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Partnership

Overview

A partnership firm is a business structure during which two or more individuals manage and operate a business by the terms and objectives that began within the Partnership Deed. it’s owned, managed, and controlled by an Association of individuals for profit. Partnership firms are moderately easy to begin and frequent amongst small and medium businesses within the unorganised sectors.

 

Partnership firms are created by drafting a Partnership deed amongst the Partners and by a registered Partnership deed, Book My Consultant can assist you to start a Partnership firm in India.

Our Process

Estimated time to complete the process  4-5 working days

Step 1

Initial Discussion & collection of Basic information

Step 2

Collection & Verification of Documents

Step 3

Drafting & Executing Partnership Deed

Step 4

Review and Approval from Partner's

Step 5

Payment of Stampduty for Deed & Notarization of Deed

Step 6

Applyying For PAN & TAN Number

Step 7

Dispatch of Deed and other deliverables.

Choose Your Package

All Inclusive Pricing – No Hidden Fee

  • Basic
    • ₹ 4700
      • Drafting of Partnership Deed
      • Execution of Partnership Deed
      • Applying For PAN & TAN Card
      • MSME Registration
      • Bank Account Opening Support
      • Stamp Paper *
    • Purchase Now
  • Premium
    • ₹ 7700
      • Drafting of Partnership Deed
      • Execution of Partnership Deed
      • Applying For PAN & TAN Card
      • MSME Registration
      • Bank Account Opening Support
      • Stamp Paper *
      • GST Registration
      • E Way Bill Portal Registration
      • 3 Month GST Return Filing
      • Accounting Software
    • Purchase Now
  • Ultimate
    • ₹ 15000
      • Drafting of Partnership Deed
      • Execution of Partnership Deed
      • Applying For PAN & TAN Card
      • MSME Registration
      • Bank Account Opening Support
      • Stamp Paper *
      • GST Registration
      • E Way Bill Portal Registration
      • 1 Year GST Return Filing
      • Accounting Software
      • 1 Year Income Tax Return Filing
    • Purchase Now

* Stamp Paper will be purchase by client as per state rules.

* Charges applicable extra for Partnership Firm registration with Registrar of Firms of the respective states. This is an optional process after partnership firm documentation.

Benefits

No Min Capital

There aren't any restrictions intrinsically regarding the minimum capital requirement just in the case of a partnership firm. The Partnership firm is often registered even with Rs. 10,000 as total capital.

Easy to create

A partnership Firm is extremely easy to form and it comes into existence by a Partnership Deed. Its registration isn't mandatory. Even after formation, there are no annual filings to be done except tax returns.

Scalability

Its operations are scalable. Any new partners are often introduced only by executing a supplementary partnership deed. A partner can retire or are often removed by executing an identical deed.

Better Tax Planning

A partnership firm is a legal mechanism for greater tax planning. The partnership firm may be a separate entity and its tax is calculated separately so it offers remuneration and interest to working partners.

Documents Required

Documents required for the formation of a Partnership Firm

Form No.1 (Application of registration under the Partnership Act)

PAN Card of all the partners.

AADHAR CARD and Permanent address of each partner.

Name of the partnership firm and place of business.

Address detail of partnership firm intending to be incorporated.

Details nature of partnership and share in revenue by each partner.

Original copy of Partnership Deed, signed by all partners.

Rental or lease agreement of the property/campus where the business is set.

Affidavit declaring the intention to become a partner.

Profit / Loss Sharing Ratio

Capital Contribution Ratio.

Clear All Your Doubts !

 A partnership firm is a business form in which two or more individuals manage and operate a business in accordance with the terms, and objectives set in a Partnership Deed. This may or may not be registered.

 When the partnership deed doesn't contain any provision for the duration of the partnership nor conditions for the termination of the partnership, it's a partnership at will.

Let’s start your business journey with Book My Consultant.

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