Partnership Firm Registration
Get your partnership firm deed drafted by our experts, along with firm PAN and GST registration.
A partnership firm is a popular business structure commonly chosen by newly established businesses in India. It requires a minimum of two partners to be formed.
- Hassle free partnership firm registration with expert support
- Partnership deed drafting done by senior experts
- Complete guidance and filing support for partnership deed registration
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Table of Content
- Partnership Firm Registration - Overview
- Law Governing the Partnership Firms Registration
- Who Can Be a Partner in India's Partnership Firms?
- Advantages of a Partnership Firm
- Disadvantages of a Partnership Firm
Partnership Firm Registration - Overview
A partnership firm is a popular choice among entrepreneurs due to its simplicity and flexibility. It allows multiple individuals to come together and combine their resources, skills, and expertise to run a business. Registering your partnership firm is the first step towards formalizing your partnership and ensuring its legal recognition.
At bookmycompliance, we understand that navigating the intricacies of partnership firm registration process can be daunting. That’s why we offer a comprehensive and hassle-free partnership firm registration online service designed to meet your needs with affordable partnership firm registration fees. We go through the complete process and register partnership deed effortlessly. Whether you are a new startup or an existing unregistered partnership looking to formalize your business, our expert team of professionals guides you through the process to register partnership firm.
Contact us now to learn more and get started on your partnership firm registration journey.
Partnership Firms
A partnership stands as one of the fundamental structures for conducting business. It materializes when two or more individuals collaborate to establish a business venture, sharing profits according to an agreed-upon ratio. This form of business encompasses a broad spectrum of trades, occupations, and professions. A notable advantage is that partnership firms entail relatively fewer regulatory requirements than companies.
Law Governing the Partnership Firms Registration
In India, the operation of partnership firms is governed by the Indian Partnership Act of 1932. Those who unite to create a partnership firm are referred to as partners, and the formation of the partnership firm is based on a contractual agreement among these individuals. The agreement among partners is commonly referred to as a “partnership deed.”
Partnership Deed
A partnership deed is a legal document that outlines the terms and conditions of a partnership. It includes details such as the rights and duties of partners, the distribution of profits, individual capital contributions, and the partnership’s duration. Partnership deed registration is essential to execute the operations legally.
Partnership Firm Registration
Partnership registration involves the formal registration of a partnership firm by its partners with the Registrar of Firms. This process typically occurs in the state where the firm is located. It’s important to note that partnership firm registration is not mandatory; it’s optional. Partners can choose to apply for partnership deed registration at the time of forming the firm or later during its ongoing operations.
For partnership deed registration to take place, two or more individuals must come together as partners, agree on a firm name, and create a deed to register partnership deed.
Related Business Registrations
In addition to registration or incorporation, a business may require other registrations depending on the business activity undertaken. Talk to an Advisor to find out registrations your business may require post registration.
