Partnership Firm

Multiply Power.

  • Start a partnership firm with complete clarity & trust.

Easy to establish and run. a business structure in which two or more individuals manage and operate. the terms and objectives are set out in the Partnership Deed. low costs, ease of setting up and minimal compliance requirements make it a sensible option for some. Registration is optional for General Partnerships. There is always a second chance in life, but not in business.

Benefits

The power of togetherness.

  • No Minimum Capital

There are no restrictions as such with respect to the minimum capital requirement in case of partnership firm. The Partnership firm can be registered even with Rs. 10,000 as total capital.

  • Easy To Form

Partnership Firm is very easy to form. It comes into existence merely by a Partnership Deed. Its registration is not mandatory. Even after formation, there are no annual filings to be done except Income tax returns.

  • Large Resources

As a partnership firm requires a minimum of two partners, there’s an availability of larger resources be it financial resources or managerial resources as compared to a proprietorship firm.

  • Scalability

Its operations are scalable. Any new partner can be introduced only by executing a supplementary partnership deed. A partner can retire or can be removed by executing a similar deed.

  • Sharing Risks

On account of its very nature, Partnership firm enables sharing of risks by more than 1 person as the profit and losses are shared by all the partners. This ensures diversified financial risks.

  • Better Tax Planning

Partnership firm is a legal tool for better tax planning. The partnership firm is a separate entity and its tax is calculated separately so it can offer remuneration and interest to working partners.

 

Procedure

A few simple steps to go together.

  • Complete a Checklist

  • Submit Documents

  • Verification of Documents

  • Drafting & Executing Partnership Deed

  • Obtain PAN & TAN

 

Documents Required

A few simple paper formalities.

  • Photograph of all the Partners

  • PAN Card of all the Partners

  • ID Proof of all the Partners (Driving License/Passport/Voter ID)

  • Electricity Bill or any other utility bill for the address proof of the Registered Office

 

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Partnership Firm Registration Online in 2022 : Live | Fees | Process | Documents | Status
Partnership Firm Registration Online in 2022 : Live | Fees | Process | Documents | Status

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