Partnership Firm REGISTRATION

Partnership firm registrations service is provided by TaxHills.We have made Startup registration services online,simple and easy for India.

what is partnership firm

A Partnership firm is a business entity created by persons who have agreed to share profits or loss of the business. Partnerships are a very good choice of business entity for small enterprises wherein two or more persons decides to contribute to a business and share the profits or losses. In India, Partnerships are widely prevalent because of its ease of formation and minimal regulatory compliance.

HOW to start partnership firm registration

To start a partnership firm, the partners need to enter into a partnership deep. The deed should ideally be in writing and get it notarized. The registration of the firm is not mandatory, however, strongly recommended.

  • Draft Partnership Deed and Getting Notarized

  • Apply for Pan Card of the Partnership Firm

  • Obtain TAN Number 

  • Open Bank Account

  • GST Registration & MSME

DOCUMENTS REQUIRED FOR PARTNERSHIP FIRM REGISTRATIONS

WHAT ARE ADVANTAGE AND DISADVANTAGE OF PARTNERSHIP FIRM REGISTRATION

ADVANTAGE

Minimum Capital

No minimum capital is prescribed, it must be based on the business requirements. The Stamp Duty on the deed is based on the capital of the firm.

Minimal Compliance

Minimal compliance requirements. For instance, a Company or LLP requires the annual filing of its financial statements with the Registrar of Companies.

DISADVANTAGE

Liability Protection

Partnership Firm does not provide the limited liability protection. So the partners would be held personally liable in case of any loss or liability.

Fund Rasing

A partnership cannot raise equity funds from angel investors, venture capital firms or PE funds. Banks also tend to restrictions on the amount of credit they can lend.

No FDI

Foreign investment in a partnership firm is not permitted. In the firm, only Indian citizen can become the partner and start the partnership firm.

OUR SERVICES

  • Consultation with Advisor

  • Partnership Deed Drafting

  • Partnership Deed Notarization

  • PAN & TAN Allotment

  • MSME Registration

  • Bank Account Opening Support

How many days does it take to register Partnership business – 5 to 7 days 

HOW IT WORK

1. Select Service to Avail

2. Make the Payment

3. Send Documents via Email

4. Done Registration