Partnership Firm Registration Fees starts @ ₹4,999/
Partnership firm registration formalizes a business partnership, providing legal recognition, structured agreements, and benefits like taxation and credibility.
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Partnership Firm Overview
A partnership firm is a business structure where two or more individuals come together to operate a business and share its profits and losses as per an agreed ratio. Governed by the Indian Partnership Act, 1932, it operates through a partnership deed, outlining roles, responsibilities, capital contributions, and profit-sharing arrangements. Partnerships offer simplicity in setup, minimal compliance, and shared decision-making, making them ideal for small businesses. However, partners have unlimited liability, meaning personal assets can be used to settle business debts. While easy to manage, partnerships lack the perpetual succession and limited liability benefits of a private limited company.
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DOCUMENTS REQUIRED FOR PARTNERSHIP FIRM REGISTRATION
The following documents are needed for registering a Partnership Firm in India:
- Application Form 1.
- Copy of Partnership Deed.
- Registered document of the property.
- Valid ID proof.
- Passport.
- Driving License.
- Rent Agreement.
- House tax receipt.
MINIMUM REQUIREMENTS FOR PARTNERSHIP FIRM REGISTRATION
- Minimum 2 Partners are required
- Valid ID proof of partners.
- Agreement between Partners
- Partnership deed(Contract/Agreement).
FAQ ON PARTNERSHI FIRM REGISTRATION
A partnership firm is a business structure where two or more individuals manage and operate a business as per an agreed-upon partnership deed.
Any individual who is a resident of India and has been in the country for at least 120 days in the preceding financial year can register an OPC. The person must also be 18 years or older.
No, registration is not mandatory under the Indian Partnership Act, 1932, but an unregistered firm cannot enforce its rights in a court of law.
Documents include the partnership deed, PAN cards of partners, address proof of the firm (rental agreement or utility bill), and IDs of all partners.
It is a legal document outlining the terms, conditions, and profit-sharing ratios agreed upon by all partners.
Yes, an OPC can be converted into a private limited or public limited company after meeting specific criteria, such as crossing an annual turnover of ₹2 crores or having a paid-up capital exceeding ₹50 lakhs.
Registration typically takes 7-10 working days, depending on state-specific procedures.
Yes, it can be converted into a private limited company or LLP by following the prescribed legal process.
Registration ensures legal recognition, enables the firm to enforce agreements in court, and provides credibility with stakeholders.
