Partnership Deed Registration - Legalize Your Partnership
@ ₹ 1251.00 only /- ( Including GST )
Secure Your Partnership with a Well-Drafted Partnership Deed!
A Partnership Deed is a formal legal document that defines the rights and responsibilities of all partners in a business or firm. Contact us to have your Partnership Deed expertly drafted by our top-notch legal team.
When forming a partnership, it is crucial to establish a Partnership Deed—an agreement that clearly outlines the terms and conditions for all partners. This ensures smooth business operations and helps prevent future legal disputes. The Deed serves as a guiding document for business conduct, preventing misunderstandings, conflicts, and harassment among partners during disagreements.
The Partnership Deed is governed by the "Indian Partnership Act of 1932" to eliminate uncertainties in partnership agreements. Although a partnership firm can be formed without registration, it is highly recommended to register your firm under the Indian Registration Act to safeguard against future risks. Seeking professional legal assistance for drafting your Partnership Deed is essential.
What is a Partnership Deed?
Although registering a partnership deed is not mandatory, it is highly recommended. Registration is done before the Registrar of Firms and provides a legal reference that helps resolve unexpected disputes and safeguards the partners' interests. A registered Partnership Deed is akin to having a formal contract among friends before starting a business, ensuring a smooth and secure partnership.
The Partnership Deed acts as a roadmap for conducting business operations between two or more partners. It clearly defines each partner’s roles, rights, and responsibilities, which is crucial for the firm's successful and efficient functioning.
This roadmap to a well-functioning partnership firm typically includes the following elements -
Names
Names of all partners involved.
Contributions
Each partner's capital contribution.
Profit and Loss Sharing
The ratio in which profits and losses will be shared among partners.
Duties and Decisions
Roles, duties, and decision-making authority of each partner.
Adding or Removing Partners
Procedures for adding or removing partners.
Dissolution
Terms and conditions for dissolving the partnership.
Documents Required for Partnership Deed Drafting
Identity and Address Proof
Valid identity and address proof of all partners.
PAN Cards
PAN cards of all partners.
Photographs
Passport-sized photographs of all partners.
Office Address Proof
Proof of the business's office address.
Utility Bill
A utility bill (such as an electricity bill) of the registered office address.
No Objection Certificate (NOC)
NOC from the property owner, if applicable.
Rent Agreement
Rent agreement or property ownership documents of the business premises.
Stamp Paper
Stamp paper for the notarization of the Partnership Deed.
Partnership Firm Registration Fees
The registration fees for a Partnership Firm can vary across different states. The total cost typically includes three components: Government Fees, Professional Fees, and Additional Costs. Factors such as the type of partnership and the services provided by registration authorities can also influence these fees.
- Government Fees - These fees primarily include Stamp Duty and charges for online registration through the respective government portal. The amount can vary significantly depending on the state, ranging from ₹300 to ₹3000
- Professional Fees - Professional fees cover services such as drafting the partnership deed, uploading necessary documents and information, and coordinating or submitting them to the authorities.
- Additional Costs - These may include notary charges for affidavits, the cost of stamp paper, and any applicable bank charges. Generally, online registration incurs lower professional fees compared to offline filing.
At Legal Sahab, we offer customized packages for drafting and registering your partnership firm based on your specific requirements. We ensure complete transparency in our pricing, with no hidden costs, so you get the best value for your investment.
Procedure for Online Registration of a Partnership Firm
Our legal experts will thoroughly review all submitted documents to minimize errors or misleading information, ensuring a smooth registration process.
Our specialized team will guide you through the document requirements and registration formalities, providing expert assistance for your Partnership Deed.
Once all documents are verified, the assigned professional will proceed with the application for your Partnership Deed Registration.
Upon approval of your application by the Registrar of Firms, the Partnership Deed Certificate will be issued.
Please wait for our expert to notify you once the Partnership Deed Certificate has been successfully generated.
Advantages of a Partnership Firm
- Subject to Fewer Regulations - Partnership firms are subject to fewer regulations compared to other business structures, making the registration process simpler and less formal.
- Flexibility in Decision-Making - Partners have greater flexibility in making decisions and managing the business operations.
- Optional Registration - Unlike registered firms, unregistered partnership firms do not enjoy certain benefits and legal protections, but registration is not mandatory.
- No Mandatory Annual Filings - There is no requirement for annual filings, reducing the administrative burden.
- No Minimum Capital Requirement - Partnership firms do not have any minimum capital requirements, allowing for easier business setup.
- No Mandatory Certificate of Registration - Unlike Limited Liability Partnerships (LLPs), a partnership firm does not need to obtain a certificate of registration.
- Ease of Conversion - Changing the type of firm, such as converting it to another business structure, is relatively straightforward.
- No Mandatory Unique Identification Number - A unique identification number or registration certificate is not required for partnership firms, providing operational flexibility.
- Simplified Registration Process - The process of registering a partnership firm in India is relatively quick and less cumbersome compared to other business entities.
Documents and Details Required for Partnership Firm Registration
- Partnership Deed - The Partnership Deed outlining the terms and conditions of the partnership.
- Form 1 - Application for registration, available online.
- PAN Cards - PAN cards of all partners.
- Aadhar Cards - Aadhar cards of all partners.
- Address Proofs of Partners - Address proof documents for each partner.
- Office Address Proof - Proof of the office address, such as an electricity bill, rent agreement, or property ownership documents.
- Affidavit - Affidavit from the partners as per the requirements of the Partnership Act.
- Bank Details - Details of the firm’s current account along with relevant bank documents.