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Partnership
Registration

Easy, Transparent, and Fastest Way to Register a Partnership Firm

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Easy & Hassle Free Online Process

Dedicated Expert & Account Manager

Advisory Session From Experts

Why Choose Partnership?

A partnership, as opposed to a corporation, is fairly simple to establish and run. No forms need to be filed or formal agreements drafted (although it is advisable to write a partnership agreement in the event of future disagreements).

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Advantages of Forming a Partnership

Collaboration
Tax advantages
Simple operating structure
Flexibility
Acquisition of capital

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Disadvantages of Forming a Partnership

Conflict with partners
Authority of partners
Unlimited liability
Vulnerability to death or departure
Limitations on transfer of ownership

Our Packages

Unregistered Partnership Deed

Exclusive Government Fees
Starting at ₹ 1999GST will be charged at 18%
  • Unregistered Partnership Deed

Documents Required For Partnership Registration

PAN ( Permanent Account Number) of all Partners (Minimum 2)
Address Proof ( Voter Id, Passport, Driving License, Aadhar Card) of all partners
Latest passport size Photographs of all partners
Registered Office Address Proof - Electricty Bill along with Rent Agreement / ownership proof of proposed registered office.
Copy of Mobile bill, telephone bill, electricity bill or Bank Statement of all directors / promoters with Present address (could be different from permanent address).

Process Involved

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STEP – 1
Documentation

We will need the set of documents to draft a partnership deed

STEP – 2

Information Required

Once Documents are received, We will need some information like salary to be paid to partners etc in a form

STEP – 3

Partnership Deed Drafting

Partnership deed will be drafted and sent to client for approval

STEP – 4

Partnership Deed Signing

Approved deed will be send to client for signing

STEP – 5

Partnership Deed Registration

Signed Partnership deed will be send for Notarization and Registration

STEP – 6

PAN and TAN

Permanent Account Number (PAN) is applied based on Partnership Deed after that TAN number is applied Once we receive copy of PAN card

FAQs

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

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 Partnership with prior approval of the Government of India.

 

PAN Card of 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.

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.

MyCorporation Associate will understand your business requirements and help you start a Partnership firm by drafting the Partnership deed. Based on the requirements.

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.

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.

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.

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.

Partnership firm will have to file their annual tax return with the Income Tax Department. Other tax filings like Goods & Service Tax Return 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 of Corporate Affairs, which is required for Limited Liability Partnerships and Companies.

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.

Unregistered Partnership can't be converted to Company or LLP. The Partnership Firm which wants to convert itself to LLP must be registered under Indian Partnership Act, 1932. Unregistered Partnership Firm can't be converted to LLP. LLP incorporated by conversion of Partnership Firm to LLP must have same partners as they were in the Partnership Firm.

MyCorporation provides partnership deed services across India in all cities. We have done partnership registration in Mumbai, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Ahmedabad, Kolkata, Surat, Pune, Jaipur, Lucknow, Kanpur, Nagpur and other Indian cities.

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Easy, Transparent, and Fastest Way to Register a Partnership Firm

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Services

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