Partnership Firm Registration

Within 7 Days

All Inclusive Fee of Just Rs 4,999/- only

  • Partnership Deed Drafting
  • Partnership Deed Attestation
  • TAN
  • Partnership Pan Card

Partnership Firm Registration

Registration of Partnership Firm

A partnership is easy to form as no cumbersome legal formalities are involved. A business organization in which two or more individuals manage and operate the business. Both owners are equally and personally liable for the debts from the business. The owners of a partnership business are individually known as the "partners" and collectively as a "firm". A partnership is formed by an agreement :which may be either written or oral. When the written agreement is duly stamped and registered, it is known as "Partnership Deed".

Advantages of Partnership Firm

  • Low cost of Formation and compliances and less statutory compliances as compared to Private limited Companies
  • Better decision making and control over the business.

The Partnership deed, generally contains the following particulars:-

  • Name of the firm.
  • Nature of the business to be carried out.
  • Names of the partners.
  • The town and the place where business will be carried on.
  • The amount of capital to be contributed by each partner.
  • Loans and advances by partners and the interest payable on them.
  • The amount of drawings by each partner and the rate of interest allowed thereon.
  • Duties and powers of each partner.
  • Any other terms and conditions to run the business.
Documents Required For Partnership Firm
BY PARTNERS
  • PAN Card
  • Voter Id / Aadhaar Card
  • Driving License / Passport
  • Latest Bank Statement / Mobile Bill
  • Passport Size Photograph
FOR OFFICE ADDRESS PROOF
  • Rental Agreement (In English)
  • No Objection Certificate
  • Electricity Bill
  • Sale Deed / Property Deed
  • Tax Paid Receipt ( In case of own property )

What is included?

  • Partnership Deed Drafting
  • Partnership Deed Attestation
  • Name search & approval
  • TAN
  • Partnership Pan Card

In India, Partnership firms are of 3 Types:

  • Unregistered Partnership Deed
  • Partnership Registered with Magistate
  • Limited Liability Partnership

Frequently Asked Questions



A minimum of two Persons is required to start a Partnership firm. A maximum number of 20 Partners are allowed in 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.
BusinessWindo Associate will understand your business requirements and help you start a Partnership firm by drafting the Partnership deed. Based on the requirements, BusinessWindo can also help register the Partnership deed with the relevant Authorities to make the Partnership Firm a Registered Partnership firm.
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.
Partnership firms are business entity that are owned, managed and controlled by one person. So Partners cannot be inducted into 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.
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.
The Partner must be an Indian citizen and a Resident of India. Non-Resident Indians and Persons of Indian Origin can only invest in a Proprietorship with prior approval of the Government of India.
There is no limit on the minimum capital for starting a Partnership firm. Therefore, a Partnership firm can be started with any amount of minimum capital.
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.
If the Partnership firm is registered, the Partnership deed will be registered and a Registration Certificate will be issued by the Registrar of Firms.
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.
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.
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.

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