Partnership Registration


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Partnership Firm Registration in India

Partnership firm is one of the most popular forms of entity incorporation where two or more people form a business together and share the profits and losses. The registration of partnership is not mandatory but it is highly risky and not recommended by the department and professional experts. This kind of business registration is most suitable for small and medium size businesses as it is easy and economical to manage. Read to know the benefits, process, documents required and fees of partnership firm registration.


What is a Partnership firm?

Partnership firm is a business entity registered under the Partnership Act, 1932 where two or more people join together as partners for running & managing a business while sharing the profits and losses in an agreed ratio. Partnership firms can only be registered when the partnership deed is signed and accepted by all the partners of the firm.



What is a Partnership deed?

Partnership deed is an agreement between the partners in which all the terms and conditions related to business are incorporated. Some of the major terms and conditions mentioned in the deed of a partnership are



Details of the firm and partners

Profit and Loss sharing ratio among the partners

Nature, commencement and duration of partnership firm

Salary and commision of partners

Interest on capital and loan

Accounting and Auditing

Banking and Voting rights

Provisions related to capital introduction and capital withdrawal

Conditions for admission, resignation and retirement of partners

Benefits of Proprietorship Firm Registration

Minimal Compliances
Managing a partnership firm is very easy as there are no mandatory compliances of auditing for small businesses unlike a limited liability partnership or private limited company.
Cost Effective
Registering and maintaining a partnership firm does not require involvement of Digital Signature Certificate and Designated Partner Identification number which makes it more economical than other forms of businesses.
Easy to Start and Exit
Partnership can be registered only with a partnership deed and PAN Card of the firm. Hence, it is easy to start and exit.

Minimum requirements for Partnership registration

Minimum two partners
Partners should be the citizens of India
Address proof of business office

On average, it takes around 10-14 working days for registration of partnership firm in India subject to document verification by the concerned authorities.



Services We Provide

Here Are Some of Our Services

MSME

MSME registration stands for the micro small and medium enterprises registration.

IEC

It is a unique 10-digit code required by every business in India.

Startup

A Startup being a Private Limited Company or Limited Liability Partnership (LLP)

GST Reg with Return

A GSTIN is a “Unique Identification Number” given to a GST taxpayer.

Trademark

A trademark is a differentiating mark consists of a combination of words, symbols, or colors used to represent goods and services.

GeM Registration

Government e-Marketplace (GeM) is an online platform for public procurement.

Bookkeeping & Accounting

It involves preparing source documents for all transactions, operations, and other events of a business

FSSAI

which is a consolidating statute related to food safety and regulation in India.

Shop & Establishment Registration

which is a consolidating statute related to food safety and regulation in India.

ISO Certification

ISO is an international standard-setting body composed of representatives from various national standards

Partnership Registration

legal structure is most commonly used for the incorporation of a company

Limited Liability Partnership

legal structure is most commonly used for the incorporation of a company

One Person Company Registration

One Person Company (OPC) is functionally a company with only one shareholder as its member.

Private Limited incorporation

A Private Limited Company in India lies somewhere between a partnership firm and a widely owned public company.

Proprietorship Registration

Proprietorship is recognized by other registrations, such as a service or sales tax registration.

Digital Signature

GAM Private Limited is a Certifying Authority licensed by Controller of Certifying Authorities and caters to all kinds of subscribers who use Digital Certificates for MCA (ROC), GST, Income Tax, Tenders etc.