Partnership Firm Registration
Get your Partnership Firm Registration starting from ₹ 6000/-
- For partners
- For small and medium enterprises
- Simple and Secure Online Process
- Dedicated Professional
- Hassle-Free Process
- Get your work done in 7-10 days
Need Help with Partnership Firm Registration?
Fill Up the below Mentioned Form
Introduction to Partnership Firms in India
A partnership is a business structure where two or more individuals share ownership, responsibilities for managing the company, and the profits or losses generated. Partnership firms are relatively easy to establish and involve fewer legal compliances. These firms can be either registered or unregistered, and they fall under the regulatory purview of the Indian Partnership Act of 1932. The pivotal document governing the workings and dissolution process of a partnership is the Partnership Deed. Crafting this document with expertise is crucial to preempt conflicts among partners in the future.
While the Act doesn’t mandate firm registration, it imposes certain limitations on partners in the absence of registration. Unregistered firms cannot file cases against partners or third parties. Hence, it is advisable to register partnership firms. Each state’s Department handles the registration process, each with its unique platforms and submission guidelines.
At Financial Chartered, we ensure utmost satisfaction and timely delivery of Partnership Registrations, navigating government requirements with the expertise of our professionals. For Partnership registration assistance, please contact our team at 8890077750 or email us at financialchartered.com@gmail.com.
Advantages of Registering a Partnership Firm
Ease of Commencement
Partnership firms can typically be established on the same day with only a partnership deed as the primary requirement.
Expedited Decision-making
Decisions in a partnership firm are swift due to the absence of procedural resolutions.
Fund Procurement
Compared to sole proprietorships, partnership firms can secure funds more readily as multiple partners can contribute feasibly.
Sense of Ownership
Each partner manages and possesses a stake in the firm, fostering a heightened sense of responsibility among partners.
Legal Standing
A registered partnership firm has the authority to file legal cases against third parties, strengthening its legal position.
Lesser Compliance
Partnership firms entail fewer compliance obligations compared to Limited Liability Partnerships (LLPs).
Documents Required for Incorporation
PAN Card of partners for identity proof.
Aadhar Cards of partners for identity proof.
Partners' photographs.
Business Address Proof Owned Property: Electricity bill and Sale deed if one partner owns the business premises.
Rented Property: Electricity bill and Rent/lease agreement.
Rent Agreement, NOC, Latest Govt. Electricity or Water Bill)
Procedure for Registering a Partnership Firm
Step 1
Complete the questionnaire provided by our team.
Step 2
Provide all necessary documents according to your business category.
Step 3
Our team will draft the Partnership Deed and relevant documents, verified and signed by the partners.
Step 4
We will file the partnership registration application on the respective portal.
Step 5
Upon successful registration, we will furnish you with the Registration Certificate.
Further Insights on Partnership Firm Registration
Minimum and Maximum Partners:
The Partnership Act doesn’t stipulate a minimum criterion, but according to Companies (Miscellaneous) Rules, 2014, a partnership must have a minimum of 2 partners and a maximum of 50 members. For banking businesses, the maximum is 20 members.
Capital Requirement:
There’s no legally prescribed minimum capital. Partners can plan expenses and contribute capital, duly recorded in the Partnership Deed.
Taxation:
Partnership firms are subject to income tax at 30% of total income. Surcharge at 12% applies if income exceeds Rs.1 crore, along with education cess and secondary higher education cess.
Disadvantages of Unregistered Partnership Firms
Limited Legal Recourse:
Unregistered firms cannot sue third parties or seek relief in certain legal matters, affecting their ability to resolve disputes.
Third-Party Lawsuits:
Even without registration, third parties can initiate legal action against the firm.
At Financial Chartered, we specialize in aiding Partnership Firm registrations, providing expert guidance and adherence to necessary procedures. For inquiries or assistance, kindly reach out to us at 8890077750 or email financialchartered.com@gmail.com.
