Partnership Firm

Who Should Apply for Partnership Firm Registration?

✅ Two or More Business Partners — Ideal for entrepreneurs who want to start a business together with shared ownership, responsibilities, and profits.

✅ Small & Medium Businesses — Perfect for small enterprises that don’t need complex structures like Private Limited or LLP, but still want legal recognition.

✅ Family Businesses & Friends Ventures — Suitable for groups of friends or family members running a joint business with clear profit-sharing terms.

✅ Existing Unregistered Firms — Businesses already operating without formal registration can register as a partnership firm to gain credibility and legal protection.

✅ Professional & Service Providers — Consultants, agencies, traders, and service-based firms who wish to operate under a shared brand name and partnership deed.

Process

1️⃣ Initial Consultation & Eligibility Check:
Provide your partner details and business idea. Our experts will help you confirm eligibility and explain the suitable type of partnership firm (registered or unregistered).

2️⃣ Drafting the Partnership Deed:
We prepare a legally valid partnership deed outlining partner names, capital contribution, profit-sharing ratio, and firm rules as per the Indian Partnership Act, 1932.

3️⃣ Document Submission:
Submit scanned copies of partner IDs, address proof, business address documents, and passport-size photos for verification.

4️⃣ Application Filing & Registration:
After verification, our team will file your Partnership Firm Registration with the concerned Registrar of Firms (if required) and provide acknowledgment.

5️⃣ Certificate & Follow-Up:
You’ll receive your Registered Partnership Deed along with consultation on applying for PAN, bank account opening, and MSME/GST registrations if needed.

Estimated Processing Time

🕒 2–4 Working Days: Standard processing for most partnership firm registrations.
🕒 Same Day Deed Drafting: Available for priority service.

Documents Required (Scanned Copies or Photos)

📄 Aadhaar Card and PAN Card of all Partners
📜 Partnership Deed Details — Firm name, business nature, capital, and profit ratio
📍 Business Address Proof — Electricity Bill / Rent Agreement / Property Tax Receipt
📱 Email ID & Mobile Number of Partners
🧾 Passport-Size Photos of all Partners
📑 NOC from Owner / Landlord (if the business place is rented)
📄 GST or Other Registration Proof (if applicable)

Frequently Asked Questions (FAQ) —

1️⃣ What is a Partnership Firm?
A Partnership Firm is a business structure where two or more individuals come together to run a business and share profits according to a mutually agreed Partnership Deed. It operates under the Indian Partnership Act, 1932 and is one of the simplest ways to start a joint business in India.

2️⃣ How many partners are required to start a Partnership Firm?
A minimum of two partners are required to start a partnership firm. There is no maximum limit prescribed for unregistered firms, but a registered firm can have up to 20 partners (10 for banking businesses).

3️⃣ Is it mandatory to register a Partnership Firm?
Registration of a partnership firm is not mandatory but highly recommended. A registered firm gets legal recognition, can file cases in court, and easily open bank accounts, apply for tenders, and get loans.

4️⃣ What is a Partnership Deed?
A Partnership Deed is a legal agreement between partners that defines the terms and conditions of the partnership — such as business name, capital contribution, profit-sharing ratio, partner duties, and rules for admission or retirement of partners.

5️⃣ Can a Partnership Firm be converted into an LLP or Private Limited Company?
Yes. A Partnership Firm can be converted into an LLP or Private Limited Company later for better liability protection, investment opportunities, and corporate recognition.

6️⃣ What are the main advantages of registering a Partnership Firm?
✔ Simple and low-cost registration
✔ Shared responsibility and decision-making
✔ Flexible business structure
✔ Easy to start and dissolve
✔ Legal recognition and credibility with banks, vendors, and clients

7️⃣ What are the taxes applicable to a Partnership Firm?
A Partnership Firm is taxed as a separate legal entity under the Income Tax Act. The current tax rate is 30% plus surcharge and cess, and partners are taxed on their individual income from the firm.

8️⃣ Can a Partnership Firm open a bank account?
Yes. A registered Partnership Firm can open a current bank account in the firm’s name using the Partnership Deed, PAN card, and registration proof.

9️⃣ How long does it take to register a Partnership Firm?
Normally, it takes 2–4 working days to prepare the deed and complete registration, depending on document accuracy and Registrar approval timelines.

9️⃣ What documents are required for Partnership Firm Registration?
You’ll need:

• Aadhaar and PAN of all partners

• Business address proof (Rent Agreement / Electricity Bill)

• Passport-size photos of partners

• Partnership Deed details

• NOC from landlord (if rented premises)