Partnership Firm Registration
Register your own partnership firm in no time with CAAQ. Have a simple setup, minimal expenses, hassle-free processing, & your partnership deed registration the same day. We are here to assist you on updating and applying for a PAN and a Bank Account at all stages.
Partnership Firm Registration
Get your partnership firm registration in India in a fast turnaround time. We guide you throughout this process. Our dedicated professionals are here to guide on partnership deed drafting for the firm anywhere across India. We have years of experience in making it easy for you.
Merits of Partnership Firm
Discover Advantages that this Company Offers
- Minimum Compliance
A general partnership does not need any auditor. The unregistered, or under-process registration firms do not necessarily file annual accounts with the registrar. Its annual compliance is lower than an LLP.
- No Need to Register
It’s not must to go for partnership firm registration. However, it would enable you to claim recovery above INR100 at any time if there is any if your company is registered.
- Simple to Start with
A general partnership can be started in 2-4 business days with an unregistered deed of partnership. The registered deed, however, ensures its own benefits.
A general partnership costs less than an LLP. In the long run also, it would be more budget-friendly because the compliance would cost minimal.
Minimal Requirements to be Fulfilled
- Minimum Two Persons
It requires two to start with a Partnership Firm. You may have maximum of twenty partners in India. There should have no foreigner as a partner in this firm.
- Capital Requirement
The Partnership Act 1932 sets no minimum or maximum capital limit. You may set it in accordance with your business requirements. The stamp duty will depend on the capital and your state’s rules.
- Unique Name
Select a unique name for your firm, which should complement your main business activity. It should not coincide with any existing business or registered or applied trademark.
- Business Address
The address to carry out your business or maintain the books of account is called its Principal Place of Business. You should submit the latest proof of the business address together with an NOC issued by the owner of the premises.
Standard Process for Registration of Partnership Company Registration
End-to-end consultation on how to successfully register the company
- Arrange Documents to Setup
You should have valid, updated and authentic documents of the partners and the Principal Place of Business. You may share the checklist of documents in the form enclosed with this page.
- Find a Unique Name
To avoid any duplicity, you should thoroughly check the name of existing businesses or trademarks. You may visit mca.gov.in for checking the trademark. It is a database of the Registrar of Trademarks’ website.
- Draft Partnership Deed
Also known as the Partnership Agreement, the Deed represents the primary document. It consists of necessary terms/ contracts that determine the partners’ mutual rights and obligations. It also includes the capital, profit-sharing ratio, and end-to-end workflow of the firm. We make it easy to draft in no time.
- Stamp Duty & Notary of Partnership Deed
Once approved and adopted by all partners, it requires an appropriate stamp duty. The stamp duty differs from state to state and depends on the firm’s capital. Finally, it is signed in the presence of two witnesses. Then, it is notarized by a notary public.
- PAN Card & TAN of the Firm
We apply for PAN Number and your Partnership Firm’s PAN Card on your behalf by filling up Form No. 49A. Thereafter, the TDS Number or TAN is applied through Form No. 49B. It is a must to show that your firm complies with the TDS provisions.
- GST Registration of the Firm
The firm may have to get registered with the GST. It is a tax imposed on the supply of goods or services while complying with the GST law provisions. You may visit our GST registration page to carry out this process.
- Registration of Partnership Firm with ROF
However, it is not mandatory to register your partnership firm under The Partnership Act, 1932, Section 69. The unregistered firm shall not claim any recovery of more than INR 100. So, this partnership firm registration is strongly recommended.
Checklist of Documents
Do enclose valid and complete list of these documents
Benefit from personalized partnership firm registration solutions designed to meet the unique needs of your business. Choose CAAQ Consultants for customized assistance.