A partnership firm is a business structure in which two or more individuals manage and operate their business in accordance with the terms and objectives set out in a Partnership Deed that may or may not be registered. In such a business, the members are individually partners and share the liabilities as well as profits of the firm in a predetermined ratio.
A partnership deed is a written agreement made between two or more partners who are willing to undertake business together. The deed consists of all the terms & conditions that are made in agreement with the partners. A partnership deed must contain the following:
The documents required from the director and shareholders are:
Documents required are as follows:
Partnership Firm Registration process can be completed in around 10-14 working days after all document received completely from customer side; as follows:-
Indian Partnership Act, 1932 governs the partnerships. Registration of partnership firm is optional and at the discretion of the partners.
Registration of partnership firm may be done at any time – before starting a business or anytime during the continuation of partnership.
It is always advisable to register the firm since a registered firms enjoy special rights which aren’t available to the unregistered firms.
An application form along with fees is to be submitted to Registrar of Firms of the State in which firm is situated. The application has to be signed by all partners or their agents.
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