Updated on March 24, 2025 03:36:02 PM
A partnership firm is a popular form of business incorporation where two or more people operate a business alongside each other as partners and distribute profits or liabilities among themselves based on set percentages. The process for partnership registration is not mandatory by law as per the Partnership Act of 1932, but professionals recommend this process to prevent legal consequences and build trust among stakeholders.
The business structure of partnership firm ideally serves Small and Medium-sized Enterprises (SMEs) as its highly efficient due to its straightforward approach, minimal regulatory needs, and budget-friendly management. Without partnership company registration, a firm encounters problems when trying to assert its rights, get loans or enforce legal solutions.
Partnership firm registration offers various benefits, including legal recognition, better market reputation, and access to financial support. To register as a partnership firm in India, you must first draft a partnership deed, obtain a PAN card, and submit an application to the Registrar of Firms. Read the following article to learn about the partnership firm registration fees, benefits, procedure, required documents, and other essential details related.
Partnership Deed [Sample]
Partnership firm is a business entity registered under the Partnership Act, 1932 where two or more people join together as partners for running & managing a business while sharing the profits and losses in an agreed ratio. Partnership firms can only be registered when the partnership deed is signed and accepted by all the partners of the firm.
Partnership deed is an agreement between the partners in which all the terms and conditions related to business are incorporated. Some of the major terms and conditions mentioned in the deed of a partnership are:
A partnership firm is a popular business structure that offers several advantages for small and medium-sized enterprises. Here are some key benefits of choosing a partnership firm:
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Managing a partnership firm is very easy as there are no mandatory compliances of auditing for small businesses unlike a limited liability partnership or private limited company.
Registering and maintaining a partnership firm does not require involvement of Digital Signature Certificate and Designated Partner Identification number which makes it more economical than other forms of businesses.
Partnership can be registered only with a partnership deed and PAN Card of the firm. Hence, it is easy to start and exit.
Registering a partnership firm involves a few essential steps to ensure legal compliance and proper documentation. Here's the procedure for registering a partnership firm:
Foremost step to incorporate a partnership is preparing a partnership deed which needs to be agreed and signed by all the partners of the firm. It is the most important step of partnership registration as all the necessary terms and conditions are mentioned in this agreement.
Once the partnership deed is registered, PAN card application has to be made with the Income Tax Department. It takes around 3-7 working days for registration under the Income Tax Department and issuance of physical PAN Card.
Depending upon the requirement of the business and GST Law, application for GST registration has to be made with the Department. GST registration usually takes 5-10 working days.
Once all the steps are completed, the current bank account should be opened by the partnership firm. Single partner or all the partners can act as an authorized signatory for opening and managing the bank account.
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The process of registering your business as a partnership firm is not much complicated. Our experts at Professional Utilities can simplify the whole registration process for you. Register your company online in 3 easy steps:
Step 1:
Get in touch via call or contact form
Step 2:
Provide necessary documents
Step 3:
Get your incorporation registered in 7-10 working days
Minimum two partners
Partners should be the citizens of India
Address proof of business office
1. Copy of Aadhar & PAN Card
2. partnership Agreement/Deed
3. Address proof of office
Once your partnership firm is successfully registered, you will receive certain important documents that are essential for conducting business legally. Here’s a list of documents you’ll get after partnership registration:
The total cost of registering a Partnership Firm in India, including government and professional fees, is ₹2,499 Only and takes around 10-14 working days subject to document verification by the concerned authorities.
Note: The aformentioned Fees is exclusive of GST.
Partnership firm registration in India provides multiple benefits such as legal recognition, increased credibility, and easy access to financial assistance. Partnership firm registration is optional but it is crucial to avoid legal complications and build trust amongst stakeholders. To apply for Partnership firm registration, you need to prepare and draft a partnership deed, PAN card, and submit the required documents to the Registrar of Firms. Furthermore, firms will be required to register for GST and other licenses depending on their business operations. The registration process of partnership firms must happen on time, along with proper compliance to boost business efficiency through reduced operational risks. You may collaborate with our experts at Professional Utilities to get assistance with the partnership firm registration process while ensuring hassle-free business management.
At Professional Utilities, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.
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It takes around 10-14 working days to register a partnership.
Yes, your registration can be cancelled. You’ll have to dissolute the firm for cancellation of partnership registration.
A partnership could be registered by registering a partnership agreement or deed where all the terms and conditions would be incorporated.
As per the Partnership Act, 1932, it is required to submit a copy of PAN card of all partners and address proof of office for partnership registration.
Note: You can use your residential address as address proof of office.
It would cost around Rs. 1,999 (including govt and professional fee) for registering a partnership firm in India.
Basically there are two types of partnership deeds - one is registered and the other one is not registered. Registered partnership is incorporated from the office of registrar where no notarisation is required. In case of unregistered partnership, notary is mandatory.
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