Documents Required for Partnership Firm Registration
- Partnership Deed
A partnership deed is an agreement that is prepared and formed by the partners of the firm and defines all the rules, duties, regulations, methodology, functions, and shares of the business. A Partnership Deed registration online is mandatory as it helps to avoid future disputes, discomfort, and conflicts between the partners. A Partnership deed is created and signed by all the partners or the members on the Judicial Stamp Paper which costs around Rs. 2000/-
- PAN Card
All the registered partnership firms or the members of the partnership firm are required to present their PAN cards as their identity proof.
- Address Proof
All the designated partners have to present a copy of their address proof such as an aadhar card, voter id, driving license, ration card, etc. The address and information given in the address proof document should match with PAN card information.
- Office Address Proof
Address proof of the registered working place has to be submitted. If the registered office place is a rented property, then the applicant has to present the rent agreement with a utility bill such as an electricity bill, gas bill, water bill, property tax bill, and so on. And also the applicant should submit the No Objection Certificate or NOC from the owner of the registered office place.
About Partnership Firm
- A partnership firm is a business structure preferred by entrepreneurs for a profitable purpose.
- It is owned, managed, and controlled by partners who share capital in the firm.
- The main aim of a partnership firm is to gain more profit.
- Members of a partnership firm are called partners, who share profits and losses in proportion to their ownership and contribution.
- Partnership firms can have a huge amount of capital investment as each partner can contribute to it.
- The decision-making process in a partnership firm is corporate or collective.
- Partnership firms can be registered or non-registered.
- Registered partnership firms enjoy various advantages that are not applicable to non-registered partnership firms.
- Partnership registration is done as per the Partnership Act, 1932, with very less documentation, rules, and formalities.
Steps to Form a Partnership Firm
Step 1: Application for Registration
- The name of the firm.
- The principal place of business of the firm.
- The location of any other places where the firm carries on business.
- The date of joining of each partner.
- The names and permanent addresses of all the partners.
- The duration of the firm.
Step 2: Selection of Name of the Partnership Firm
Any name can be given to a partnership firm. But certain conditions need to be followed while selecting the name::
- The name should not be too similar or identical to an existing firm doing the same business.
- The name should not contain words like emperor, crown, empress, empire or any other words which show sanction or approval of the government.
Step 3: Certificate of Registration
If the Registrar is satisfied with the registration application and the documents, he will register the firm in the Register of Firms and issue the Registration Certificate.
The Register of Firms contains up-to-date information on all firms, and anybody can view it upon payment of certain fees.
An application form along with fees is to be submitted to the Registrar of Firms of the State in which the firm is situated. The application has to be signed by all partners or their agents.
Timelines for Private Limited Registration
The DSC and DIN of the proposed directors can be obtained in 1 day The Certificate of Incorporation of an Partnership is obtained in 3-5 days The whole incorporation process of an Partnership takes approximately 10 days subject to departmental approval and revert from the respective department.
