Partnership Firm Registration

@ just Rs. 5,000/- (all inclusive)

A partnership firm is a contractual agreement between two or more persons who join hands for mutual terms and conditions in order to run a business and gain profit from joint efforts. Members of the partnership firm are commonly known as Partners and the union of partners is called Partnership. Partnership firms are regulated by the Indian Partnership Act, 1932. The instrument on which mutual terms and conditions are written is called Partnership Deed. Partnership Deed is executed between partners to form a Partnership. The Indian Partnership Act, 1932, does not compulsorily require registration of partnership firms, but there are certain benefits if the partnership firm is registered. In other words, there is an option available with partners to get the firm registered or not.

 Features of partnership Firm are as follows:

  1. Minimum and Maximum Partners: There must be at least two partners but it can be maximum to 20. The maximum limit of 20 partners shall be reduced to 10 if the partnership firm is engaged in the Banking Business.
  2. Lawful Arrangement: Partnership is created by executing a Partnership deed in which every partner gives consent to terms and conditions mutually agreed in writing and every partner puts signature on partnership deed. By this arrangement, each partner is lawfully bound to other partners.
  3. Optional Registration: The Indian Partnership Act, 1932, does not compulsorily require registration of partnership firms but there are certain benefits if the partnership firm is registered. In other words, there is an option available with partners to get the firm registered or not.
  4. Allocation of gain and loss: Gain and loss are allocated between partners as mutually agreed in partnership deeds. If no such division of gain and loss is specified then it will be equally distributed between each partner.
  5. Limitless Liability: As a Partnership firm and partners are not considered or treated as separate persons, the losses or damages which a Partnership firm is liable to pay can be recovered from the partners in case assets of the firm are not enough to cover the losses.  
  6. Legal Standing of Firms: There is no legal standing of the firm as Partners are not treated separately from partnership firms.
  7. For Income Tax Purpose: For the purpose of Income tax, there is a separate method of taxation. That is, a partnership firm is taxed separately from its partners. However, profits earned from partnerships are exempted in the hands of partners because firms pay tax on profits earned at applicable rates.

Scope of work

eTaxClub.com can serve you to form a Partnership Firm. We will provide you following services in relation to forming a Partnership:

  • PAN Application
  • Drafting of Partnership Deed
  • Filing of deed and other documents with the Registrar of Firms Affidavit filing with the registration
  • Issue of Registration Certificate

 Our Partnership firm matters expert will make you understand the documents requirements and will keep you updated during the process of formation of partnership. If there is any confusion before starting a Partnership Firm then feel free to reach us for free consultation on this matter.


Simple Start

As there is no requirement for mandatory registration required, it can only be started by executing a written partnership deed.

Less Compliance

As there is a lot of compliances in case of a Private Limited Company LLP and OPC, there are not many compliances for a Partnership Firm. Therefore, starting a Partnership firm is a cost-effective method.

Restricted/Limited Liability

As discussed above, In case of any event in which company is liable to pay losses, then shareholders are only liable to pay to the extent of shares held by them

Capital Requirement

It is also basic condition of a Private Limited Company that it can be started with minimum capital of Rs. 1 lakh. This minimum capital is introduced by shareholders of the Company

Perpetual Succession

Perpetual succession means that members may come, members may go but company never dies until it is legally closed through Registrar of Companies

Tax Benefits

Recently, tax rates for corporate sector are lowered by the Government as compared to other business statues.

Documents Required

This is all we need from you

The following documents are required for the formation of the Partnership Firm:

  • Firm Name. It means the name of a partnership firm whose partners may mutually decide.
  • Address proof of place of business. Address proof of location from where the business of partnership shall be conducted is required. There can be more than one place of business.
  • Dates of joining of every partner.
  • Name and residential address of every partner is required.
  • Signed partnership deed. Partnership deeds must be signed by each partner.

Note: Documents requirement may differ for each state.

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After Successful payment, our team will call/mail/Whatsapp you and you have to Mail or Whatsapp the documents to us on the address provided.

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