A partnership is the easiest way of business for multiple owners. The partnership firm registration can be done on the same day. Open a bank account, apply for a PAN, and get your partnership deed the same day. We will help you at all stages.
Legal & Secure Partnership Firm Registration Online
Perks of Availing of the Partnership Firm Registration Service
Easily Incorporated
Compared to the other business types, partnership registration is the simplest. Partnership agreements and partnership deeds can be drafted and entered into to incorporate a partnership firm.
There are no other documents required besides the partnership deed. The Registrar of Firms registration is not even necessary. It is possible to incorporate and register a partnership firm later since registration is voluntary.
Fewer Compliances
Compared to an LLP company, a partnership firm is free from adhering to many compliances. You do not require a DSC or DIN, which is a must in an LLP. the partners can easily make amendments.
The registration can be done quickly and is also cost-effective, unlike an LLP firm. Furthermore, the dissolution is also straightforward without involving any complex procedures.
Quick Decision
Since ownership and management do not differ, a partnership firm’s decision-making process is quick. The partners make all the decisions together, and they can be implemented right away.
The firm’s partners are empowered to perform a wide range of activities on behalf of the company. It is even possible for them to carry out certain transactions without the consent of the other partners of the partnership firm.
Profit & Loss Sharing
The profit & loss of the company is equally distributed among the partners. In partnership firms, they can even determine the profit and loss ratios, returns & turnover depending on their work, and they maintain an intent of ownership and accountability.
They will be equally liable for the firm’s losses or according to the partnership deed ratio, thereby reducing the burden of an individual or when the partnership suffers a loss. The company’s activities are liable jointly and severally to them.
Hassle-Free Process for Your Partnership Deed Registration
Documentation
First, it starts with the partner documentation and their addresses. We require the documents mentioned below for a partnership company registration. Please ensure that they are credible. After that, fill out our form, and you can quote us on that.
Firm Name
Select a unique & expansive business name that refers to the commercial activities of your firm. Avoid picking a name that is the same as an existing firm or a registered trademark. Trademark the name you choose to avoid getting exploited.
Drafting of Partnership Deed
The partnership consent is the basic document that is proof of the company constitution. The partnership contract has to cover essential agreements that define the responsibilities that are shared among the partners.
The document also consists of the capital profit-sharing proportions and the method of running the firm. Our proficient lawyers will assist with drafting the partnership deeply.
Stamp Duty & Notary of Partnership Deed
All partners must sign the partnership agreement in the presence of a notary and two witnesses after it has been drafted. Once the document has been stamped by the notary, it becomes valid and legal.
A notary’s fee and stamp duty must be paid in addition to the cost of the stamp paper on which the deed is written. In addition, the amount of these fees varies in different states and is subject to the authorized capital of the firm.
PAN Card & TAN of Firm
The PAN card partnership firm is issued in Form No. 49A. The same for TAN is filled in Form No. 49B. Both are necessary for partnership firm registration online, as a PAN card is required for income tax compliance, while a TAN card is for business tax purposes.
GST Registration
GST is a tax applied to purchasing goods or services in India. To carry out GST compliances, it is required for the firm to register under the GST Act.
Partnership Company Registration Online with ROF
Even though partnership firms have the option of registering, Section 69 of the Partnership Act outlines the risks associated with not registering. No amount exceeding Rs.100 can be recovered from third parties by an unregistered firm.
In addition, it cannot take advantage of government initiatives and schemes meant for small businesses.
Documents Required for Partnership Firm Registration in India
Photographs
Two colored photographs of all the partners involved are required.
PAN Card
The PAN cards of all the partners are required.
Identity Proof
All the partners are required to provide either a Driving License, Voter ID, Passport, or Aadhar card.
Address Proof
The partners have to provide proof of address in the form of either an Electricity Bill or a bank statement. The statement should not exceed 2 months old.
Stamped Rent Agreement
The stamped & notarized rent agreement of the registered firm address is required.
Address Proof of Registered Office
Provide anything from the electricity bill, water bill or telephone bill of the registered office. It should not exceed 2 months old.
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