Professional Assistance for Partnership Formation

Why Choose Partnership?

A partnership firm is a popular choice among entrepreneurs due to its simplicity and flexibility. It allows multiple individuals to come together and combine their resources, skills, and expertise to run a business. Registering your partnership firm is the first step towards formalizing your partnership and ensuring its legal recognition.
we understand that navigating the intricacies of partnership firm registration can be daunting. That's why we offer a comprehensive and hassle-free partnership firm registration service designed to meet your needs. Whether you are a new startup or an existing unregistered partnership looking to formalize your business, our expert team of professionals guides you through every step of the registration process.

Advantage

Ease of Formation: Partnership firms are relatively easy and cost-effective to establish, involving fewer formalities compared to other business structures.
Varied Skill Sets: Partners can bring diverse skills, knowledge, and resources to the business, enhancing its overall capabilities.
Shared Financial Burden: Partners share the financial responsibilities and risks, making it more manageable for each individual.
Tax Benefits: Partnership firms are not subject to income tax themselves. Instead, profits are taxed at the individual partners' tax rates, which can lead to potential tax savings.
Flexible Decision-Making: Partnerships allow for flexible decision-making as partners have a say in the business's operations and direction.
Greater Access to Capital: Partners can contribute capital, and additional partners can be added to raise more funds for the business.

Disadvantage

Limited Capital: Raising substantial capital may be challenging as it relies on the partners' contributions and potential loans.
Conflict Potential: Differences in opinion among partners can lead to conflicts and hinder decision-making.
Limited Growth Potential: A partnership may need more growth and scalability compared to larger business structures.
Continuity Issues: The firm's continuity may be disrupted due to a partner's death, withdrawal, or insolvency unless provisions are made in the partnership deed.
Tax Complexity: Partnerships can involve complex tax arrangements, and each partner is responsible for their own tax compliance, which may require professional assistance.

Documents

PAN ( Permanent Account Number) of all Partners (Minimum 2)
Address Proof ( Voter Id, Passport, Driving License, Aadhar Card) of all partners
Latest passport size Photographs of all partners
Registered Office Address Proof - Electricty Bill along with Rent Agreement / ownership proof of proposed registered office.

Steps involved

Step One

Obtain a DSC for all partners. This electronic signature is necessary for online document signing and can be acquired from a certified agency.

Step Two

After securing the DSC, partners must apply for a unique DPIN. This identification number is required for all partners and can be obtained through the MCA website.

Step Three

Select a unique name for the partnership firm, ensuring it is not identical or similar to any existing company or LLP. It must also comply with legal naming regulations.

Step Four

Create a comprehensive partnership deed outlining the terms and conditions of the partnership. This document should include the firm's name, partner names and addresses, business nature, profit-sharing ratio, and the partnership's duration.

Step Five

Partners must apply with the Registrar of Firms, including firm details, partners' names and addresses, and the duration of the firm.

The name of the Partnership Firm
The principal place of business
The location of any other sites where the firm carries on business
The date of joining of partners
The names and addresses of the partners
The duration of the firm

Step Six

Following verification by the Registrar of Firms, If the Registrar is satisfied with the application, a Certificate of Registration will be issued to confirm the partnership firm's registration. This certificate proves the firm's registration with the Registrar of Firms.

Step Seven

Apply for a Permanent Account Number (PAN) and a Tax Deduction and Collection Account Number (TAN) from the Income Tax Department. These numbers are essential for tax-related matters.

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Partnership Registration