Updated on September 02, 2023 01:37:00 PM
Partnership firm registration in India is a legal process that allows two or more individuals or entities to come together with a shared vision and collaborate for a common business goal. It is a formal agreement that establishes the rights, responsibilities, and obligations of each partner involved in the venture.
The process of partnership registration provides a strong foundation for the partnership's operations, ensuring transparency, legal protection, and a structured framework for decision-making.
Partnerships firms are a popular form of business structure, especially for small and medium-sized enterprises, as they allow for the pooling of resources, expertise, and capital while distributing risks and rewards among the partners. Registering a partnership not only lends credibility to the venture but also offers several advantages, such as tax benefits, access to funding, and the ability to enter into contracts and agreements on behalf of the partnership entity.
Partnership Firm is a Firm which requires two or more people to combine their purpose and work on the same track to operate a business or a Firm. A partnership Firm operates on the creative Interest of the partners with Mutual Understanding who aim only for Profit.
Partnership Firm online Registration is a service provided by the Indian Government to apply for registration of a Firm Under the Indian Partnership Act,1932.The Indian Partnership Act,1932 regulates and governs Partnership Firms in India.
The Indian Partnership Act 1932 is an Act to define and amend the laws relating to partnership.It regulates the formation,operation and dissolution of Partnership Firms in India. It also highlights the mutual understanding and agreement,rights and duties of the partners.
The Indian Partnership Act, 1932 came into existence on 1st Oct,1932 and was Implemented on the whole of India except the state of Jammu and Kashmir. The Indian Partnership Act,1932 governs and regulates partnership firms in India.
The following are the minimum requirements for partnership firm Registration:
The online procedure of Partnership Firm Registration can be understood by the following steps;
The very first step at the beginning of the process is selecting a visionary and creative name that could be adaptable to all.
Criteria while selecting the name:
A Partnership Deed is a Contract or an agreement,based on the mutual understanding of the partners which consists of basic terms and conditions of the Firm.
The partnership deed must be presented in a written form and should be signed by each party with mutual agreement based on their decisions to legalize it as a formal document.
The Application Form must be received by the ROF (Registrar of Firms), where the Firm is situated. And,It should be signed by all the Partners for the verification of the application.
The application must contain the following details:
The partnership firm is required to add ‘(Registered)’ after its name from the date of registration.
The registrar will go through all the documentation and will grant the certificate If he/she gets satisfied with the procedure.
Following are the documents necessary for the online registration of the Partnership Firm:
The status of online Registration of Partnership Firm can be checked by following these steps:
Visit the official website of MCA (Ministry of Corporate Affairs).Click on the 'MCA Services' tab and select 'View Company or LLP Master Data' from the drop-down menu.
The partnership firm will be displayed, after filling up all the necessary details such as name of the firm, registration no. of the firm.
If the partnership firm is not registered, a message stating 'No matching records found' will be displayed.
The total fee for Partnership firm registration in India is ₹11,999 which includes the Government fee as well professional fee of Professional Utilities.
|Partnership Registration||Registration Fees|
|Government Fee(Stamp Duty)||₹2,000|
The Total Fee may vary for different states according to the stamp duty charged by the respective state. Contact our Team at Professional Utilities to know the exact fee and registration Process.
In India, the estimated duration of time is 7-10 working days for the registration process of partnership firms.
The following are the numerous benefits obtained after registering the Partnership Firm Online:
At Professional Utilities, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.
The Online Registration process of Partnership Firm is one of the easiest ways to commence your Ideas by Introducing a new Firm to the Domain. According to Indian partnership Act,1932, It is not compulsory to have a registration of partnership firm but one can enjoy many advantages that it provides.
You can claim all these benefits by contacting Professional Utilities with the charge of ₹11,999/- and get this procedure done by 7-10 working days.
|Jammu Kashmir||Himachal Pradesh||Andhra Pradesh||Arunachal Pradesh|
|Manipur||Uttarakhand||Uttar Pradesh||West Bengal|
|Madhya Pradesh||Dadra Nagar Haveli|
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