Register Your Partnership Firm Hassle-free

Partnership registration in India can be done with just 2 partners!

Register Your Partnership Firm Hassle-free
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Partnership Firm

A Partnership Firm is a kind of business structure in which 2 or more persons start and manage a business firm. The functions, terms and objectives of the partnership are laid down in a Partnership Deed. The partnership deed is created on a judicial stamp paper and attested by all the partners. The partners have unlimited liability and are personally liable for the debts of the partnership firm. The profits of the business are divided between the partners in accordance with their share in the firm. There can be a minimum of 2 and maximum of 20 partners in a partnership firm.

Partnership registration is opted commonly by small and medium-sized businesses with low capital investment. This type of business structure involves less legal complications, low costs and very few legal compliances. Partnership registration is optional, however, It is advisable to opt for partnership registration as it provides legal recognition and safety to the business.

A Partnership Firm is a kind of business structure in which 2 or more persons start and manage a business firm. The functions, terms and objectives of the partnership are laid down in a Partnership Deed. The partnership deed is created on a judicial stamp paper and attested by all the partners. The partners have unlimited liability and are personally liable for the debts of the partnership firm. The profits of the business are divided between the partners in accordance with their share in the firm. There can be a minimum of 2 and maximum of 20 partners in a partnership firm. Partnership regist
ation is opted commonly by small and medium-sized businesses with low capital investment. This type of business structure involves less legal complications, low costs and very few legal compliances.

A Partnership Firm is a kind of business structure in which 2 or more persons start and manage a business firm. The functions, terms and objectives of the partnership are laid down in a Partnership Deed. The partnership deed is created on a judicial stamp paper and attested by all the partners. The partners have unlimited liability and are personally liable for the debts of the partnership firm. The profits of the business are divided between the partners in accordance with their share in the firm. There can be a minimum of 2 and maximum of 20 partners in a partnership firm.

Partnership registration is opted commonly by small and medium-sized businesses with low capital investment. This type of business structure involves less legal complications, low costs and very few legal compliances. Partnership registration is optional, however, It is advisable to opt for partnership registration as it provides legal recognition and safety to the business.

Cost effective & Transparent Pricing

Basic

Rs. 5899/- inclusive of all fees

Basic partnership deed drafting by a Lawyer and LEDGERS accounting software. Inclusive of all government fee and taxes.

Standard

Rs. 9899/- inclusive of all fees

Partnership deed drafting by a Lawyer along with deed registration and LEDGERS accounting software. Inclusive of all government fee and taxes.

Premium

Rs. 15899/- inclusive of all fees

Partnership deed drafting by a Lawyer, deed registration, trademark filing and LEDGERS accounting software. Inclusive of all government fee and taxes.

Choose the Right Business Type

Compare the features of different business structures to choose the best for your business!

Key Features Private Limited Company Limited Liability Partnership One Person Company Partnership Firm Sole Proprietorship
+ Separate Identity
  The company has a separate identity from its shareholders and can hold property in its own name. The LLP has a separate legal identity from the partners and can sue or be sued in court. The OPC has a separate identity from its director. A Partnership ceases to exit upon the death of one partner. The Proprietorship and the owner are one identity.
+ Limited Liability
  The shareholders and directors have limited liability and are liable only to the extent of their share. The partners are only liable to the extent of their share in the LLP and cannot be held liable personally. The director has limited liability and cannot be held liable beyond his/her share. The partners have unlimited liability and can be personally held liable for the losses of firm. The proprietor has unlimited liability and can be personally held liable for the firm's losses.
+ Transfer of Ownership
  Ownership can be transferred through the transfer of shares. The ownership is transferrable in an LLP. The ownership can be transferred from the director easily. The ownership cannot be transferred from one partner to any other person. The ownership cannot be transferred as the firm and owner are one identity.
+ Number of Members 2-200 2- Unlimited 1 2-20 1
  There must be a minimum of 2 directors and 2 shareholders. The maximum no. of directors is 15 and shareholders is 200. There must be a minimum of 2 partners. There is no limit to the number of members in an LLP. There can only be 1 director and one nominee director in an OPC. There must be a minimum of 2 partners and the maximum number is 20. There can only be 1 proprietor in a sole proprietorship firm.
+ Perpetual Existence
  Company exists even after the death of any member. The LLP keeps on existing even if one partner leaves. The OPC has an unlimited existence and isn;t affected by the director's existence. The partnership firm ceases to exist after the exit or death of one partner. The proprietorship comes to an end with the exit or death of the owner.
+ Tax Benefits Some Many Some Many Few
  Tax rates are applicable in accordance with the existing tax rates. Share of profits are tax free in an LLP. The existing tax rates are applicable to OPC. Share of profits are tax free. Tax rates are applicable in accordance with the personal income of owner.
+ Foreign Members
  Foreign members are allowed after obtaining approval of the Government. The approval of Government is required to add foreign members to the LLP. No foreign members are allowed. No foreigner/ NRI is allowed. No foreigner can start a sole proprietorship.
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Frequently Asked Questions

How many partners can form a Partnership Firm?
There must be at least 2 partners to opt for partnership registration. A firm involved in banking business can have up to 10 partners and a firm involved in any other kind of business can have a maximum of 20 partners.
Who can be a partner in a Partnership firm?
Any individual or organisation can become the partner in partnership firm. However, all partners must have attained the age of 18 years at the time of partnership registration.
Can NRIs or Foreigners become partners in a Partnership firm?
No, an NRI or foreign national cannot become a partner in a partnership firm in India.
Are partners personally liable for the debts of the partnership firm?
Yes, partners of a general partnership are personally liable to pay the debts of the partnership firm. The personal assets of the partners can be used to pay the debts of the firm in case the business suffers from losses.
What is a Partnership Deed?
The partnership deed is the document that lays down the information about the partners, the details about each partner’s share in the business, terms of partnership, objectives of the business, etc.
Is it compulsory to register a Partnership firm in India?
No, it not mandatory to register a partnership firm in India. However, to give a legal recognition to the business, it is important to go for partnership registration. A registered partnership firm can sue someone in the court and can have property in its own name.
What are the differences between a Partnership and a Limited Liability Partnership (LLP)?
The primary difference between a general partnership and an LLP is that the partners of a partnership firm can be held personally liable for debts of the business. However, the liability of the partners in an LLP is limited to the extend of their share and they cannot be held liable personally.
Is Audit required for a Partnership firm?
No, an audit is not required in case of a partnership firm in India.
Is it required to conduct a board meeting in a Partnership firm?
No, a partnership firm is not required to conduct a Board meeting.
Do I need an office space to start a Partnership?
No, you do not need to have a separate office space for partnership registration. A firm can be started even at your home address, with valid address proofs.

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