Partnership Firm Registration Online

Contact Us for A Legal Consultation
icon
5+
Year In Business
icon
80+
Team Members
icon
450
Happy Clients
icon
48k
Projects Done
icon
40k
Hours Worked
icon
24/7
Support Available

PARTNERSHIP FIRM REGISTRATION

PARTNERSHIP FIRM REGISTRATION in India

Registration of a partnership firm with the Registrar of Firms refers to the partnership firm registration by its partners. The partners should register the business with the state's registrar of firms. Since registering a partnership firm is not required, the partners may do so when the firm is formed or at any point in the future while it is still in operation.

Checklist for Partnership Firm Registration in India

  • There must be at least two members and a maximum of 50 partners for the partnership firm registration. Also, all partners must submit their ID proof for partnership firm registration in India - acceptable documents are PAN Card, Driving License, Voter ID Card etc.
  • It is necessary to choose a unique name for the firm. Also, it is mandatory to establish Partnership Deeds to avoid future conflicts among partners.
  • Lastly, you will require address proof of your business, so for that purpose, you need to choose a suitable location to conduct your business.

Importance

More simple than it looks!

According to the Indian Partnership Act, partnership firm registration in India is elective and not compulsory. It is discretional and up to the partners' choice. The partnership firm registration is completed at its establishment, incorporation, or ongoing operation.

However, getting a partnership firm registration in India is usually desirable because registered firms are entitled to several special rights and advantages over unregistered ones. The benefits of registration of a partnership firm are:

  1. A partner may file a lawsuit against any other partner or the partnership firm itself in order to enforce his contractual rights. Partners cannot file a lawsuit to assert their rights against an unregistered partnership firm or their fellow partners.
  2. The registered company may sue any third party to enforce a contractual right. An unregistered firm cannot file a lawsuit to enforce a right against a third party. However, any unregistered firm may be sued by any third party.
  3. The registered business may use setoff or other legal actions to enforce a contractual entitlement. The unregistered company is restricted to use setoff in any legal action brought against it.

Types of Partners in Partnership Firm

More simple than it looks!
1. General partnership
when there is no agreement formed between the partners then according to the laws under India Partnership Act, 1932; liabilities of each partner is subjected to unlimited.
2. Limited Partnership
when some or any of the partner has limited liability only to the extent of his capital contributed in the business, it is known as Limited Partnership.
3. Partnership At Will
when the partners form partnership at will, then there’s no restriction on dissolving the partnership.The Partnership Firm can be dissolved according to the will of the partner.
4. Particular Partnership
when a partnership is formed for achieving a particular objective, then it is known as Particular Partnership. Completion of the desired objectives will automatically result in the end of partnership.
5. Limited Liability Partnership
The Limited Liability Partnership popularly known as LLP is a form of partnership which has a separate legal entity and is governed by Limited Liability Partnership Act, 2008. In LLP all the partners possess limited liabilities.

Types of Partners in Partnership Firm

More simple than it looks!
1. Active or Working Partner:

Such partners actively take part in the management of the firm. Their liability is unlimited.

2. Sleeping or Dormant Partner:

These types of partners contribute capital. Their liability is also unlimited. They don't take an active part in the management of the firm. And they are not known to the outside world.

3. Secret Partner:

These types of partners actively participate in the firm's management, but their relationship with the firm is unknown to the outside world.

4. Limited Partners:

These types of partners do not actively participate in the business's management. Their liability is limited to the extent of their share in the firm's capital.

5. Partners in Profit Only:

These types of partners share in the firm's profit but not losses. But their liability for the firm's debt is unlimited.

6. Nominal or Quasi Partner:

These partners neither contribute capital nor participate in the firm's management. Such partners only lend their name and reputation for the firm's benefit.

7. Minor As a Partner:

A minor is someone who's below the age of 18. Such a person cannot become a partner because he is not qualified to enter into a contract. But he may be allowed to the benefits of partnership with the mutual consent of all partners.

8. Partner by Estoppel:

This form of nominal partner identifies himself as a partner of a firm through his words (spoken or written). Such a person incurs liability toward individuals who make financial contributions to the business on his representation.

9. Partner by Holding Out:

It is also a type of nominal partner. A person who is held as a partner, and he does not deny this even after becoming aware of it. Then, it becomes liable to third parties that provided the firm with credit or loans based on the such declaration.

PARTNERSHIP FIRM REGISTRATION PROCESS

More simple than it looks!

Choosing firm name

A unique and attractive name for your partnership firm will give you a leverage of attracting more customers. The name of the firm should not match with any other firm's name to avoid legal issues in future and should not be offensive to law

Preparing Partnership Deed

Partnership Deed is the most important document for a Partnership Firm. A partnership deed consists of all the information regarding the partners and the firm; name and address of the partners and firm , each partner’s share in profit or loss, capital, assets, responsibility and so on. A Partnership Deed is prepared on a stamp paper and is notarized by the registrar, a well formed partnership deed is crucial to avoid future confusion and conflicts between the partners

Applying for firm’s PAN CARD

For the conduction of business of a Partnership firm it is mandatory to have a pan card in the name of the firm, after the formation of Partnership deed, one can apply for a pan card with the necessary documents required. The pan card application can be filled online and sent with the necessary documents to the main office of NSDL. After the verification of documents, Pan card will be allotted in the name of the firm

Opening current bank account

When the pan card is successfully allotted then a current account with the necessary documents (partnership deed, pan card of firm and partners, aadhar card of partners etc.) in the name of the firm will be opened. It is mandatory to have a current account of the firm for all the transactions related to business, the bank account plays a major role in the taxation process therefore, it is necessary to maintain the account transactions carefully

GST Registration

GST registration is mandatory for conducting business for taxation purposes. After completion of necessary basic details, one must apply for GST as soon as possible because without it further process cannot be done.

Partnership firm registration

You can get your partnership firm registration online, although registration of partnership firm under the Partnership Act, 1932 is not mandatory but it is advisable to get your firm registered. As only a registered firm can file legal cases against disputes in the court of law and will have legal protection. For partnership firm registration online, you can give us a call and we will do your whole registration process online without even bothering you of any legal issues and problems

Partnership Firm Registration Process

More simple than it looks!

Governmental organizations can now conduct operations like partnership firm registration and compliance online because of the growing usage of technology. In India, a few states have adopted the Partnership firm online registration process, which calls for the application to be filed with the Registrar of Firms, even though many states still follow an offline procedure.

To file for a Partnership Firm registration under the Act, follow these easy steps for partnership firm registration online.

Steps

More simple than it looks!

Step 1: Pick a name for your partnership:

A business should choose a unique name that sounds different from another well-known entity. The partnership's name should be different from or nearly the same as an existing business. On the Ministry of Corporate Affairs website, the applicant may verify the legality of their selected name.

Step 2: Draft a Partnership Deed:

The partnership deed is the crucial document for the partnership firm registration because it gives the registrar the information needed to complete the tasks. Below are the contents of partnership deed discussed in detail:

Step 3: Apply for the Partnership's PAN Card:

A firm must apply for a Permanent Account Number at the Income Tax Department, regardless of whether it has been registered under the Act. The PAN is necessary to fulfill the tax payment obligation. The firm may apply for it based on a current account held in the company's name.

Step 4: Submit a Registration Application:

In the partnership firm registration application, a firm must include information about its name, the type of business it conducts, its location, the names and addresses of all its partners, and the date the firm first opened. This document is then delivered to the local registrar near the company's main office.

Step 5: Submit the Documents:

The following papers must be delivered to the registrar with the partnership firm registration application as part of the partnership firm registration process: Application for partnership firm registration (Form 1) with a certified copy of the original partnership agreement

PAN Card/ Address proof of both firm and partners. Address proof: acceptable documents include ownership deeds, leases, rental agreements, etc.

Step 6: Pay the Fees & Stamp duties:

All states have different fees. When submitting the paperwork to the registrar, you must pay a partnership firm registration fee and stamp duty. It is important to understand that the partnership firm registration process is only complete once all fees have been paid.

Step 7: Finalize the Deed:

The Deed must be given to each partner in writing on legal paper with a stamp in order to legalize the deed. Each partner must properly sign one stamp paper deed before the notary. After it, you need to submit the signed copy to the registrar as part of the registration procedure. Each state sets its price for the stamp.

Step 8: Certification from the Registrar:

After carefully reviewing the materials, the registrar will issue a partnership firm registration certificate.

As a result, the company will be included in the Register of Firms. The company shall be assumed to be registered as of the date of this entry. The partnership firm must include "(Registered)" as of the registration date after its name

Partnership Deed

A partnership deed is an agreement between the partners that specifies each partner's rights, duties, earnings, shares, and other obligations. Although it is generally desirable to establish a partnership agreement to prevent future disputes, a partnership deed can be written or oral.

  1. Name and address of all Partners
  2. Goal of the Partnership's Business
  3. Individual Partners' Capital Investments
  4. The Partners' Profit Sharing Ratio and Loss Sharing Ratio
  5. Information about the Partners' Equity Drawings
  6. Salary and Other Remuneration-Related Information
  7. Interest on capital
  8. Loan information
  9. Partner Responsibilities
  10. Information for an emergency.
Documents for Registration of Partnership firm

The following documents must be sent online to the registrar for a Partnership Firm registration.

  • Application for partnership firm registration (Form 1)
  • Partnership Deed genuine certified copy.
  • A sample of an affidavit attesting that all the information in the partnership deed and other documents is accurate.
  • The partners' PAN cards and verification of addresses
  • Evidence of the company's primary location (ownership paperwork or a rental or lease agreement).

FAQ's

Few doubts important to be resolved quickly

1. What is the minimum number of partners required for a partnership registration?

The minimum number of partners required for a partnership registration is two partners. The maximum number of partners prescribed by the Central Government is 50.

2. What are Partnership Firm Registration Fees?

The fees for online partnership firm registration depend on the partners' contribution. It varies from state to state. Each state has different government fees for registering a partnership firm. However, you can choose any Lawgical India partnership firm registration plan online for a partnership firm registration filing.

3. What is a Partnership Deed?

A partnership deed is an agreement between the partners that specifies each partner's rights, duties, profits, shares, and other obligations. Although it is always advisable to write a partnership deed to prevent future disputes, it can be written or oral.

4. How much time does it take to register a partnership firm?

In India, the process of registering a partnership firm can take up to 12 to 14 working days. However, depending on the relevant state's laws, it may take longer or shorter to issue a certificate of incorporation.

PARTNERSHIP FIRM REGISTRATION

More simple than it looks!
GOLD
7999/-
3999/- + Govt. Fees
  • Registration within a week
  • Authorised Capital upto 5 lakhs
  • MOA, AOA, Pan, Tan, e-copy
  • Starter Manual e-copy
  • 2 DIN & DSC
  • Certificate of Incorporation e-copy
  • FREE CONSULTANCY
  • Physical Delivery of all documents
  • Laminated and Binded docs
  • Company Stamp
  • Infomative Website
  • 1 year Domain & Hosting
  • Basic On-Page SEO
  • Google Analytics & Web mails
  • GST Registration
  • Udyam Registration
  • Trademark Registration
  • Audit & Annual Compliances
  • ISO 9001:2015
  • Appointment of Auditor
  • Commencement Certificate
  • ITR of Company
PLATINUM
7999/-
3999/- + Govt. Fees
  • Registration within a week
  • Authorised Capital upto 5 lakhs
  • MOA, AOA, Pan, Tan, e-copy
  • Starter Manual e-copy
  • 2 DIN & DSC
  • Certificate of Incorporation e-copy
  • FREE CONSULTANCY
  • Physical Delivery of all documents
  • Laminated and Binded docs
  • Company Stamp
  • Infomative Website
  • 1 year Domain & Hosting
  • Basic On-Page SEO
  • Google Analytics & Web mails
  • GST Registration
  • Udyam Registration
  • Trademark Registration
  • Audit & Annual Compliances
  • ISO 9001:2015
  • Appointment of Auditor
  • Commencement Certificate
  • ITR of Company
DIAMOND
7999/-
3999/- + Govt. Fees
  • Registration within a week
  • Authorised Capital upto 5 lakhs
  • MOA, AOA, Pan, Tan, e-copy
  • Starter Manual e-copy
  • 2 DIN & DSC
  • Certificate of Incorporation e-copy
  • FREE CONSULTANCY
  • Physical Delivery of all documents
  • Laminated and Binded docs
  • Company Stamp
  • Infomative Website
  • 1 year Domain & Hosting
  • Basic On-Page SEO
  • Google Analytics & Web mails
  • GST Registration
  • Udyam Registration
  • Trademark Registration
  • Audit & Annual Compliances
  • ISO 9001:2015
  • Appointment of Auditor
  • Commencement Certificate
  • ITR of Company

Testimonial

Book a quick call and avail free
offers with a business setup.
bg-img