Partnership Firm Registration in India - Procedure, Fees, Documents Required

Partnership firm is a business entity registered under the Partnership Act, 1932 where two or more people join together as partners for running & managing a business while sharing the profits and losses in an agreed ratio. Partnership firms can only be registered when the partnership deed is signed and accepted by all the partners of the firm.

Note: It is not mandatory to register a partnership but it is very risky and is not recommended by any professional experts.

Partnership deed is an agreement between the partners in which all the terms and conditions related to business are incorporated. Some of the major terms and conditions mentioned in the deed of a partnership are:

1. Details of the firm and partners
2. Profit and Loss sharing ratio among the partners
3. Nature, commencement and duration of partnership firm
4. Salary and commision of partners
5. Interest on capital and loan
6. Provisions related to capital introduction and capital withdrawal
7. Accounting and Auditing
8. Banking and Voting rights
9. Conditions for admission, resignation and retirement of partners

1. Minimum Compliances:Managing a partnership firm is very easy as there are no mandatory compliances of auditing for small businesses unlike a limited liability partnership or private limited company.
2. Cost Effective:Registering and maintaining a partnership firm does not require involvement of Digital Signature Certificate and Designated Partner Identification number which makes it more economical than other forms of businesses.
3. Easy to Start and Exit:Partnership can be registered only with a partnership deed and PAN Card of the firm. Hence, it is easy to start and exit.

The process of registering your business as a partnership firm is not much complicated. Our experts at Professional Utilities can simplify the whole registration process for you. Register your company online in 3 easy steps:

Step 1: Fill our simple form and receive a callback from our team of experts.

Step 2: Provide all the required documents for registration of the firm and make 50% payment in advance.

Step 3: Your partnership deed and other included documents will be delivered to you and you'll have to make the balance payment.

1. Copy of Aadhar and PAN Card of partners
2. Partnership Agreement/Deed
3. Address proof of office

1. PAN Card of firm
2. Partnership Deed
3. GST registration certificate (if required)
4. Shop and Establishment Act License (if required)

The fees for registration of partnership firm depends upon the no. of partners. The total cost of partnership firm registration is ₹1,999 including government & professional fees for two partners.

On average, it takes around 10-14 working days for registration of partnership firm in India subject to document verification by the concerned authorities.