Partnership Firm

Group of persons who want to work together for same objective and want to earn on share basis then a Partnership Firm is the best choice. A Partnership Firm is a very well popular form of business constitution for businesses that are owned, managed and controlled by an Association of People for profit. Partnership firms are relatively easy to start as compared to another type of entity like company, society etc and it is prevalent amongst small and medium sized businesses in the unorganized sectors.

According to preferences there are two types of Partnership firms, registered and un-registered Partnership firm. Registration is not a compulsory requirement for creation a Partnership firm; however, due to the added advantages like legal existence of firm, future security etc, it is advisable to register a Partnership firm .

In legal terms Partnership firms are governed by Partnership Act 1939 which provides rules & regulation to form a Partnership Firm and which strictly compliance is necessary requirement in case of Registered Partnership Firm. Process to create a Partnership firms as per stated Act includes drafting a Partnership deed amongst the Partners and Startupkaro advisers can help to start a registered as well as un-registered Partnership firm in Chhattisgarh.

Startupkaro – We are the group of professionals having expertise in registration of partnership firm and always keen to help entrepreneurs in decision making and skill analyzing as regards choosing constitution of business.

If you want to know more about Partnership Firm Registration Services or seek any advice from our experts, then just call the below given number

Advantages & BenefitsWhy to register Partnership firm

Easy to Start

  •  Less Legal Formalities
  • Less Time Consuming
  • Cost Effective

Partnership Deed

  • Determination of Ownership
  • Profit sharing ratio
  • Rights and responsibility

Business Name

  • Use any business name unless it is a registered trademark
  • No prohibition on  partnership having the same names

External Compliance NOT Required

  • Not required to file documents to registrars like companies
  • Saving of cost and time

Bank Account

  • Opened in the name of the firm
  • Operated by many authorised partners

Disputes

  • Governed by partnership act 1932
  • Right to Accused partner for justice

Documents and Information Required for Partnership Registration

Identity Proof of Partner

Copy of PAN Card of Partners

Address Proof of Partners

Passport , Driving License , Aadhar , Electricity Bill

Address Proof of Registered Office

Rental Agreement or Sale Deed and Copy of Electricity Bill, Property Tax Receipt, No objection Latter from Landloard for Use of Permises as Registered office

Signed Partnership Deed

Partnership Deed in Non Judicial Stam Paper Sign by all Partners.

Pricing

*
Basic Plan
4999 /-

Basic partnership deed drafting, PAN, Inclusive of all government fee and taxes.

**
Standard Plan
7,999 /-

Partnership deed drafting along with deed registration, PAN. Inclusive of all government fee and taxes.

***
Premium Plan
9999 /-

Partnership deed drafting, Deed registration, PAN and GST Registration. Inclusive of all government fee and taxes.

*****
Free & Supports
– Free Business Startup Guidance 

– Current Account Opening Support 

– Aadhar Udyog Registration

Procedure For Partnership Firm Registration

Complete our Partnership Form

You are required to fill your details in our simple questionnaire and submit documents.

Partnership Deed Registration

Based on your preferences, requirements and the service level you will be advised either to choose Registered firm or Un-registered firm by our Startupkaro’s advisers/professionals, we will help you to register the Partnership Deed with the relevant authorities to make the Partnership a Registered Partnership Firm.

Verification of Documents

For further procedures, details provided by you will be verified by our experts.

Obtaining PAN & TAN

Based on the package you selected, we will help you to obtain PAN and TAN registration for your Partnership Firm from the relevant Authorities once the Partnership Firm registration is completed.

Partnership Deed Drafting

A Startup Karo Financial Expert will first understand your business, Partnership structure & other relevant details and will always be in communication with partners to draft a Partnership Deed until it is fully acceptable to all Partners.

Your Work is Completed

Once your partnership is registered, we will intimate you about the same.

Congratulations

Sample of Documents

Partnership Registration FAQs

How many people are required to start a Partnership firm?

A minimum of two Persons is required to start a Partnership firm. A maximum number of 20 Partners are allowed in a Partnership firm.

What are the requirements to be a Partner in a Partnership firm?

A minimum of two Persons is required to start a Partnership firm. A maximum number of 20 Partners are allowed in a Partnership firm.

What are the documents required to start a Partnership firm?

PAN Card for the Partners along with identity and address proof is required. It is recommended to draft a Partnership deed and have it signed by all the Partners in the firm.

What are the documents required to start a Partnership firm?

PAN Card for the Partners along with identity and address proof is required. It is recommended to draft a Partnership deed and have it signed by all the Partners in the firm.

What are the documents required to start a Partnership firm?

PAN Card for the Partners along with identity and address proof is required. It is recommended to draft a Partnership deed and have it signed by all the Partners in the firm.

How will Startupkaro help me start a Partnership firm?

Startupkaro Associate will understand your business requirements and help you start a Partnership firm by drafting the Partnership deed. Based on the requirements, Startupkaro can also help register the Partnership deed with the relevant Authorities to make the Partnership Firm a Registered Partnership firm.

How to open a bank account for a Partnership firm?

To open a bank account for a Partnership firm, a registered Partnership deed along with identity and address proof of the Partners need to be provided.

Will my Partnership firm have a separate legal identity?

No, a Partnership firm has no separate legal existence of its own i.e., the Partnership firm and the partners are one and the same in the eyes of law. Liability of the Partners is also unlimited, and the partners are said to be jointly and severally liable for the liabilities of the firm. This means that if the assets and property of the firm is insufficient to meet the debts of the firm, the creditors can recover their loans from the personal property of the individual partners.

Will my Partnership firm have a Certificate or Registration?

If the Partnership firm is registered, the Partnership deed will be registered and a Registration Certificate will be issued by the Registrar of Firms.

How to register the name of a Partnership firm?

Partnership firms are business entity that are owned, managed and controlled by one person. So Partners cannot be inducted into a Partnership firm.

How can I transfer my Partnership firm?

There are restrictions on the transfer of ownership interest in a Partnership firm. A Partner cannot transfer his/her interest in the firm to any person (except to the existing partners) without the unanimous consent of all other partners.

Can other people invest in a Partnership firm?

Indian Nationals and Indian Residents are allowed to invest in a Partnership firm without any approval. Usually those who invest in the Partnership firm become a Partner of the firm and in the absence of any agreement to the contrary, all partners will have a right to participate in the activities of the business.

What are the annual compliance requirements for a Partnership?

Partnership firm will have to file their annual tax return with the Income Tax Department. Other tax filings like service tax filing or VAT/CST filing may be necessary from time to time, based on the business activity performed. However, annual report or accounts need not be filed with the Ministry or Corporate Affairs, which is required for Limited Liability Partnerships and Companies.

Is audit required for a Partnership firm?

It is not necessary for Partnerships to prepare audited financial statements each year. However, a tax audit may be necessary based on turnover and other criterion.

Can I later convert my Partnership firm into a Company or LLP?

Yes, there are procedures for converting a Partnership business into a Company or a LLP at a later date. However, the procedures to convert a Partnership firm into a Company or LLP are cumbersome, expensive and time-consuming. Therefore, it is wise for many entrepreneurs to consider and start a LLP or Company instead of a Partnership firm.

Why Choose Startupkaro

Leading Consultancy Firm

Startupkaro is the leading consultancy firm in the field of legal consultancy business. Our professionals are well qualified and capable to handle all type of legal works in the area of Taxation & Company Law.

Read More

Free Expert Counseling

We provide 24×7 expert counsellig who help you in deciding initial 5 factor of your doubts i.e. What ?, How ?, Why ?, When ? & Where?

Read More

More Than 100+ Loyal Clients

Currently we have served more than 100 + loyal Clients because we believe in satisfaction level services.

Read More

All Service at One-Stop

We have wide range of expert level service and our experts are very well capable to perform these, here you will find wide variety of services in the areas like Legal, Taxation, Finance, Management, Budgets etc.

Read More

Looking for Register a Partnership Firm ?

"if you try to be the best you’ll be number one, if you try to be unique you’ll be the only one"
Motivational-speaker-Dr.-Vivek-Bindra
Dr. Vivek Bindra
Business Coach
Need Help? Chat with us
Please accept our privacy policy first to start a conversation.