Partnership Firm Registration
Register your business with bookmygst if you are a Joint Owner of your firm.
A partnership firm is formed when two or more people come together to carry out a business. The terms and conditions are decided by the partners which becomes a partnership deed. This deed forms the basis for managing relationship between partners and how the business affairs are conducted.
- Partnership Deed Drafting
- PAN Application
- Issue of Registration Certificate
- Deed filing and other documents with the Registrar of Firms
- Affidavit filing with the registra
For Small firms looking to using pool of resources shared by multiple people
- A group of minimum 2 people having a business idea
- Any existing Unregistered Partnership Firm
- Plan Purchase
- Session with bookmygst expert
- Upload Documents on Vault
- Partnership Deed drafting
- Application filing with registrar
- Receipt of registration certificate
Documents to be submitted
- Photo ID proof of partners
- Address proof of partners
- Ownership proof
- No objection certificate from the owner
- Rent agreement of your registered office
A partnership is where multiple people agree to carry out a business for profit. The partners carry out operations governed by the partnership deed. In a partnership firm the partners are jointly and Individually liable for debts of the firm.This form of arrangement is ideal in case there is less requirement of external funds with low risk of bad debts.
Partnerships are regulated by the Indian Partnership Act, 1932.
As per the act, registration is not mandatory but it’s recommended due to the following reasons.
In case a partner wants to file a case against each other, they can’t unless the firm is registered.
The unregistered business / partners can’t file a case against third party on breach of a contract but the third party can file a case.
In case of a dispute with a third party, the unregistered firm or any of its partners can’t claim a set off.
The name of a partnership firm must not include any words which indicate the assistance or the support of the government except the government that has given its written consent for the use of such words as part of the firm’s name.
A partnership firm can be registered at the time of its formation. The application for registration is to be made to the registrar of firms pertaining to the region where the business is located.
The government fees vary across states based on partner contribution.
The fee ranges from Rs. 1000 – 1500 along with stamp duty. You will b charged only on actual government fees.