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Partnership Firm
Registration


@ Rs. 1,999*

*Professional Fees

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What is Partnership Firm Registration


A Partnership firm registration is one of the most popular forms of business organization, where two or more people come together to form a business as per the terms and objectives mentioned in the partnership deed. and divide the profits thereof in an agreed ratio. All the partners of the partnership firm are required to sign the partnership deed in order to start its business. Partners running the business are solely responsible for the profits and losses of the firm. Therefore the partners have unlimited liability. It is not mandatory to register the partnership firm but there are additional advantages if it gets registered.

Indian Partnership Act 1932 is the governing law that regulates the partnership firms in India. The maximum number of partners in the partnership firm can be 10 for banking business and 20 for other forms of business. A partnership firm is a separate legal entity from its partners. It can not be a debtor or creditor and also can not own any property. A partnership firm would be dissolved if the number of partners reduces below 2 in case of death, incapacitation, or resignation of a partner.

Benefits of Partnership Firm Registration


Conversion of Entity

A registered Partnership firm has some advantages over the unregistered partnership firm. It can easily convert into other business structures such as Private Limited Company or LLP

Less Compliance burden

There is a minimum compliance requirement in the case of Partnership firms and therefore many individualism considers it as better options. There is no requirement of appointing an Auditor, Filing annual accounts with the registrar. These are few as compare to LLP registration, in addition to this there is no need to file taxes depending on turnover, services, and sales tax in the Partnership firm.

Ability to claim set-off

The registration of Partnership Firm enables the partners with the power to claim set-off. When any third party files a suit against the Partnership Firm, the Partnership firm can claim the set-off, if any against the claim of the third party. This power is not available to an unregistered firm.

Economical

The Partnership Firm is very economical to start as compared to LLP registration. it is economical due to its minimum compliance requirements. It is inexpensive in the long run also. This form is business is mainly opted by home businesses.

Eligibility For Partnership Firm Registration


Any two or more person can become partner

Process for Partnership Firm Registration


Step 1: Drafting of Partnership Deed

The very first step is to draft a Partnership Deed as per the provision prescribed under the Partnership Act 1932. Any clauses required for the business of the proposed Partnership firm can be incorporated in the Partnership deed.

Step 2: Execution of the Partnership deed

Once the draft of the Partnership deed is prepared in consultation with the professionals is done, then it shall be duly executed by payment of stamp duty as applicable for the concerned state and notarization of the same. The Partnership Deed shall be duly signed by all the partners of the firm at the place specified along with the initial on all rest pages. Also, the witnesses of the partners shall also provide the signature along with the residential address.

Step 3: Payment of Stamp Duty and Notarisation

The execution of the Partnership Deed shall be done after the payment of stamp duty as prescribed under the State Stamp Act where the business places of the Partnership firm is situated.aftyer payment of stamp duty, the deed shall be notarized after providing a signature of Partners and Witnesses.

Step 4: Application of PAN

The application for the allotment of PAN can be made before or after the registration of the Partnership Firm. the application of the PAN allotment shall be supported by a copy of the Partnership deed.

Step 5: Registration of Partnership deed

The concerned authority to register the Partnership firm of the Registrar of Firms within whose jurisdiction the place of business falls. The application for registration of Partnership Firm shall contain the name of the firm, name of the partners and their addresses, place of business, etc. which is followed by opening a Bank Account.

Documents Required for Partnership Firm Registration


For each Partner:


  1. PAN Card *

  2. Aadhar Card *

  3. Voter ID/ Passport/ Driving License *

  4. Telephone /Electricity Bill/ Bank A/c Statement (Not older than 2 Months) *

For Address Proof of new Partnership Firm:


  1. Telephone /Electricity Bill/(Not older than 2 Months) *

  2. Tittle/Sale - Owned Property

  3. Rent Agreement - Rented Property

  4. NOC - Rented Property

Additional Requirements For Foreign Nationals :


  1. Passport *

  2. Documents should be notarized or consuralized or apostilled

* Self-attested in PDF format

Why Patron Accounting


Data Privacy

Data Privacy


Data is new fuel which make it most important asset for the business house. Strict policy within our organisation is to ensure no compromise on data confidentiality and data is not shared with the third party. Your information is safe with us.

Qualified Team

Highly Qualified Team


Our team consists of CA's, Lawyers, CS, IIM, graduate, Actuaries and other supporting staff to make sure you get best services. With 10+ years of experience, our experts uses flexible and customized solutions to provide hassle-free services to any industries.

Kaizen

Kaizen Philosophy


Patron Accounting has ISO 9001:2015 certifcation in place. We continuously improve our existing process and try to find new ways for doing the same tasks. We are committed to reduce the time taken to process any task and give unquie experience to our customers.

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Reviews by Customers


Great Experience overall, very professional team with all the knowledge in Taxation and accounting compliance. Answered all my question in language I can understand and gave a sense of relief from this complicated tax system of our country. Highly recommended!! read more
Rajesh Tomar
2 days ago
One stop online solution for all accounting needs. Very prompt in their services. I am Fully satisfied, Highly recommended...Thanks you So much all Team Members !!! read more
Rohit More
1 week ago
Very convenient, offers great efficiency. Worth spending money & saves a lot of time too. Highly RECOMMENDED. read more
Karan Jindal
2 months ago
Takes care of all accounting procedures & compliances. Innovative solutions with professional services by the company. read more
Neha Garg
2 months ago
I am very happy with their services. They provide complete solution to our tax queries and also guided us in our tax planning. read more
Aditya Gupta
2 months ago
Very professional, Honest and thoroug People here have immense knowledge and the best thing about them is their round the clock Good work. Keep it up ! read more
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2 months ago
Best company in Pune that provides accounting service ..very satisfying service read more
Zehra Naqvi
6 months ago
Patron accounting is having a dedicated, professional team. Fully satisfied with their services. They have expertise in providing bundle of services which gives complete business solution as per client requirements read more
Sid
3 months ago
One stop solution for all accounting needs. Truely professional guys. Gave simple practical solutions to my otherwise complex business problems read more
Sudarshan Holani
1 Months ago
Great experience with Patron LLP read more
VIVEK Chaudhary
a week ago
Highly professional and very prompt in their services read more
Kings N Queens
2 years ago
A very professional service provider. I found the team very knowledgeable.. read more
Pradeep
1 year ago

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FAQ


Any individual who is eligible to enter into a contract can become a partner in the partnership firm. The minimum age required to enter into a contract is 18 years therefore he must have completed this age limit. Contact us Now.

No, it is not compulsory to register a Partnership firm but it is recommended to register an unregistered firm that will not be able to recover its cost in case of any dispute.

Yes, it can be sued in the name of the firm as it is a separate legal entity.

No, there is no such compulsion for the partnership deed to be in written form.