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Partnership Firm

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Ideal For Small Sized Partnership.

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Overview
Packages
Why Choose Partnership
Steps
Documents Required
Comparison

Overview

  • Agreement: - Partnership is the result of an agreement. It must come into existence by an agreement and not by the operation of law
  • Profit Motive: - Partnership can be formed for the purpose of carrying on some business with the intention of earning profits and such business must be legal.
  • Sharing of Profits: - The agreement between the partners must be aimed at sharing the profits of the business
  • Relationship of Principal and Agent: Each partner is an agent as well as a partner of the firm. An agent, because he can bind the other partners by his acts and a principal because he himself can be bound by the acts of the other partners.
  • One or all: - It means that each partner can participate in the conduct of business and each partner is bound by the acts of other partners with respect to the business of the firm.

Packages

Choose the package that suits you and let us know.

Why choose Partnership?

Partnership firm is one of the cheapest ways to form a legal entity in India, created by drafting a partnership firm deed agreement amongst the partners and are comparatively easy to start in comparison to LLP or Private ltd company to kick start the business formally. Read More On Our Blog.

Talk to a CA to know more!

Steps Involved

Step 1: Basic Information

Step 2: Draft of Partnership Deed

Step 3: Review & Changes

Step 4: Final Deed

Step 5: Application of PAN Card

Required Documents for Partnership Firm

For Unregistered Partnership Firm

A Partnership deed is formed on a suitable non-judicial stamp paper duly signed by each member of the firm. The same is required to be notarized by the notary and from that date Partnership Firm deemed to be registered.

For Registered Partnership Firm

Application for Registration in the prescribed Form – I.
.

Duly filled Specimen of Affidavit.
.

Certified copy of the Partnership deed on appropriate non-judicial stamp paper.

Proof of ownership of the place of business or the rental/lease agreement thereof.

Affix court fee stamp & payment of prescribed fee for registration by demand draft.

COMPARISON
Type Ideal For Minimum No. Of Members Tax Statutory Compliance Time Taken
Private Limited Company Startup and Small Entities 2 Directors 25 High 2 Weeks
Limited Liability Partnership Professionals 2 partners 30 Moderate 2 Weeks
Partnership Firm 2 Partners 2 Partners 30 Low 2 Weeks
One Person Company Sole Promoter 1 Director 30 High 2 Weeks
Sole Proprietorship Individual Individual 10-30 Low 1 Week