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From 1,499
  • Partnership Deed Drafting
  • GST Registration
  • Registration under MSME Act.

Suitable for Small and Family Businesses

Pricing

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Documents Required from Partners

Benefits

Here are some benefits of Registered Partnership Firm.

A partnership is a relationship between individuals who have agreed to share the profits of a business carried on by all or any one of them acting for all as stated in Section 4 of the Indian Partnership Act. 

If a firm is not registered, then it cannot enforce its claims against a third party in the court of law. Neither it can file a case against any of its partners.

Partners of a registered partnership firm can file suits against each other or even against the outsiders. Partners of an unregistered firm cannot sue the firm to enforce their claims. They cannot even file a suit against each other.

Suppose a new partner is being introduced. Before joining the firm, he can get all the required information from the registrar’s office and he will be more confident about joining the firm.
Even the third parties who are interested in dealing with the partnership firm can get information about the firm from registrar’s office.

What this means is that, in case of a registered partnership, when any partner is retiring he does not have to give public notice of his retirement. The retiring partner can retire peacefully after informing the registrar about his retirement.

Document Preparation

Our legal expert will call you and will assist you with the documents and name selection for your new firm.

Preparation of partnership deed

A partnership deed is prepared with the consent of all partners on the stamp paper as per the laws of the particular state.

Application Filing

Our experts will prepare all the applications and file it with the authority and you’ll be ready to kickstart your partnership firm.

Follow Up

We’ll follow up with the government departments. This makes sure that your application is processed and is on top of their priority.

Requirements to register a Partnership Firm

No of Partners
2 individuals (min.)
Mox. No of Partners
20 Individuals
Contribution
No Limit
Stamp Duty
Acc. To State

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FAQs

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In a Partnership firm, a minimum of 2 members are required and a maximum of 20 partners are allowed.

An individual who is an Indian citizen and a resident of India can partner in a Partnership firm. Nonresident Indians and Individuals belonging to Indian Origin can invest in a Partnership only with the approval of the Government.

For the partners, it is necessary to submit a PAN card along with the identity and address proof. It is recommended to draft a Partnership Deed which is to be signed by all the Partners.

A Partnership firm can be started with any amount of capital. There is no minimum requirement as such.

It is very advisable to register a Partnership firm as a Registered Partnership Firm can file a suit in any court against any of the Partners or firm for the enforcement of any right arising from the contract referred by the Partnership Act. Also, only a Registered Partnership Firm can claim set-off or other proceedings in a dispute with a party.

The Partnership firm and the partners are the same in the eyes of the law. In Partnership firms, the liability of the Partners is also unlimited and all the Partners are said to be jointly and severally liable for the liabilities of the firm. Hence, No Partnership firm doesn’t have separate legal existence of its own.

A Partnership Firm must file the returns of Income irrespective of the number of profits or losses made by the Partners.

There are restrictions on the Transfer of ownership interest in a Partnership Firm. A Partner cannot transfer his or her interest in the firm to any person without the consent of all other partners.

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