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Partnership Registration

100% Online Process & Transparent Pricing

The partnership is the simplest form of business for more than one owner. You can start functioning as a partnership firm within the same day. Get your partnership deed same day, apply for a PAN and open a Bank Account. We will help you at all stages.

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Basic Requirements to Start a Partnership Firm

Minimum Two Person

Minimum Two Person

A minimum of two partners is required to start a Partnership Firm. The maximum number of partners allowed for a partnership firm in India is twenty partners. However, no foreigner is allowed as partners in the partnership firm.

Capital Requirement

Capital Requirement

There is no minimum or maximum capital prescribed under the Partnership Act 1932. You can keep the capital of the firm as per the business requirements. The stamp duty on the deed depends on the capital and the state.

Unique Name

Unique Name

You should select the name of the partnership firm that is unique & which reflects the main business activity. Ensure that the proposed name is not the same or similar to any existing business or trademark registered or applied.

Business Address

Business Address

Address at which the firm carries on its usual business or maintains its books of account is known as its Principal Place of Business. The latest proof of the place of business along with a NOC from the premises owner is required.

Process Of Partnership Firm Registration

Start your Partnership Firm quickly with our experience of 16+ years of delivering quality professional services. Our dedicated team will help you to draft the partnership deed for your partnership firm across India. The registration of the firm is optional. However, it would be best if you get the firm registered with the Registrar of Firms.

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process of partnership firm registration video

Our Professional Fee For Partnership Registration

Basic

₹4,129/-

(Prof Fee Rs. 3,499 + GST Rs. 630)

Drafting of Deed,
PAN Card of Partnership Firm &
TAN (TDS Number) of Firm

Order Now See Fee Breakup & Pay
populer pack

Silver

₹6,489/-

(Prof Fee Rs. 5,499 + GST Rs. 990)

Basic Pack +
GST Registration
Udyam Registration (MSME)

Order Now See Cost Breakup & Pay

Gold

₹18,289/-

(Prof Fee Rs. 15,499 + GST Rs. 1,290)

Silver Pack +
Registration of Firm with
The Registrar of Firms

Order Now See Cost Breakup & Pay

The Stamp Duty, Government Fee may differ from state to state and on the Capital of the Firm, hence not included in above package
*The GOLD Plan is available in Delhi, Gurugram, Noida, Ghaziabad, Mumbai, Bangalore & Hyderabad Only.

Items Included With All Plans

  1. Drafting of Partnership Deed
  2. Firm Name Review
  3. Pan Card of Firm
  4. TDS Number of Firm
  1. Consultation With CA/Lawyer
  2. Dedicated Relationship Manager
  3. 100% Online Process & Transparency
  4. Gold Pack is Available in Select Cities

Not Included in any Plan

  1. Translation of Deed (If Required)
  2. Stamp Duty / Stamp Paper
  3. Local Notary Charges
  4. Any Government Fee or ROF Fee

Compare Features of our Plan in Detail

Basic

Silver

Gold

Start Your Partnership Firm Easily

We have packages starting Rs. 3499 + GST
All the government fee, stamp duty and notary charges on actual basis

Stepwise Process & Time Line for Partnership Firm Registration

Basic Documents to Start a Partnership

Notarised Partnership Agreement

Notarised Partnership Agreement

Proof of Registered Address

Proof of Registered Address

The Proof of Office Should Be Latest

The Proof of Office Should Be Latest

NOC from the Owner of Premises

NOC from the Owner of Premises

Documents of all partners of the Firm

Two Photograph

Two Photograph

PAN Card

PAN Card

Valid Identity Proof

ID Proof & Address Proof

Stepwise Process of Partnership Firm Registration

About 1 days

To start a partnership firm, Following is the stepwise process of Partnership Firm Registration starting with documentation to the registration of the firm by the registrar of the partnership firms in India

image of Stepwise Process of Partnership Firm Registration
image of Partnership Firm Registration Fee

Step-1:
Arrange List of Documents For Firm Setup

The process starts with documentation of the partners and the Principal Place of Business, where the firm shall be operating its business in India. Ensure that the documents are updated and correct. We shall also require information in the For Partnership Formation.

Documentation

Step-2:
Consideration of Name of the Firm

While keeping the Partnership Firm's name, you should thoroughly check the name of existing business or trademarks. To check the name of an existing company or LLP, you may visit mca.gov.in, and for checking the trademark, the database visits the Registrar of Trademarks' website.

Selection of Name - Day - 1

Step-3:
Drafting of Partnership Deed

The Partnership Agreement or the Deed is the constitution of the firm and is the primary document. The Deed of the Partnership must contain necessary covenants that determine the partners' mutual rights and obligations among themselves. This document also specifies the capital and profit-sharing ratio and how the partners shall operate the firm. Our team of lawyers help startups in the drafting of the partnership deed.

Drafting of Partnership Deed

Step-4:
Stamp Duty & Notary of Partnership Deed

After the draft partnership agreement is approved and adopted by the partner's appropriate stamp duty, on the partnership deed has to be paid. The stamp duty/paper varies from state to state and depends on the firm's capital. Finally, the partners signed the partnership deed in the presence of two witnesses, and after that, the deed should be notarised by presenting the same before a notary public.

Stamp Duty & Notary of the Partnership Deed

Step-5:
PAN Card and TAN of the Firm

The application for allotment of Pan Number and Issue of the Partnership Firm's Pan Card is made in Form No 49A. The TDS Number (TAN) of the firm is applied in Form No 49B, which is necessary to comply with the .

PAN Card and TAN of the Firm

Step-6:
GST Registration of Partnership Firm

The GST is a tax on supply of goods or services and to comply with the GST Law provisions, the firm may need to get registered with the GST. Please refer to our dedicated webpage on to know the threshold limit as may be applicable for seeking the GST Registration

GST Registration of Partnership Firm

Step-7:
Registration of Partnership Firm with ROF

Though registration of partnership firms is not mandatory under The Partnership Act, 1932, Section 69 of the act specifies the effect of Non-Registration. According to that, an unregistered firm shall not be able to recover any sum more than Rs. 100. Hence, for all practical purposes, the partnership firm's registration with the Registrar of Firms is strongly recommended. We provide service to register the partnership firms with the ROF in select cities; however, our Basic and Silver Packs are available throughout India.

Registration of Partnership Firm with ROF

Frequently Asked Questions

1.
What is the difference between Partnership Firm and Other Forms of Business?

We have prepared a detailed and easy to understand comparative table showing availability of features and advantages of one form of business to that of others. The same can be found at the end of this page. Click here to go there. difference between Partnership Firm and Other Forms of Business

2.
What are the pre-requisites for Starting a Partnership Firm in India?

To start a partnership firm, the minimum number of partners is two, whereas the maximum number of partners can be 20. The partners must come together to carry on any legal business with the motive of earning profits.

3.
What are the types of Partnership Firm?

The partnership business is regulated under Indian Partnership Act, 1932. Which prescribes possibility of two types of the firm, unregistered firm, and registered firm. An unregistered firm is formed by entering into an agreement between two competent persons, known as partners, where the firm is not registered with the registrar of firms. Whereas the firms which subsequently get registered with the registrar of firms by submitting the copy of partnership deed and KYC of partners and the registered office is known as the Registered Partnership Firm.

4.
What are the advantages of a Registration of Partnership firm?

Though the Indian Partnership Act, 1932 does not make registration of partnership mandatory, section 69 places certain disadvantages to an unregistered firm. Following are the disadvantages of an unregistered firm.

  • Only a registered partnership firm can claim a setoff
  • An unregistered partnership cannot recover any sum due from third parties if the amount in question is more than Rs. 100/-
  • Only a registered partnership firm can file a legal suit in the court of law for the enforcement of rights against partners.
  • The partners of an unregistered firm cannot file suit against another partner of the firm or the firm itself.

Hence, we strongly advise registering the partnership firm. An unregistered firm can be registered at any time. Every state government has established the office of the registrar of firms, which is vested with the powers to register the firm and issue the Certificate of Registration of the Firm and a copy of the extracts of the register of firms where the partnership name has been entered.

5.
Under which Government Authority, the application of Partnership Firm Registration is submitted?

The application for registration of partnership firm is filed with the Registrar of Firms having jurisdiction over the place of business of the partnership firm. The registrar of firms after receipt of the application complete in all aspects with all required documents registers the firm within 1-2 weeks and issues the Certificate of Registration of Firm.

6.
What are important points to be included in the partnership deed for registration of the partnership firm?

The law does not provide any specific format for the partnership deed, it is up to the partners what they agree and reduces in writing at the time of starting their partnership firm. The partnership once entered can be changed any number of times. However, each amendment of the deed must be filed with the registrar for its registration. Below is the list of items which should form part of the agreement.

  • The main object and activities of the Firm,
  • The effective date of the firm,
  • The duration of the Partnership Firm,
  • The clause relating Capital Contribution,
  • Profit sharing ratio of the partners,
  • Management and Administration of Partnership Firm,
  • How to resolve disputes,
  • The deed must be signed before two witnesses,
  • The deed should be notarized

7.
What is the Stamp Duty on which Partnership Deed is made and is Notary on Partnership Deed necessary?

The stamp duty on the partnership deed varies from state to state, and within one state it further varies based on the capital of the firm. You must correctly consider the applicable stamp duty on the partnership deed. The notary of the deed is an essential requirement for partnership registration.

8.
How to apply and get the PAN and TAN of the Partnership Firm?

The PAN is a ten-digit alphanumeric number allotted by the Income Tax Department, the application for pan card is filed in Form No 49A. The TAN is a number allotted for TDS Compliance, the application for TAN is filed in Form No 49B. Normally it takes around 6-10 days in PAN allotment and Pan Card Delivery.

9.
Can I convert a Partnership Firm into a Private Limited Company or LLP?

Yes, a partnership firm can be converted easily into a Limited Liability Partnership or a Private Limited Company. The partnership is an old method of doing business; we always recommend to start a business in the Private Limited form

10.
How easy is to start a partnership business in comparison to other forms of business?

A partnership business begins with the creation of an agreement by the partners. As the registration is not mandatory, the business can start on the same day of agreement of the partners. However, the Notarization of the agreement or its registration with the registrar of documents may be taken up later on. Similarly, the registration of firm with the registrar of firms can also be taken up in due course of time. Hence it can be rightly said that it's comparatively easy to start a partnership.

11.
What is the law on Name of the Partnership, is there any restriction on keeping a particular name of the partnership firm?

A Partnership is started by its partners with a separate name in the deed, which is known as the name of the firm. While deciding a name, the care should be exercised to check if it conflicts with some one's else trademark. Our specialists shall be providing you with free consultancy on Name Check and how to protect Business Name, its Logo, Punchline, etc.

12.
Do I have to file an annual return to the registrar of firms?

Unlike Limited Company or LLP, there is no need to file the annual return for a partnership firm. However, income Tax Return shall be necessary to be submitted at the end of the financial year and within Due Date of filing. There is no provision of audit under the partnership, Act hence a firm does not require to get its books audited. However, if the turnover crosses 2 Crore, then tax audit is mandatory.

13.
Who makes decisions in the partnership firm?

Under partnership form of business, there is no separation of ownership and control. The partners act in confidence to each other and act of one partner is binding on another. Partners monitor and manage the firm without any interference. The decision making in case of a firm is relatively a fast process in comparison to that of the Private Limited company, Limited Liability Partnership (LLP)

14.
Should a partnership firm be registered?

There is no provision under the partnership Act, 1932 which mandates the registration of partnership. However, the act itself provides for the procedure of registration of firm. Thus the registration is optional but highly recommended, as an unregistered firm shall not be able to recover any money in excess of INR 100/-. Apart from the above legal impediment, from the practical point of view also the firm should get registered in order to bring certainty in the relationship of partners and the firm per se.

15.
Is a written partnership deed necessary to form a partnership firm?

No, it is not necessary. As the contract act does not makes it necessary to have the agreement in writing. However, it is always prudent to make a partnership deed to produce to the bank, income tax authorities and to clients with whom the partnership firm deals with. Apart from serving as a reference document a written partnership deed also helps in reducing conflict and confusion in due course of time.

16.
Can a partnership firm be sued in the name of the firm?

Yes. A partnership firm can sue or be sued in its own name. The firm is treated separately from its partners. However, the partners do not enjoy limited liability as available in case of LLP or a company. In a situation where the firm is not in a position to discharge its liabilities, the partners shall be called in to pay the liabilities of the firm.

17.
Can a partnership be constituted for a particular business undertaking?

Yes. A person may become a partner with another for a single adventure or undertaking. The term of partnership firm can be for a specific period or for the completion of a specific project or at will. The deed must have a specific mention about the tenure of the partnership agreement. The Even partnership which is created for a specific purpose can be closed before the term with the consent of all the partners.

18.
Am I personally liable for my business under a sole proprietorship?

Yes. Unlike other incorporated business forms, you are personally liable for any of your sole proprietorship’s debts or legal judgments against your business. This means that in order to satisfy debts owed by your business, debt collectors can come after your personal assets, homes, cars, etc. For this reason, alone, you should be extremely cautious about setting up a sole proprietorship. Setindiabiz.com recommends One Person Company in place of proprietorship.common-question-bottom

19.
Can one deal with one of the partners of a partnership firm?

Yes. The law presumes that each partner is an agent of the other and while dealing with third parties the partner is representing the partnership firm in good faith. The acts done by one partner is binding on another even if it is not in the knowledge of the other party.

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I believe with the relationship with SETINDIABIZ is worth value for money. Our account was managed by Proshanto and he has very proactive to support... See at Google

Pravesh Verma Pravesh Verma , Nov 15, 2019
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Overall it is good Experience. Representatives are very active. They will walk you through each and every process. They will help you with the...See at Google

Syed Naseruddin Syed Naseruddin , Dec 06, 2019
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Great service with understanding of budget and requirement of customer. A trustful firm for people who has basic knowledge of legal rules. ... See at Google

Punya Gautam Punya Gautam , Dec 05, 2019
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I highly appreciate the managers and co-workers as they are highly committed to their work. All the reports, forms and correspondence are... See at Google

Rahul Gangurde Rahul Gangurde , Dec 11, 2019
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I had very good experience of setting up my company. The team at SetIndiabiz are professional & understands need and executes at pace needed. ... See at Google

Srinivasa Rao Valiveti Srinivasa Rao Valiveti , Nov 26, 2019
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Setindiabiz is a Great Company for registration of PVT. LTD. , LLP or any other company. Their process is fast but due to Durga puja holiday my... See at Google

Amlan Dutta Amlan Dutta, Nov 10, 2019
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We got our documentation done by SetindiaBiz and we are really happy to have found the right consultancy. Really helpful, patient and ... See at Google

Kingsmen Security Kingsmen Security , Nov 26, 2019
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Perfection and quality makes SETINDIABIZ differ from other companies. Promptness is an additional quality of them. Hats-off guys. Good job...See at Google

Sunil Ob Sunil Ob , Oct 19, 2019
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I'm happy with the phone and the deal i got from the company. Speaking with the service team helped me get exactly what i was looking for... See at Google

Manga Lucas Manga Lucas , Nov 17, 2019
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Dedicated, supportive and understanding team. What else we need to get the jobs done? Thanks to Set India Biz for helping me. .......See at Google

Ashok Satapathy Ashok Satapathy , Nov 17, 2019
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Have a great pleasure, and experience with team 'SETINDIABIZ' knowledgeable and supporting staff. As per our requirement, They committed and...See at Google

Abdul Constructions Abdul Constructions , Dec 15, 2019
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It's amazing. It was easy to understand and work was completed smoothly. Liked there work and recommend everyone to give them a chance. The best...See at Google

Rahul RajRahul Raj , Nov 12, 2019
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Very Nice and great company, all the executives are so polite and professional, they know their work very well and they are master in them. ......See at Google

Rahul GoyalRahul Goyal , 19 Oct, 2019
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Reliable with service satisfaction, employees are very helping & cooperative. Am grateful & thank you to the entire team of SetIndiabiz was......See at Google

Mohamed Salman Shariff Mohamed Salman Shariff , 19 Nov, 2019
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I have had a very good experience with them in incorporating my LLP. Sana Parveen from Delhi office has been very helpful and very much approachable.......See at Google

Abhishek BalchuguriAbhishek Balchuguri , 19 Nov, 2019
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The complete team is amazing, a very co-operative and helpful. They will answer all your questions calmly even if you ask same thing million of times. ...See at Google

Aakanksha Shirbhate Aakanksha Shirbhate , 19 Nov, 2019
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I should write here .. I'm really impressed about Ms. PUJA.. You're an asset to your company Setindiabiz... I'm writing most about the person...See at Google

Manjunath S Manjunath S , 19 Nov, 2019
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Good company for dealing with startups especially for documentation and registration. On the time action and positive results. ........See at Google

ANIL YADAV ANIL YADAV , 19 Sep, 2019
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Great people, culture, All of the team, including the managers are approachable, helpful, caring and hard working.....keep up the good work....!! ...See at Google

Mdz Mdz , 19 Nov, 2019
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I would like to mention that Set India Biz is one of the best professional company I have worked with. All team members are customer focused...See at Google

Pravesh Verma Pravesh Verma , 19 Nov, 2019
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Rhanks To Sana For Being An Best Supportive Cordinator All The Time. On Start Had face a Lot of Issues because of mumbai Office but then Got in...See at Google

Divya Kholakiya Divya Kholakiya , 19 Nov, 2019
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Excellent service. Mainly, its the timely update needed which is supplied on regular intervals. Ms. Khushboo & Ms. Swati were very cooperative...See at Google

Radhakrishnan Velayudhan Radhakrishnan Velayudhan , 19 Nov, 2019
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The support given to me by corporate lawyer Mr. Kishore is really commendable. He was very cooperative in her approach towards our requirement and...See at Google

Mukund Tripathi Mukund Tripathi , 30 Sep, 2019
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I had a good experience with SetIndiaBiz for TM registration. Mr. Shubham who was dealing my case was very professional and clear about what is ...See at Google

Sri Nithya Saswathananda Sri Nithya Saswathananda , 20 Sep, 2019
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REALLY FAST AND PROMPT SERVICE.VERY GOOD EXPERIENCE OF SETTING UP ALL THE REQUIREMENTS WITHOUT ANY HINDERANCE. .THANKS TO THE TEAM ESPECIALLY MR. ...See at Google

SANDEEP KUMAR SANDEEP KUMAR , 20 Sep, 2019
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I hardly trust people in business society. However, the people in this company are exception. You can trust them blindly. They are unbelievably ...See at Google

Amit Kumarw Amit Kumar , 20 Sep, 2019
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