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Partnership Firm Registration

Partnership Firm registration is sought after by businesspeople who prefer a modern business structure that is managed and controlled by a group of people for profit. Due to its inexpensive nature and limited compliance, a Partnership Firm is a lucrative option for a home-run business. It can be both registered as well as unregistered. However, people choose to incorporate a Limited Liability Partnership Firm over a Partnership Firm as the latter poses unlimited liability on the partners. We at Startup Choice will help you with in the registration process by drafting the deed and carrying out required registered compliances.

Procedure for Partnership Firm Registration (30 Days)

We will get in touch with you after you have shared your request and get a clear comprehension of your needs.

Understanding Business Requirements

Types of Partnership Firms

Two Types Of Partnership Firms

Step involves creating a Permanent Account Number (PAN) and Tax Account Number (TAN) for your company.

PAN & TAN

Registration process completed

Done

  • Identity proof (PAN card), and in case of a foreign national (passport)
  • Address proof of all partners (Passport / Driver’s License / Voter's ID)
  • Passport size Photographs of all partners
  • Proof of place of business
  • Drafting the deed

Advantages of Setting Up a Partnership Firm Registration :

  • Reduced compliances
  • Easy set-up
  • Comparatively less expensive
  • More flexibility regarding company name
  • Annual Filing optional

There is a minimum requirement of two partners and a maximum of 20 partners to start a Partnership Firm.

There is no such requirement of minimum capital in registration of a Partnership Firm.

The Registrar of Firms under Indian Partnership Act, 1932, registers Partnership Firms.

Yes. The death of a partner automatically dissolves the Partnership Firm. It is, however, usual for the partnership deed to provide beforehand that the firm should continue in spite of death, retirement or insolvency of a partner.

A Partnership Firm cannot become a partner of another firm because it is not a legal person but a partner of such firm can be a partner in his individual capacity in another firm.

It is not compulsory to register a Partnership Firm, however, it is advisable to register the Partnership Firm in order to avoid conflicts and future disputes.

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