May 6, 2019

Partnership Firm

Partnership Firm Registration

Ideal for Small-Medium Sized Businesses (Duration-2 to 8 days)

What is Included In Our Partnership Registration Package?

  • Drafting of Partnership Deed
  • Name search & approval
  • TAN
  • Partnership Pan Card

Documents Required For Partnership Registration

The following documents are required for the registration of a Partnership firm:

  1. Statement in Form 1 with the prescribed fees
  2. Notarised True copy of the Partnership Deed stating the following :     

          2.(A) The firm-name
          2.(B) The nature of business of the firm
          2.(C) The place or principal place of business of the firm
          2.(D) The names of any other places where the firm carries on                                    business
           2.(E) The date when each partner joined the firm
           2.(F) The names in full and permanent addresses of the partners
           2.(G) The duration of the firm

     3. Proof of ownership or rent/lease of the location of your business. (e.g.             Electricity Bill/ Water Bill or Rent/Lease/Leave and Licence Agreement           of Business Place)

     4. Copy of PAN Card of partners

     5. Copy of Aadhaar Card/ Voter identity card

The Statement must be signed by all the partners of the firm and must also be verified by affidavit in the prescribed manner.

 

Steps For LLP Registration

Step 1: All the above-mentioned documents must be submitted to the Registrar of firms of the state.

Step 2: A certificate of Registration is then issued, by the Registrar, and a copy should be given to all the partners.

Step 3: Also, a separate registration with the Income Tax department is to be done in order to avoid any future problems and must obtain a PAN card and a bank account under the name of the Partnership firm.

 

Minimum Requirements for Partnership Registration

1. Minimum 2 Partners

2. No fixed minimum Capital Requirement

Need for Partnership Registration

If you don’t register your Partnership :

  • Partner Cannot sue firm: A partner in an unregistered partnership firm cannot sue the firm for enforcing any rights under the Indian Partnership Act, 1932.
  • Cannot claim Setoff in a dispute with a third party.
  • The firm cannot sue third parties whereas the third parties would be able to sue the firm irrespective of registration.