Partnership Firm Registration in Delhi - Process & Fees

01 August 2023

When two or more individuals come together to carry out a business with a common goal and mutual understanding, the entity is called a partnership firm. It is governed by the Indian Partnership Act, 1932. In a partnership firm. The partners agree to share profits, losses, and liabilities based on the outlined terms in a partnership deed. The partners together manage and contribute capital, skills, and resources to the business. This firm does not have a separate legal entity from its partners. It means that the partners are personally liable for the firm's obligations and debts. This entity is the best fit for small and medium-sized businesses, professional practices, and entrepreneurial ventures.

How to Get it Registered in Delhi Online?

The registration of a partnership firm in Delhi can happen online through a simple and streamlined process. Here's a step-by-step guide on how to register a partnership firm in Delhi online:

Step 1. Partnership Deed: Hire a compliance consultant from Delhi to draft a partnership deed that outlines the terms and conditions of the partnership, including details of partners, profit-sharing ratio, capital contribution, and other relevant clauses. It is a crucial document for partnership firm registration. So, it's better to consider hiring a consultant.

Step 2. Choose a Unique Name: Selecting a unique name for your partnership firm is a must. It must not conflict with any existing trademarks or businesses. Ensure that the name is not prohibited by any regulations.

Step 3. Visit the Official Website: Go to the official website of the Ministry of Corporate Affairs (MCA) or the designated portal for partnership firm registration in Delhi (if you can, else take help of the consultant).

Step 4. Fill Online Application Form: Fill out the online application form with the necessary details such as the firm's name, address, partners' information, and other relevant information as requested.

Step 5. Upload Documents: Attach the supporting documents, including the partnership deed, identity proof, and address proof of all partners. The documents should be scanned copies in the prescribed format.

Step 6. Pay the Registration Fee: Make the online payment of the partnership firm registration fee as per the applicable rates. The fee may vary based on the capital contribution and other factors.

Step 7. Submission and Verification: After submitting the application and fee, the portal will generate an acknowledgment receipt. The concerned authority will review the application and documents for verification.

Step 8. Issuance of Certificate: Once the verification is complete and the application is approved, the Registrar of Firms will issue a Certificate of Registration for the partnership firm. The certificate serves as proof of the firm's existence.

What are the Requirements for its Registration?

There may be some discrepancies that can hamper registration or verification. So, it's good to understand the requirements for it prior.  To register a partnership firm in Delhi, certain requirements need to be fulfilled. Here are the key requirements for partnership firm registration:

• Partnership Deed: Prepare a partnership deed that outlines the terms and conditions of the partnership. It should include details such as the firm's name, business address, names and addresses of partners, capital contributions, profit-sharing ratio, and the duration of the partnership.
• Partners: A partnership firm requires a minimum of two partners. The partners can be individuals or other registered entities. Each partner must be competent to enter into a contract and should not be disqualified by law.
• Name of the Firm: Choose a unique name for the partnership firm. It should not be similar to any existing firms or violate any trademarks or intellectual property rights. Check the availability of the chosen name on the official government website.
• Address Proof: Provide a valid address proof for the partnership firm's registered office. It can be a rental agreement, lease deed, or ownership documents along with utility bills.
• PAN Card: Procure a Permanent Account Number (PAN) card for the partnership firm. It is required for financial and tax-related purposes.
• Partnership Deed on Stamp Paper: Get the partnership deed printed on stamp paper of the prescribed value as per the Stamp Act. The partnership deed should be signed by all partners in the presence of witnesses.
• Partnership Firm Registration Form: Complete the partnership firm registration form, which includes details about the firm, partners, address, and other required information.

What is Its Fee Structure?

The fee structure for partnership firm registration in Delhi may vary based on different factors. Here is a general outline of the fee structure:

• Stamp Duty: Partnership deeds are required to be printed on stamp paper of a certain value as per the Stamp Act. The stamp duty amount depends on the capital contribution and the state in which the partnership firm is registered. The stamp duty rates can range from a few hundred to a few thousand rupees.
• Partnership Firm Registration Fee: The partnership firm registration fee is payable to the Registrar of Firms. The fee is based on the capital contribution of the partnership and may vary from state to state. It is typically a nominal amount.
• Professional Consultation Fee: If you choose to seek professional assistance from a consultant or legal expert for partnership firm registration, there may be professional consultation fees involved. The charges can vary based on the complexity of the registration process and the services provided by the professional.

Note: It is important to note that the fee structure can change over time, and the specific fees applicable for partnership firm registration in Delhi should be confirmed from the official government sources or consulted with a professional consultant or legal expert. They will provide you with accurate and up-to-date information on the fee structure and any other charges associated with the partnership firm registration process in Delhi.

Conclusion

It is advisable to consult with a professional consultant or legal expert to understand the specific requirements and process for partnership firm registration in Delhi, as they may be subject to change and may have additional requirements based on the nature of the business and local regulations.