Registration of a Partnership Firm
Partnership Registration
Partnership is an association two or more persons who have mutually decided to carry out business activities jointly and to share its profits as well as losses.
Minimum Requirement for Partnership firm:
A minimum number of two partners who are adults.
- One of the partners of a Partnership firm has to be an Indian Citizen and Indian Resident.
- The other partner(s) can be a Foreign National.
- It is voluntary to register a partnership firm in the Indian Partnership Act, 1930
Advantages of Partnership firm Registration
- Easy Formation
- Flexbility
- Secrecy
- Credit-worthiness
Documents required to register a partnership firm
- ID Proof Of All Partners Like Pan Card, Aadhar Card (Uid), Passport, Driving Licence, Election Id Card, Etc
- Current Office Address Proof Like Valid Rent Agreement, Property Document, Noc From The Landlord (If Rented)
- Five Suggested Names
- Nature Of The Business
- Details of proposed business
- Details of capital contribution and profit sharing ratio.
To register a partnership firm, you need to follow these steps:
- Choose a suitable name for your partnership firm.
- Create a partnership deed that outlines the terms and conditions of the partnership, including the names of the partners, their capital contributions, profit and loss sharing ratio, and other important details.
- Obtain a PAN (Permanent Account Number) for your partnership firm from the Income Tax Department.
- Register your partnership firm with the Registrar of Firms in your state. You will need to submit the partnership deed along with the application for registration.
- Pay the required fees for registration and obtain the registration certificate from the Registrar of Firms.
- Obtain other necessary registrations and licenses, such as GST registration, if applicable.
- Open a bank account in the name of your partnership firm and start doing business.
Note: The exact process and requirements for registration may vary depending on the state in which you are registering your
