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PARTNERSHIP FIRM REGISTRATION; REGISTRATION

GET YOUR PARTNERSHIP FIRM REGISTERED FROM ONE OF THE TOP ONLINE PLATFORM

STARTING AT RS. 2499/-

WHAT IS PARTNERSHIP FIRM REGISTRATION??

A Partnership firm registration is one of the simplest business structure where two or more people come together to manage a business in accordance with the terms set out in the partnership deed. It is very easy to register and is preferred among any other small and medium sized business due to lesser compliances.

There are two types of Partnership firm: registered and unregistered partnership firm. It is not necessary to register a partnership firm but it is suggested to register the same as registered firm has more advantages over unregistered firm.

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BENEFITS OF REGISTERING A PARTNERSHIP FIRM

  1. BEST FOR SMALL AND MEDIUM BUSINESSES
    It is best for small and medium type of businesses managed by two or more people due to tax benefits and minimal compliances.
  2. EASY TO START
    It is easy to start a partnership firm as it is not necessary to register a deed. Once a deed is drafted, you can initiate your business.
  3. AVOID CONFLICTS
    A Partnership deed helps to avoid conflicts that may arise between partners as all the terms and conditions are clearly set down in the deed itself.
  4. EASY TO GET NAME
    It is easy to get name of partnership firm unlike in case of Company or LLP which is one of the its main benefit.
  5. LESSER COST
    It is inexpensive to operate a partnership firm due to lower formalities which makes it easier to remain active.

FEATURES OF REGISTERING A PARTNERSHIP FIRM

  1. Minimum number of two or more partners are required to form a partnership firm
  2. Liability of the partners shall be unlimited unlike Limited Liability Partnership (LLP)
  3. Easy to form as partnership deed registration with registrar is optional
  4. Duties and liabilities are shared among all the partners
  5. Once a deed is registered and accepted by registrar, It legally bind all the partners to comply with the terms of deed.

PARTNERSHIP REGISTRATION PACKAGE

  • BASIC PACKAGE
  • INR 2499

  • GST REGISTRATION

    DEED DRAFTING

    PAN AND TAN

    ACCOUNT OPENING ASSISTANCE

     

     

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  • STANDARD PACKAGE
  • INR 4999

  • GST REGISTRATION

    DEED DRAFTING

    DEED REGISTERED WITH REGISTRAR

    PAN AND TAN

    ACCOUNT OPENING ASSISTANCE

     

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  • DIAMOND PACKAGE
  • INR 10999

  • GST REGISTRATION

    DEED DRAFTING

    PAN AND TAN

    SME REGISTRATION

    TRADEMARK REGISTRATION

    TRADE/S & E LICENSE

    ACCOUNT OPENING ASSISTANCE

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  • ANNUAL PACKAGE
  • INR 13999

  • BOOKKEEPING SERVICES

    1 YEAR GSTRETURN FILING

    ITR FILING OF FIRM AND ANY TWO PARTNERS

     

     

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CONSEQUENCES OF NON-REGISTERING A DEED FROM REGISTRAR

If a partnership deed is not registered from registrar then any of the partner whose name is written in deed can not enforce its rights given under Indian Partnership Act, 1932. Further, if the third party sue the firm then an unregistered firmcannot claim anything in return.

  1. Filled application for partnership firm in prescribed format along with affidavit (to be drafted by eproexpress team) duly signed by all the partners.Remove this line
  2. Self-Attested copy of PAN Card and Aadhaar Card of all the partners.
  3. For Registered Office: Latest electricity bill/water bill of the place where the registered office of the Company shall be situated along with NOC from owner and rent agreement (if premises are rented)
  4. Following details are required for drafting of Partnership deed which shall be done by eproexpress team:
    • Name of the firm
    • Business activity of the firm
    • Complete address of the place where the registered office of the firm shall be situated
    • Details of any other place where business of the firm shall be carried out.
    • Total capital of the firm
    • Contribution of all the partners
    • Profit sharing ratio of each partner
    • Salary payable to each partner
    • Duties and Rights of each partner
    • Date of execution of the deed
    • Any other condition as mutually decided

PROCEDURE FOR REGISTRATION OF PARTNERSHIP FIRM

  1. Selection of firm name
  2. Drafting of deed stating all the terms and conditions
  3. Submission of all the requisite documents to the respective registrar of firms of the state along with the prescribed fees which may vary from state to state.
  4. Apply for PAN Card of the firm from Income Tax department and open a bank account in the name of the firm once the deed is registered and Certificate of Registration is issued by respective registrar of state.

POST INCORPORATION REQUIREMENTS IN CASE OF PARTNERSHIP FIRM

  1. IPR REGISTRATION
    Once the firm is registered, one can register under IPR which includes Trademark, Patent and copyright.
    After registering under IPR, a business of the firm shall be protected from its competitors.
  1. PRINTING OF NAME PLATE AND LETTERHEADS
    After registration, name plate and letterheads of the firm shall be printed. The name plate and letter should include the following:
    • Name of the firm
    • Complete address of the firm
    • Email ID and Phone Number of the firm
  1. GST REGISTRATION
    GST Registration is required for business whose annual turnover exceeds INR 40 Lakhs. Also, if the turnover of the business is less than INR 40 Lakhs then one can obtain voluntary GST registration.
  2. OBTAIN PAN CARD AND TAN CARD
    PAN and TAN shall be applied to Income tax department In the name of the firm.

FREQUENTLY ASKED QUESTIONS (FAQS)

What is a partnership firm??

A partnership firm is a firm registered by two or more persons who have agreed to share the profits generated or loss incurred in the firm.

How many partners are required to start a Partnership firm??

Two or more partners are required to start a partnership firm

How much capital is required to start a partnership firm??

There is no limit on maximum or minimum capital required to start a firm. Hence, a firm can be started with any amount of capital.

 

What does partnership deed contain??

A partnership deed should contain the following content which includes name of the firm, complete address of registered office, date of execution of deed, name and address of all the partners, detail of business activity in detail, amount of capital to be contributed by each partner, profit sharing ratio along with rules and regulations of the firm to be followed by each partner.

How can we help in partnership firm registration??

Eproexpress can help you in partnership firm registration in 2-4 working days subject to processing time taken by respective department.

Who is eligibility to become a partner in firm??

A partner who is Indian citizen and a Resident of India is eligible to become a partner in firm.

How to open a bank account in the name of partnership firm??

To open a bank account in the name of firm, a registered partnership deed along with ID and address proof of all the partners have to be submitted to the bank.

Does the partnership firm have separate legal entity??

No, the partnership firm does not have a its own existence. It is operated under the legal name of its partners.

Does the partnership firm have a registration certificate??

If the firm is registered with the registrar of firm then only a firm will have registration certificate issued by registrar otherwise a deed duly executed on a non-judicial stamp paper is sufficient.

Is Audit compulsory for partnership firm??

No it is not necessary to prepare and submit audited accounts if the turnover is upto specific limit.

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