Partnership Firms Registration
BEST SUITED FOR
- Professional services
- Firms seeking capital contribution from partners
Benefits of Partnership Firm Registration
- Easy to form with minimal compliance requirements.
- Shared responsibilities and decision-making among partners.
- Profit-sharing as per agreed terms in the partnership deed.
- No mandatory audit requirement unless turnover crosses prescribed limits.
Process
1
Drafting the Partnership Deed
Outlining the terms, roles, profit-sharing ratios, and dispute resolution mechanisms
2
Registration with Registrar of Firms (Optional but Recommended)
Legal recognition and credibility enhancement.
3
GST & PAN Registration
Compliance with taxation norms.
4
Bank Account Setup
Compliance with taxation norms.
Required Documents
- PAN and Aadhaar of partners
- Address proof (utility bill, rent agreement, or recent bank statement) for partners
- Proof of registered office address (rent agreement and NOC from the owner)
- Passport-size photographs of partners
- Email ID and mobile number of partners
- Brief description of the partnership firm’s business activities