Registration in India
Two Type of Partnership Firm: Unregistered or Registered.
- Unregistered Firm Form in just 5 days & Registered Firm in 15 days
- Registered Firm Eligible to appy for Startup India Recognition
- NO additional Compliances like an LLP or Company | Suitable for small business
- Partnership is convertible into LLP or Company.
Something about Partnership Firm
Why Partnership Firm is the better choice for you?
Best option if your business or Profession is small as well individually managed | Registered Firm is Eligible to Apply for StartupIndia Recognition
Partnership Firm is the most popular business type wherein two or more person join together to start a business at agreed profit sharing ratio by simply preparing a Partnership deed on non judicial stamp paper. Partnership Firm in India is governed by Indian Partnership Act 1932 and Partnership Deed is the important document here. Partnership is easy to form, and the compliance is minimal as compared to companies and LLP. There 2 types of Partnership Firm – A) Registered Firm and D) Un-registered Firm. The Act does not require the Partnership Firm to be registered with Registrar of Firm or Any other Competent Authority authorised to Register Firm. Therefore Most of the Firm does not take Registration due to lack of knowledge. They simply Prepare a Partnership Deed and PAN card to start business. There are no penalties for non-registration and even a Firm can be registered any time after formation . There are some disadvantage of Un-registered Firm. So it is advisable to Register your Firm. Only A Registered Partnership Firm Eligible to apply for StartupIndia Recognition and get all benefits under the StartupIndia Scheme once approved.
Send your Requirement here
Benefits/ Features of Registered Partnership Firm
Eligible to Apply for StartupIndia Recognition and Avail all benefits attached to scheme
Minimum 2 Partners required to form a partnership Firm
A partner of a Registered firm can file a suit in any court against the firm or other partners for the enforcement of any right arising from a contract or right conferred by the Partnership Act.
Partnership deed is an agreement between the partners in which rights, duties, profits shares and other obligations of each partner is mentioned
Requirement for Registered/Unregistered Partnership Firm formation
All Proposed Partners Name, Email ID and Mobile No. with ID/Address Proof
PAN Card Copy of all partners
Address of Firm Office and any Telephone/Mobile/Electricity Bill as proof of address
Each Partner's Capital Contribution amount
Partnership Firm Registration Process in India
Documentation & Finalise Firm name
First we collect documents and details as mentioned above and One Firm Name and Capital Contributions. DAY 1
Drafting Partnership Agreement (Deed)
Then next task is Drafting of Partnership Agreement defining Partner’s Capital contributions, Business Objects, rights, duties, profits shares and other obligations of each partner. Agreement copy shall take printout on Non judicial stamp paper as per prescribed applicable rate of the state govt based on Capital Contribution Amount. DAY 2-3
Apply PAN
After signing of agreement, next we apply for PAN card of the Firm. Takes 4-10 days here to receive PAN Card Copy
Apply Registration (Optional)
After receipt of PAN Card, Next we go ahead for Registration of your Partnership Firm with the Authority and whole process takes 5-15 working days. Registration of Partnership is Optional here and spend extra for this.
