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Partnership Firm Registration

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Why Should I Use Auriga Accounting For Partnership Firm Registration?

Auriga Accounting has a team of registration experts who can provide complete guidance to register your Partnership Firm.

book appointment

Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for registration

Complete your registration

Your Partnership Firm is registered

Why Should I Use Auriga Accounting For Partnership Firm Registration?

Auriga Accounting has a team of registration experts who can provide complete guidance to register your Partnership Firm.

book appointment

Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for registration

Complete your registration

Your Partnership Firm is registered

Partnership Firm Registration in India - online process ,fees , Documents Required

Partnership firms entail shared ownership and liability among partners, while private limited companies have separate legal identities and limited liability for shareholders. Limited Liability Partnerships (LLPs) combine features of partnerships and companies, providing limited liability to partners with flexible management. One Person Companies (OPCs) allow single ownership with limited liability, unlike sole proprietorships where the owner bears unlimited liability. Each business form has distinct advantages and compliance requirements, catering to varying needs of entrepreneurs and businesses, from shared responsibility in partnerships to single ownership with limited liability in OPCs and LLPs, and separate legal identity in private limited companies.

What is Partnership Firm ?

A partnership firm is a type of business structure where two or more individuals come together to carry out a business with a shared objective of profit. Partnerships are typically based on a written or oral agreement outlining the terms of the partnership, including profit-sharing, decision-making, and responsibilities. In a partnership, each partner contributes capital, skills, or resources to the business and shares in its profits and losses. Partnerships can vary in size and scope, from small businesses like local shops to larger professional services firms such as law or accounting partnerships.

What is Indian Partnership Act ?

The Indian Partnership Act of 1932 governs the formation and operation of partnerships in India. It defines a partnership as the relation between persons who have agreed to share profits from a business carried on by all or any of them acting for all. The Act lays down rules regarding the rights, duties, and liabilities of partners, as well as the dissolution and settlement of partnership affairs. It covers various aspects such as registration, partnership agreements, admission and retirement of partners, conduct of business, and resolution of disputes, providing a legal framework to govern partnerships in the country.

Eligibility For Partnership Firm Registration

Mutual Agreement: Partners must mutually agree to form the partnership and conduct business together.

Legal Capacity: Each partner must have the legal capacity to enter into a contract, which usually means being of sound mind and not a minor.

Consent of All Partners: All existing partners must agree to admit a new partner into the firm.

Contribution: Partners must contribute to the partnership either financially, through capital investment, or through skills, labor, or property.

Good Faith: Partners are expected to act in good faith, honestly, and in the best interest of the partnership.

No Legal Disqualifications: Partners should not have any legal disqualifications, such as being declared bankrupt or convicted of certain offenses, which could affect their ability to participate in the partnership.

Eligibility For Partnership Firm Registration

Advantages For Partnership Firm Registration

  • Easy formation: Partnership firms can be formed with relative ease and minimal legal formalities. While it is recommended to have a written partnership deed, even an oral agreement can create a valid partnership.
  • Shared resources and expertise: Partnership firms allow for pooling of financial resources, skills, and expertise of the partners. This shared investment and knowledge can help in the growth and success of the business.
  • Flexibility in decision-making: Partnerships offer flexibility in decision-making as all partners have the right to participate in the management and decision-making processes. This allows for quick decision-making and adaptability to changing business conditions.
  • Division of profits and losses: The Partnership Act provides guidelines for the distribution of profits and losses among the partners. Partners can agree upon profit-sharing ratios based on their contributions and efforts, promoting fairness and transparency.
  • Taxation benefits: Partnership firms enjoy tax advantages compared to certain other forms of business entities. The firm itself is not taxed; instead, the partners are individually taxed based on their share of profits, which may be advantageous .
  • Joint liability: Partners in a partnership firm have joint and several liability, meaning they share the responsibility for the firm’s debts and obligations. This joint liability can provide a sense of security to creditors and may make it easier to secure financing for the business.
  • Continuity and succession: The Partnership Act allows for the partnership to continue even in the event of the death, retirement, or withdrawal of a partner. The remaining partners can continue the business by entering into a new partnership agreement or making necessary adjustments.
  • Confidentiality: Unlike public companies, partnership firms are not required to disclose their financial statements or other confidential information to the public. This provides privacy and confidentiality for the partners and their business operations.


Advantages For Partnership Firm Registration

Documents Required for Partnership Firm Registration

  • Scanned copy of PAN card or passport (foreign nationals & NRIs)
  • Scanned copy of voter ID/Aadhar Card/ Driving Licenses
  • Scanned copy of the latest bank statement
  • Scanned copy of the electricity or gas bill
  • Scanned passport-sized photograph specimen signature (blank document with signature ( Partners only)
Documents Required For Partnership Firm Registration

Process for Partnership Firm Registration

  • Select a name: Choose a unique name for your partnership firm that does not infringe upon any existing trademarks or business names. Ensure that the chosen name does not violate any rules or guidelines set by the local authority.
  • Prepare a partnership deed: Draft a partnership deed that outlines the terms and conditions of the partnership. The deed should include details such as the firm’s name, nature of business, names and addresses of partners, capital contributions, profit-sharing ratios, decision-making processes, and rights and responsibilities of the partners.
  • Stamp duty: Purchase the necessary stamp paper(s) of appropriate value as per the stamp duty rates prescribed by your state government. The partnership deed should be written on the stamp paper.
  • Notarization: Get the partnership deed notarized by a notary public. The notary public will verify the identities of the partners and witness the signing of the partnership deed.
  • Application for registration: Prepare an application for registration of the partnership firm. The application should include the following information
    1. Name of the firm
    2. Location of the firm’s principal place of business
    3. Names and addresses of all partners
    4. Date of commencement of the partnership
    5. Duration of the partnership, if it is a fixed-term partnership
  • Submission of documents: Submit the following documents along with the application for registration:

    1. Partnership deed on stamp paper
    2. Application for registration
    3. Affidavit stating the partnership details
    4. Proof of address (such as utility bills, lease agreement, etc.) for the principal place of business
    5. Copies of identity proofs of partners (such as Aadhaar card, PAN card, passport, etc.)
  • Payment of fees: Pay the prescribed registration fees as per the rules of the respective Registrar of Firms. The fee amount may vary depending on the capital of the partnership.
  • Registrar of Firms: Submit the application, partnership deed, and supporting documents to the Registrar of Firms in your jurisdiction. The Registrar will verify the documents and records and issue a Certificate of Registration.
Process For Partnership Firm Registration

Compliances for Partnership Firm Registration

  • Tax compliances: Partnership firms are typically required to fulfill various tax-related compliances, including obtaining a Permanent Account Number (PAN), filing income tax returns, and paying income tax as per the applicable tax laws. Partners may also need to comply with goods and services tax (GST) obligations, if applicable.
  • Record-keeping: Maintain proper books of accounts, including records of income, expenses, assets, liabilities, and other financial transactions. Partnership firms should also maintain records of meetings, decisions, and any changes in the partnership agreement.

  • Compliance with other applicable laws: Partnership firms must comply with various laws and regulations that are applicable to their specific industry or business activities. These may include labor laws, environmental regulations, licensing requirements, and any other industry-specific regulations.

  • Compliance with other applicable laws: Partnership firms must comply with various laws and regulations that are applicable to their specific industry or business activities. These may include labor laws, environmental regulations, licensing requirements, and any other industry-specific regulations.

Reasonable Price for Filling Partnership Firm Registration

Auriga Accounting Private Limited in India provides Company Registration at a reasonable price or if  Partnership Firm Registration from us then we give you a special discount.  Our services are value for money and you never paid a penalty. Our clients are all over India i.e., Chhattisgarh, Assam, Maharashtra, Uttar Pradesh, Delhi, Madhya Pradesh, Bihar, and many other states, and they are very happy with us.  We also give you time-to-time updates with full transparency.



Government fees ( Stamp Duty)

₹ 2,000

Professional Fee

₹ 8,999

Total cost

₹ 10,999


AURIGA Accounting, known for its efficiency and reliability, simplifies the registration process for partnership firms. With intuitive software and expert guidance, AURIGA ensures seamless documentation and submission of necessary forms, such as partnership deeds and registrations with authorities. Its user-friendly interface streamlines the process, saving time and reducing errors. AURIGA’s comprehensive approach covers all aspects of partnership firm registration, including compliance with legal requirements and tax regulations. By choosing AURIGA Accounting, partners can embark on their business journey with confidence, knowing that their registration process is handled with professionalism and precision.

Auriga Accounting Private Limited is always with you we give the best advice related to sole Proprietorship. If our guidance is helpful to you then we are always thankful. Our services are very fast. Our team Communicate with all our clients personally. And solve their problem which related to accounting.

Frequently Asked Questions (FAQs)

To register a partnership firm in India, you need several documents, including:
1. Application for Registration (Form 1).
2. A duly signed and notarized Partnership Deed.
3. Proof of the principal place of business (like rent agreement or property documents).
4. ID and Address proof of all partners.
5. Affidavit stating the willingness of the partners. Please consult a legal advisor for comprehensive information.

Yes, a partnership firm can be converted into a company in India. This is governed by Section 366 of the Companies Act, 2013. There are specific procedures and requirements to be followed for the conversion.

Yes, An audit is mandatory for all partnership firms in India. As per the Income Tax Act, only those firms whose turnover exceeds ₹1 crore in case of a business, or ₹50 lakhs in case of a profession, during a financial year need to get their accounts audited.

No, the preparation of a Partnership Deed is not compulsory for registering a partnership firm. It is a document that outlines the rights, duties, and responsibilities of each partner and the terms of the partnership. But it is recommended to draft a deed. Get in touch with our legal experts today!

The timeline can vary, get in touch with our expert and get basic legal advice.

Converting a partnership into a private company involves several steps:
1. Obtain No Objection Certificate (NOC) from the secure creditors, if any.
2. Apply for the Director Identification Numbers (DIN) for all partners.
3. Apply for the Digital Signature Certificate (DSC) for all partners.
4. File Form URC-1 with the Registrar of Companies.
5. Submit all necessary documents (like the Partnership Deed, Statement of Accounts, etc.).
6. Once approved, the Registrar of Companies will issue a Certificate of Incorporation, which signifies the completion of the conversion. Consult our compliance expert today!

To formalise a partnership firm in Tamil Nadu, specific prerequisites must be met:
Minimum Number of Partners: The formation of a partnership requires a minimum of two partners.
Drafting a Partnership Deed: The partners are obligated to prepare a partnership deed, which delineates the terms and conditions of their cooperation.
Partnership Deed Stamping and Notarization: It is crucial to have the partnership deed stamped and notarized, signifying its legal validation.
Obtaining a Permanent Account Number (PAN): The partners must secure a PAN for the firm, which serves as its unique tax identification.
Additionally, certain necessary documents are required from the partners. These include:

  • PAN Card
  • Aadhaar Card
  • Driver’s License
  • Passport
  • Voter ID
  • Sale deed (in case a partner owns the premises)
  • Rental agreement copy (if the property is rented)
  • Latest electricity bill (not more than 3 months old)

These prerequisites and documents collectively enable the formal registration of a partnership firm in Tamil Nadu, ensuring it functions within the legal framework

Yes, a partnership firm registered in Delhi can operate in other states as well. However, if you plan to establish branch offices or carry out business activities extensively in other states, you may need to comply with additional requirements, such as obtaining necessary licenses or registrations specific to those states.

The stamp duty for partnership deeds in Haryana is generally a fixed fee of INR 1,000, regardless of the amount of capital involved in the partnership. However, rules and rates can change, and the stamp duty can vary based on factors like the nature of the partnership, the total capital involved, and other specific details.

To register a partnership firm in Madhya Pradesh, the following criteria must be met:

  • The firm must have at least two partners.
  • The partners must be competent to contract.
  • The partners must agree to share profits and losses.
  • The firm's business must be lawful.

Partners should retain a copy of the partnership deed. According to the Andhra Pradesh Partnership (Registration of Firms) Rules, 1957, partners are required to download and complete Form-1. This form is to be submitted in conjunction with the registration application to the Registrar of Firms. Form-1 can be found appended at the conclusion of the aforementioned Rules.

Non-registration of a partnership firm can result in various consequences such as the firm cannot sue or file a case against third parties or partners, partners cannot sue each other, and the firm cannot claim setoff in a dispute. The firm may also face difficulties in obtaining loans or raising capital.

The partnership firm registration number is a unique identification number allotted to a registered partnership firm by the Registrar of Firms. It is used to identify the partnership firm for various purposes.

Yes, filing income tax returns is required for partnership firms. Annually, income tax returns must be submitted by the Income Tax Department's deadline.

Yes, a person can transfer to a partnership firm by becoming a partner. The transfer process involves signing the partnership deed, contributing capital, and obtaining the consent of all the partners.

It is a legal document that outlines all the terms and conditions on which the partnership firm functions. It also provides clear cut information on the total number of partners. It includes the name of the firm, the name and addresses of the partners, the capital contribution of each partner, profit-sharing ratios, rules for admission and retirement of partners, and dissolution procedures.

A partnership deed is necessary to avoid any disputes among the partners and to establish a clear understanding of the roles and responsibilities of each partner. It also helps to protect the interests of the partners in the event of disputes or dissolution of the partnership.

The transfer to a partnership firm involves signing the partnership deed, contributing capital, and obtaining the consent of all the partners. The transfer process may also require the transfer or to fulfil other obligations under the partnership deed and the law.

Yes, a partnership firm can be converted into a Company or LLP (Limited Liability Partnership) by following the necessary legal formalities and procedures as per the Companies Act, 2013 or LLP Act, 2008.

The following paperwork is typically needed to open a bank account for a partnership firm:

  • Deed of partnership
  • Address on the PAN card for the partnership firm
  • Evidence of the partnership
  • Company ID evidence of each partner's participation
  • Partnership business registration document (if registered)
  • GST registration document (if applicable)
  • All partners' KYC records
  • Board decision approving a partner's opening a bank account
  • A pair of passport-sized images of each partner.

A minimum of two partners is required to form a partnership firm.

Any individual or entity capable of entering into a contract can become a partner in a partnership firm.

There is no minimum capital requirement for a partnership firm.

A partnership firm is liable for audit if its turnover exceeds ₹1 crore in a financial year.

Factors to consider before forming a partnership include mutual trust, understanding, complementary skills, and shared goals.

To prepare a partnership balance sheet, the assets, liabilities, and capital of the partnership are listed and balanced.

Partnership registration number is a unique identification number assigned to a partnership firm upon registration with the registrar of firms.

Yes, it is compulsory for a partnership firm to file income tax returns.

The income tax of a partnership is calculated on the basis of its total income, which is divided among the partners as per their profit-sharing ratio.

The rate of taxation for a partnership firm is the same as that for an individual taxpayer, based on the applicable income tax slab rates.

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