Follow Us :

Facebook Twitter Youtube Instagram

Get your Partnership Firm Registered hassle-free with our expert services

Registering a Partnership Firm in India involves choosing a unique name, drafting a partnership deed, and registering with the Registrar of Firms. Seek professional assistance for a smooth registration process. Get registered now!

Want to know More ?

An Overview

What is Partnership Firm?

A partnership firm is a business entity in which two or more individuals join hands to carry out a business venture with a common goal. In a partnership firm, partners share the profits, losses, and management responsibilities as per the terms outlined in the partnership deed.

Explanation of Partnership Firm : A Partnership Firm is a business entity formed by two or more individuals who come together to carry out a business venture. In a partnership firm, the partners share the profits, losses, and management responsibilities as per the terms outlined in the partnership deed. This type of business entity is popular among small and medium-sized enterprises due to its ease of formation, minimal compliance requirements, and flexibility in management. The partners are jointly and individually liable for the debts and obligations of the firm. The partnership deed outlines the partnership terms, including each partner’s capital contribution, profit-sharing ratio, decision-making process, and dissolution of the firm.

Importance of registering a Partnership Firm

Legal recognition : Registering a Partnership Firm provides legal recognition to the business entity. It helps establish the credibility of the firm in the eyes of the customers, vendors, and government authorities.

Limited liability : A registered Partnership Firm provides limited liability to its partners. In case of any legal disputes or debts, the personal assets of the partners are not at risk.

Easy access to bank loans : A registered Partnership Firm can easily avail bank loans, credit facilities, and other financial assistance. It helps in raising capital for the business and expanding its operations.

Tax benefits : A registered Partnership Firm is eligible for various tax benefits such as deductions on business expenses, depreciation, and tax exemptions on profits earned.

Transfer of ownership : In a registered Partnership Firm, ownership can be easily transferred to family members or other partners. It helps in ensuring the continuity of the business in case of retirement or death of the partners.

Brand protection : Registering a Partnership Firm helps in protecting the brand name and logo of the business entity from any unauthorized use or infringement by others.

Some count that matters

0 +
Services Offered

0 +
Professionals

0 +
Years of Journey

0 +
Happy Customers

Required documents for registration

  • Partnership Deed: The Partnership Deed is a legal document that outlines the terms and conditions of the partnership, such as the name and address of the firm, the capital contribution of each partner, the profit-sharing ratio, the decision-making process, and other terms of the partnership.
  • PAN Card: The PAN card of all partners of the Partnership Firm is required.
  • Identity proof: Identity proof of all partners, such as an Aadhaar Card, Voter ID, Passport, or Driving License.
  • Address proof: Address proof of all partners, such as an Aadhaar Card, Voter ID, Passport, or Driving License.
  • Registration Certificate: If the firm is registered under any other act, a copy of the registration certificate is required.
  • NOC: No Objection Certificate (NOC) from the owner of the premises where the Partnership Firm is located.
  • Bank Account Proof: Proof of the bank account of the Partnership Firm.
  • Registered Office Address Proof: Proof of the registered office address of the Partnership Firm, such as a rent agreement or ownership document.

Getting your Partnership Firm registered is easy with TeamCSP

Getting your Partnership Firm registered is a simple and hassle-free process with the assistance of TeamCSP. We provide end-to-end services for partnership firm registration, including selecting a unique name, drafting a partnership deed, and registering the firm with the Registrar of Firms. Our team of experienced professionals ensures that all the necessary legal and regulatory requirements are met and that the registration process is completed smoothly and efficiently.

Our services include assistance in obtaining the necessary documents, drafting the partnership deed, filing the registration application, and obtaining the registration certificate. We also provide guidance on various compliances, tax filings, and other legal requirements post-registration.

At TeamCSP, we understand that starting a new business venture can be challenging, and hence we aim to provide hassle-free services to our clients. We prioritize the needs of our clients and provide tailored solutions to meet their specific requirements. With our expertise and experience, we ensure that your partnership firm registration is completed efficiently and within the stipulated time frame.

 

Steps To Register Partnership Firm

Choose a unique name for your Partnership Firm: The name should not be similar to any other existing firm or violate any trademark laws.

Draft a Partnership Deed: A Partnership Deed is a legal document that outlines the terms and conditions of the partnership, such as the name and address of the firm, the capital contribution of each partner, profit sharing ratio, the decision-making process, and other terms of the partnership.

Get the Partnership Deed notarized: The Partnership Deed should be notarized by a Notary Public or an advocate.

Apply for PAN and TAN: Obtain a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the Partnership Firm.

Register the Partnership Firm: Register the Partnership Firm with the Registrar of Firms by filing an application along with the Partnership Deed and necessary documents.

Obtain Registration Certificate: Once the application is processed, the Registrar of Firms issues a Registration Certificate, which confirms the legal existence of the Partnership Firm.

Open a Bank Account: Open a bank account in the name of the Partnership Firm, and provide the necessary documents such as Registration Certificate, PAN, and TAN.

Obtain Licenses and Permits: Obtain any necessary licenses and permits required for the business operation.

Frequently Asked Questions

A Partnership Firm is a business entity where two or more persons come together to carry out a business venture and share the profits and losses according to the agreed-upon partnership deed.

To register a Partnership Firm, the partners need to draft a Partnership Deed and submit it to the Registrar of Firms along with the necessary documents, such as PAN Card, identity proof, address proof, and registration certificate.

A Partnership Deed is a legal document that outlines the terms and conditions of the partnership, such as the name and address of the firm, the capital contribution of each partner, profit sharing ratio, the decision-making process, and other terms of the partnership.

Yes, a Partnership Firm can be converted into a Private Limited Company by following the necessary legal procedures and obtaining the necessary approvals from the authorities.

Although it is not mandatory to register a Partnership Firm, it is advisable to do so to ensure legal compliance and protection of the partners’ interests. Registering a Partnership Firm also helps in obtaining bank loans, attracting investors, and expanding the business in the future.

info@teamcsp.in

Drop Us a Line

+91 8527614795

Call Us Now !

Delhi

Get Direction

Teamcsp.in is a team of corporate solution professionals like lawyers, CA, CMA, finance professionals, bankers ,business strategists, influencers, marketing, and technology professionals.

Facebook Twitter Youtube Instagram
Quick Links
Popular Services
Newsletter

Get the latest updates via email.

All Rights Reserved – Team CSP BY JP Softech