Partnership Firm Registration

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Partnership Firm Registration

Partnership Firm is a form of business structure in which business is owned, controlled and managed by two or more person jointly. It is one of business structures in which two or more person comes together to carry out certain business activities and share profit and losses in the agreed ratio. It is popular among small and medium size business. Partnership Firm is governed by Partnership Deed. Partnership Deed is a document in which terms and conditions, rights and duties of partners and share of profit and loss is set out to avoid any future disputes.

It’s easy to start a partnership firm as it is optional to get it registered. Business can be started immediately after preparation of Partnership deed and taking necessary tax registrations as per the requirement of the business. For instance Service Tax Registration is required for those providing services or VAT registration for those doing trading activates.

 

Pricing Table

  • 2999 (all inclusive)
    Starter
  • Partnership deed drafting
  • Partnership firm
  • PAN
  • TAN
  • ORDER NOW
  • 6999 (all inclusive)
    Professional
  • Partnership deed drafting
  • Partnership firm Pan
  • TAN
  • and One year TDS return filing
  • ORDER NOW
  • 9999 (all inclusive)
    Elite
  • Partnership deed drafting
  • Partnership firm Pan
  • TAN with one year TDS return filing
  • and one year Quick book subscription.
  • ORDER NOW

ADVANTAGES OF A Partnership Firm Registration

 

Easy Startup

As registration of Partnership Firm is not compulsory, business can be easily started after preparation of partnership deed and obtaining tax registrations.

 

Minimal Compliance

Partnership Firms needs not to file audited financials or annual return with any authority and no audit is required unless it exceeds the limit specified under the Finance Act time to time.

 

Tax Advantage

Partners salary is deductible from profit as per the Income Tax Act. Further no tax on distribution of profit among the partners.

Partnership Firm Registration PROCESS

 

Initial Consultation

Our expert will understand your business requirement and partnership structure and will guide you throughout the process of registration of your partnership firm.

 

Partnership Deed Drafting

After understanding your requirement we will prepare partnership deed on your behalf which is acceptable to all partners.

 

Applying PAN & TAN

After the above process our expert will apply for PAN & TAN registration with Income Tax Department in the name of your partnership firm.

 

Time Period

We will help you in registration of your partnership firm within 07 to 10 working days subject to Government Approvals.

FAQs on Partnership Firm Registration

: How many people are required to start a Partnership firm?

A minimum of two Persons is required to start a Partnership firm. A maximum number of 20 Partners are allowed in a Partnership firm.

: Will my Partnership firm have a separate legal identity?

No, a Partnership firm has no separate legal existence of its own i.e., the Partnership firm and the partners are one and the same in the eyes of law.

: Is audit required for a Partnership firm?

It is not necessary for Partnerships to prepare audited financial statements each year. However, a tax audit may be necessary based on turnover and other criterion.

: Will my Partnership firm have a Certificate or Incorporation or Registration?

If the Partnership firm is registered, the Partnership deed will be registered and a Registration Certificate will be issued by the Registrar of Firms.

 

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