For any partnership business, a minimum of two persons has to come together with the same business idea and policies. Agreement between them would be addressed as a Partnership Deed. You are also required to know that every state in India has varying stamp duty regarding partnership registration. So, you vitally have to comply with the terms and conditions of the location where you are supposed to start the business. Always keep in mind that rules and regulations for this sort of business are very strict therefore you essentially need experts to help in the best possible manner while complying with The Partnership Act, 1932. Proper registration and KYC (Know Your Customer) will automatically save you against different kinds of unpredictable blues.

How can I register my partnership firm?

Minimum Two Person

Two designated people are required to start a partnership firm. Maximum 20 people as partners are allowed (number limits to 10 for banking business).

No Minimum Capital

Minimum capital is not mentioned in any rule. It entirely depends upon the business requirement. Whereas stamp duty is based on the amount of capital.

NO FDI is allowed

Only Indians can start a partnership firm. It directly means any foreigner is not allowed to start this business. Read complete details before starting.

Unique Name for registration of partnership firm

Always choose a unique name for your business. Similarity with others might land you in a highly difficult position to compromise on several terms.

Partnership Registration Procedure

Step 1: Selection of Name for Partnership Registration

The name of the partnership firm must be unique. It should not show resemblance to the logo, trademark, or brand name to any existing partnership firm in any way. After procuring DSC and DIN, an application essentially has to be filed to ROC for name approval. Registrar possesses all the powers regarding approval of the name. In order to reduce the possibility of any kind of confusion while deciding the name, you can talk to our representatives.

Step2: Partnership Deed Drafting

Drafting for partnership deed requires expertise and intelligence therefore never try yourself if do not have enough knowledge of the field. As a matter of fact, partnership deed must consist of all terms and conditions with concise and precise words. According to the stipulated rules and regulations, everything will be cleared regarding capital, profit sharing, removal of partners, the inclusion of partners, salary, and many others.

Step 3: Partnership Deed Notarization

Always draft partnership deed with clear terms and conditions. Signatures of all partners are inevitable for the effective implementation of the deed. After signing the deed, everybody agrees to maintain the stipulated rules. In addition, it brings confidence among all partners to take the best foot forward in order to take the business forward as far as popularity and revenue are concerned.

Step4: Partnership Registration

According to the partnership act 1932, it is not mandatory to register the firm. But, section 59 imposes the limitations. As per this constraint, it is recommended to get the firm registered under the supervision of the registrar of the firm that too in a stipulated manner. During registration application filing, KYC of partners, copy of the deed, KYC of premises, a NOC from the owner essentially has to submit.

Step 5: PAN Card of the Firm

Income Tax Department of India allots Permanent Account Number (PAN). It consists of an alphanumeric number of up to 10 places. In order to get PAN for a partnership firm, you essentially have to submit Form No 49A to the concerned authority along with a copy of the partnership deed to get the PAN Card. It takes around a week’s time. Keep in mind that more time could be taken for further process.

Step 6: TAN Number Allotment

Every taxpayer is liable to deduct the tax while making transactions for any kind of business activity. Authority has set varying TDS rates ranging between 1-20%. TDS directly go to the Income Tax Department of India. In order to comply with TDS rules, every taxpayer essentially has to procure the Tax Deduction Account Number. It is also available with ITO.

List of Documents for Partnership Registration

1. Two Photograph of Each Partnership
2. PAN Card Copy of Partners
3. Identity Proof (Voter ID / Driving License/ Passport)
4. Address Proof (Bank Statement / Electricity, Mobile, Telephone Bill)
5. Proof of Registered Office
6. Utility Bill as Proof of Registered Address
7. NOC From the owner of the premises

Online Process | Avail Free Consultation

1. Partnership Deed Drafting
2. Partnership Deed Notarization
3. PAN Card & TAN Number
4. GST Registration

Start your Partnership Firm easily with our experience of 5+ years of delivering the best quality professional services. Our qualified team will help you to register your partnership firm across India. We will help in Documentation, Preparation, filing, and subsequent Follow-up with the registrar of firms.