Running your Business as Joint Owners ? Register as a Partnership Firm with Tax Planner
Running a firm where multiple partners decide the terms of business operation has many legal and compliance angles. Such matters are best left to experts! Choose this plan to avail end to end services right from registering as a partnership firm to preparation of documents involved.
Partnership Deed Drafting
Filing of deed and other documents with the Registrar of Firms
Issue of Registration Certificate (Subject to Department Approval)
A group of at least 2 people having a business idea
Small businesses looking to using pool of resources contributed by multiple people
Any existing unregistered Partnership Firm
This plan is equipped with end-to-end online fulfillment via our expert. No hassle, 100% Digital.
Purchase of Plan
Session with our Expert
Upload Documents on Vault
Partnership Deed Drafting
Filing of application with Registrar
Address proof of partners
Photo ID proof of partners
No objection certificate from the owner of the property of the property
Rent agreement of your registered office
A Partnership is where two (or more) people join hands to carry out a business for profit. The partners become joint business owners and carry out operations governed by the partnership deed.
The regulations are least and it makes it a desirable option for businesses having joint owners. However, in a partnership firm the partners are jointly and individually liable for debts of the firm.
This form of structure is ideal if there are no/less requirement of external funds and low risk of bad-debts for example consultancy firms.
Partnership firms are governed by the Indian Partnership Act, 1932. Under the act, registration is not mandatory but it is advisable due to following reasons:
Partner(s) can’t file a case in any court against the firm/ other partners unless firm is registered.
A partnership firm can be registered whether at the time of its formation or even subsequently. The application for registration is to be made to the registrar of firms of the region in which the business is situated. It is advisable to get the firm registered as soon as it starts its business to avail the rights that can be enjoyed only by a registered firm.
The name of a partnership firm should not contain any words which indicate the approval/support of the government other than a case where the government has given its written consent for the use of such words as part of the firm’s name.
The names must not be too identical or similar to the name of another existing firm doing similar business.
The name must not contain words like Crown, Emperor, Empress, Empire or any other word indicating government approval.
The government fees applicable varies from state to state based on partner contribution. In most states the fee falls in range of Rs.1000-1500 along with stamp duty. Our experts will guide you on this. You will be charged only on actual government fees.
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