Register Your Partnership firm with Bizhub
A Partnership is perhaps the foremost type of business association, where at least two individuals meet up to build a business and share the profits in an agreed proportion.
Drafting a deed
Execution of deed
A Partnership is perhaps the foremost type of business association, where at least two individuals meet up to build a business and share the profits in an agreed proportion. A Partnership firm is not difficult to form and has fewer compliances. A partnership company consists of two or more people (partners) who come together to do business, share profits and conduct business together under mutually agreed conditions. These companies are governed by the Indian Partnerships Act of 1932 Registering a Partnership is the right choice for small enterprises as the formation is straightforward and there are minimal regulatory compliances.
The Partnership Act has been in existence in India since 1932, making partnerships one of the oldest types of business entities in India. A partnership firm can even be registered after it is formed. There are as such no penalties for non-Registration of a Partnership firm. But unregistered Partnership firms are denied certain rights under section 69 of the Partnership Act that majorly deals with the effects of non-Registration of Partnership firms.
How to register Partnership Firms in India?
BizHub can help you register a partnership firm in less than seven days.
Documents Required to register a Partnership Firm
The application for the Partnership registration form must include the prescribed documents like the Identity proof, address proof, a real copy of the Partnership deed entered into and the proof of the principal place of business.
Any of the following documents can be submitted as identity proof and address proofs.
Proof of Business premise can be established by submitting the following documents:
What are the advantages of Partnership firm Registration?
Partnership firm registration has more advantages than disadvantages. Here, we have mentioned the advantages of Registering a Partnership firm.
FAQs On Partnership
A partnership firm is a business form in which two or more individuals manage and operate a business in accordance with the terms and objectives set in a Partnership Deed. This may or may not be registered.
A partnership must have at least two partners. A partnership firm in the banking business can have up to 10 partners, while those engaged in any other business can have 20 partners.
No, registration of a partnership is not necessary. However, for a partner to lodge a complaint or sue another partner or the firm itself, the partnership should be registered. Moreover, for the partnership to bring any suit to court, the firm should be registered. For small or family businesses, it is fine if a firm is not registered.
No, it is not mandatory to have a written Partnership agreement i.e. Partnership deed. However, it is always the best course to have a written document (partnership deed) instead of oral agreement.
Yes. The law presumes that each partner is an agent of the other and dealing in good faith with one partner binds the other partners as well.
Yes. The firm and all the partners are liable for the wrongful act or fraud which causes loss or injury to any third parties.
⦁ Photos of all Partners
⦁ PAN Card of all Partners
⦁ Aadhar Card of all Partners
⦁ PAN Card of the Partnership Firm
⦁ Proof of Constitution of Business (Partnership deed)
⦁ Proof of Principle place of business (Anyone – Electricity Bill/Rent or Lease agreement/Latest Bank Statement – Not less than 2 months old)
⦁ Letter of Authority in favour of any Partner
When the partnership deed does not contain any provision for the duration of the partnership nor conditions for the termination of the partnership, it is a partnership at will.
BizHub provides Partnership Registration all across India. You can obtain Partnership registration in Ahmedabad, Mumbai, Pune, Bangalore, Chennai, Delhi, Kolkata, Kanpur, Nagpur, Jaipur or any other cities easily with us.
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