Grow your Business with a Partnership Firm Registration In Just 2 Weeks by Experts!

Intro

₹ 4299/-

All-inclusive Price
for Partnership Firm Registration

Partnership Deed & Franking¹
PAN & TAN
Draft & Prepare Application
Call, Chat(WA),& Email Support
Frequent Updates through your filingbee account

Select Plan

Base

₹ 13199/-

All-inclusive Price
for Partnership Firm Registration with
Accounting ITR & GST

Everything in Intro Plan
GST & MSME Registrations
Accounting Upto 100 Entries²
Financial Statements & Board Reports for 1 Year
GST Returns filing for 1 Quarter³
ITR Filing for 1st Year⁴
Call, Chat(WA),& Email Support
Frequent Updates through your filingbee account

Select Plan

Pro

₹ 19199/-

All-inclusive Price
for Partnership Firm
Registration with Accounting
ITR, GST & State ROF Filing

Everything in Base Plan
Registration of the Deed with State RoF⁵
Call, Chat(WA),& Email Support
Frequent Updates through your filingbee account

Select Plan

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Get in touch with our experts by filling in your details

Stamp Duty & Notarisation Charges will be extra as applicable.
Additional entries are available for a small fee.
Plan includes only 25 Invoices per month. You can purchase additional invoices at a nominal price. And filing of GSTR 4,9,9C is charged extra.
Statutory Audit fee is not included in the plan. Additional charges will be applicable for Statutory Audit & Tax Audit.
Please get in touch with us before selecting the Pro Plan. Filing of Partnership Deed with State Registrar of Firms (RoF) available only in select states.

As per the following timeline,
your selected plan will be processed

Day 1-3

Collect

We collect the necessary information and documents for Partnership Firm Registration.

Day 4-7

Draft

We draft the required documents for Partnership Firm Registration.

Day 8-10

Process

We proceed to submit the documents with RoF for Deed Registration (if opted)

Finally

Government Processing Time.Certificate of Registration from State RoF

Partnership Firm Registration:
An Overview

A partnership is a joint venture between two or more persons who combine their financial resources and managerial skills to run a business and share profits. Due to a sole proprietor's limited financial capabilities and inability to manage a growing business, they feel the need for a partnership firm. Partnerships usually develop from expanding a business with more capital, better supervision and control, division of work, and risk-sharing. A partnership firm registration will enable the partners to enforce the agreement.

In India, the Partnership Act dates back to 1932, making partnerships one of the oldest types of business entities. Even after it has been formed, a partnership firm can be registered. As a result, there are no penalties for the non-registration of a partnership. However, unregistered Partnership firms are denied certain rights under section 69 of the Partnership Act that primarily deals with the effects of non-registration of partnership firms.

What are the benefits of Partnership Firm Registration?

Ease in formation

It is effortless to form a partnership. An agreement between the partners is all that is needed. Even the registration expenses are not much.

Pooling of financial resources

Partnerships command a more significant financial budget than sole proprietorships. As a result, businesses can expand, and profits can increase. Whenever a firm requires more money, more partners may be admitted.

Pooling of managerial stalls

Partnerships facilitate the pooling of managerial skills among all partners. This results in better business operations.

Balanced business decisions

Generally, partner firms reach unanimous decisions after considering all the significant aspects of a problem. By doing so, balanced business decisions are made, and difficulties relating to their implementation are removed.

What is the difference between a Partnership and a Limited Liability Partnership?

A partnership is an agreement between partners where profits and losses are shared. The partner in an LLP cannot be held accountable for any misconduct or negligence of another partner. In addition, LLPs offer liability protection to owners from the debts of the LLPs.

Liability

LLP: Partners' liability is limited to the amount of their contribution to the LLP. In addition, one Partner is not held responsible for the actions of another Partner.

Partnership: A partnership's liability is unlimited and can extend to the assets of the individual partners. The actions of an active Partner may hold another liable.

Compliance

LLP: LLPs must comply with statutory requirements in addition to the Income Tax Act, as the LLP Act mandates the same. The compliances ensure that the entity's financial and operational information is transparent.

Partnership: Aside from Income Tax Act compliances, no additional compliances are required.

List of Documents Required for
Partnership Firm Registration

PAN Card of all partners
Aadhar Card and Voter ID/ Passport/ Driving License of all partners

Utility Bill (Electricity Bill or Property Tax) of the place of business
Rent Agreement and NOC (if the place is rented)

NOTE:

*We will collect additional documents based on the information you provided to the filingbee.

Your registered office does not have to be a commercial building; it can be your residence too.
Passport is required for NRIs
Utility Bills must be latest to 2 months

Here Are Some Frequently Asked Questions

An agreement between two or more parties to share profits is known as a partnership. A partnership can be formed by all partners working together or by one partner representing the others. A partnership must have three elements:

There must be two or more people.
An agreement must stipulate the sharing of business profits.
The business must be carried on by all partners or individually on behalf of the others.

It's not necessary. But the rights of partners against strangers or as individuals cannot be enforced in court unless the partnership firm is registered. The partnership deed itself may create, transfer or affect an interest in immovable property.

No, it is not necessary. It is sometimes prudent to make a partnership deed to submit to the bank, income tax authorities, and clients.

Yes. If the number of partners is more than 20, it has to be registered as a company.

There is no minimum amount required for the formation of a Partnership Firm. A partnership can be started with any amount of capital contribution from the partners. The Partners can contribute any amount, and any form of contribution can be tangible (cash, premises, goodwill) or intangible (intellectual property, goodwill)

Once the firm pays the tax, no tax will be payable by the partners on the share of income from the firm. However, Interest or remuneration, etc., received by a partner will be taxed in his hands as Business or Professional Income.

In India, an application for Partnership Firm Registration is filed with the Registrar of Firms (RoF) under whose jurisdiction the place of business of the Partnership Firm is located. Together with the Partnership Deed, the application for registration is made in the required form. After the registration procedure, the respective RoF will issue the Certificate of Registration.

Based on their business requirements, partnership firms can be converted to private limited companies or a limited liability partnership. The conversion of a Partnership firm into a Company or LLP is cumbersome, expensive, and time-consuming. It is, therefore, wise for many entrepreneurs to set up an LLP or Company rather than a Partnership firm.

As part of the Partnership Agreement, the partners should specify the main objects and activities as well as significant clauses related to capital contributions, profit-sharing ratios, and the management and administration of the Partnership Firm. Furthermore, the Partnership Deed must be duly stamped and notarized.

The law considers the partnership firm and the partners to be the same. Likewise, the liability of partners in partnership firms is unlimited; jointly and severally, all partners are liable for the firm's liabilities. Therefore, Partnership firms do not have a separate legal existence.

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Partnership Firm
Registration in India