Partnership Firm

A partnership firm is a business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Deed that may or may not be registered. In such a business, the members are individually partners and share the liabilities as well as profits of the firm in a predetermined ratio.

About This Plan

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.

  • We study your business requirements.
  • We prepare the first draft and share with you within 4 working days.
  • We do up to two rounds of iterations, if necessary, at no extra cost.

Services Covered

  • PAN Application
  • Partnership Deed Drafting
  • Filing of deed and other documents with the Registrar of Firms
  • Issue of Registration Certificate
  • Affidavit filing with the registrar

Who Should Buy

  • 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

How It's Done

  • Purchase of Plan
  • Session with GoodCa
  • Upload Documents on Vault
  • Partnership Deed Drafting
  • Filing of application with Registrar
  • Receipt of Registration Certificate
10 DaysEstimate

Benefits

  • Minimum Compliance

    For General Partnerships, there is no need for an auditor to be appointed or, if the company is still in the process of registration or incase unregistered, annual accounts filing with the registrar is not necessary either. When compared to LLP, annual compliances are also fewer. Further, taxes depending on turnover, service and sales tax also need not be filed in General Partnerships.

  • Simple To Begin

    General Partnerships can begin simply with an unregistered deed of the partnership within 2-4 business days. However, having registration for the same has its own perks and advantages. The primary advantage for having a registered firm is that it will allow you to book lawsuits in courtrooms opposing another business or the business associates in the firm for the administration of rights addressed in the Partnership Act.

  • Comparatively Economical

    In comparison to LLP, a General Partnership is much cheaper to begin. Even in the longer run, it will still work out inexpensive as the compliance requirements are very minimal. For example, there is no need for an auditor. Therefore, Home businesses still opt for this, although it offers unlimited liability.


Documents Information

Documents To Be Submitted

  1. Address Proof
  2. Photo ID Proof
  3. No Objection Certificate From The Owner Of The Property Of The Property
  4. Ownership Proof
  5. Rent Agreement Of Your Registered Office
You can purchase this plan in below price.

7499 /-

Checklists

Frequenty Asked Questions

What is a Partnership Firm?

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.

Why should Partnership Firm go for registration?

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) cannot file a case in any court against the firm/ other partners unless firm is registered. The unregistered firm or its partners can’t file a case against third party on breach of a contract but the third party can file a case In case of a dispute with a third party, the unregistered firm or any of its partners cannot claim a set off

When should we apply for registration of our partnership firm ?

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.

What will be the government fee for firm registration?

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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