Thinking to establish a partnership firm in India? Then you must know how to register it to get all the benefits that a registered partnership firm gets in India. Stay tuned with us to know the registration procedure and list of documents required for registration.
What is a Partnership Firm Registration?
A partnership firm is a type of business structure that is formed with the mutual decision of two or more people who agree to share all the profits and shares of the firm. These types of firms are registered under the Indian Partnership Act. People are more indulged to form partnership companies due to their benefits like minimal compliances and ease of formation.
Is it Necessary to Get a Partnership Firm Registration in India?
It is not mandatory to register a partnership firm under the Indian Partnership Act. But we suggest you get it as it has various benefits for your firm which can protect you from future legal disputes.
One can have registration anytime- during the formation of the firm, before the formation of the firm.
So, if you want to enjoy all the special rights which aren’t available to the unregistered firms get your firm registered now, with the help of Enterslice.
What is the Procedure For Partnership Firm Registration?
As discussed, it is very easy to register a partnership firm. You just have to follow some easy steps to get the registration. Another way out is to take the help of Enterslice and sit back and let us do the rest of the work. So, here are the steps you need to follow to get the registration:
Step 1- Submit an Application to the Registrar:
You have to submit an application to the registrar of firms in prescribed Forma A. you can also do it online. The application must contain the following details:
- Name of the firm
- Name and address of all the respective partners
- The business address of main and all branches.
- Joining date of partners
- Duration of firm
- Date of Commencement of the respective business
Step 2- File the Partnership Deed to the Registrar:
Once you are done with the application, you need to file duly signed partnership deed copy with the registrar of office. It must contain all the terms and conditions.
Step 3: Pay the Fees:
You need to pay or deposit the required fees and stamp duties.
Step 4- Approval of the Application:
Once you are done with the submission of all the documents and necessary fees, registrar of office will approve your application and will issue a certificate of incorporation.
And this is how the procedure to register a partnership firm will be completed and your firm will attain legal recognition.
Documents Require for Partnership Firm Registration:
- Partnership deed signed by all the partners
- Pan card of all the respective partners
- Address proof of all the partners
- Pan card of the firm
- Address proof of the firm, in case the business place is rented you will require NOC from the landlord.
What is a Partnership Deed?
A partnership deed is a document signed by all the respective partners of the firm to avoid any future conflicts between the partners. It is signed on a judicial stamp paper and contains the following details:
- Name of the partnership firm
- Name of all the partners
- Nature of the business
- Date of commencement
- Capital contribution of all the partners
- Profit sharing ratio of all the partners
- Interest on contribution and the interest in drawings
- Guidelines for solving any disputes
- Terms and conditions of the retirement or expulsion of a partner
- Distribution of the l duties among the partners and many more.
This was all about how to register a partnership firm in India. If you want to know more about partnership firm, Leave Comment.