PARTNERSHIP FIRM

A Partnership firm is a firm in which two parties come together to run the business jointly.

There can be minimum 2 partners and maximum 20 partners.

Benefits of Partnership firm:

  • Minimum amount of compliances to be carried out
  • Registration and incorporation of partnership firm is a fairly easier process
  • Cost effective

Documents required:

  • Name of the Partners with Age
  • Pan Card Numbers
  • Home Address
  • Registered Office Address
  • Capital Contribution
  • Explain Nature of Business in Detail
  • Profit/ Loss Sharing Ratio
  • Roles and Responsibilities
  • ID Proof: Self attested copy of Aadhaar card and PAN card mandatory
  • Passport size photos of partners
  • All the documents must be self-attested.

Procedure:

  • Draft Partnership deed by adding all terms and conditions agreed between both parties.
  • Notarize the Partnership deed with a Notary Advocate
  • Fill the online application form on the Government portal for registration of partnership firms by providing all documents
  • Payment of Registration fee on Government portal
  • Certificate of Registration will be issued by the Government after approving the Partnership firm details, payment etc.
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