Partnership Firm

ALL INCLUSIVE FEE RS. 5000 ONLY

Package Inclusion :

  • Drafting of Partnership Deed 
  • Stamp Duty & Notary Exp.
  • PAN & TAN of Partnership 

 

Partnership Firm

A Partnership is a small business structure under which people can make an association where they are ready to share the profit and the losses those are going to be held in the firm in proportion to the ratios fixed in correspondence with the capital they brought along with them in the firm. However, hitherto, it used to be treated as belonging to the unorganized sector. Now with the implementation of the Limited liability partnership Act. 2008 it has reached the strata of organized sector since LLP is the hybrid form of company which is having the attributes of not only the Partnership firm but also the company, therefore, nowadays people prefer to register their business As LLP. Due to having the attributes of both the company and the partnership firm, the unlimited liability of partners in the general partnership business can be converted into the limited one in the case of LLP Firm; there is no legal implication towards the registrar i.e. ROC in case of having a Partnership Firm registration, on the contrary in case of LLP it does so. It will suffice to have the partnership deed, PAN, and earlier it used to be VAT / Service tax registration, nowadays‘ GST registration’ to incorporate a Partnership firm.

Document Required for Registration of Partnership Firm

Documents Required From Partners
  • Scan Copy PAN Card 
  • Scan Copy Voter's ID/Passport/Driver's License
  • Passport-sized photograph of All Partners
For Proposed Registered Address (Residential/Commercial)
  • Scanned Copy of Rent Agreement (For Rented Premises)
  • Scanned Copy of NOC from Landlord/ Owner
  • Scanned Copy of Electricity Bill

 

EASY TO START

Since Registration is not mandatory, the partnership deed will only be required to start the business in case of a Partnership Firm.

BUSINESS NAME

It would be more appropriating for your business if you would be having your firm name registered under trademark Act so that the brand name of your business can be protected from further competitors. However, in the case of LLP one is required to comply with the rules of ROC as well, since LLP incorporation is done only by the approval of ROC.

COST EFFECTIVENESS

A General Partnership Firm, being having the minimal compliance requirements, seems to be more cost effective than an LLP/ Private Limited

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