A Partnership Firm is a popular business structure in India, allowing two or more individuals to share management and profits. Governed by the Indian Partnership Act, 1932, partnership firms are straightforward to establish and manage. Registration involves drafting a Partnership Deed, which defines the roles, responsibilities, and profit-sharing ratio of partners. Although not mandatory, registration provides legal backing and can be beneficial for dispute resolution.

Registering a partnership firm not only establishes legal credibility but also enables access to benefits like the right to sue other parties, and it offers operational flexibility without stringent compliance requirements. With guidance from Vision Tax, the registration process becomes manageable, enabling business owners to focus on growth.

• Ease of Formation: Partnership firms are relatively simple to establish with minimal documentation.
  

• Operational Flexibility: Partnership firms face fewer regulatory obligations compared to companies.
  

• Profit-Sharing Flexibility: Profit can be distributed among partners as agreed in the Partnership Deed.
  

• Legal Recognition: Registered firms can legally sue or be sued, enhancing credibility.
  

• Enhanced Credibility: Registration boosts the firm’s standing with banks and clients.

1. Minimum of Two Partners: The firm requires at least two partners who agree to share responsibilities and profits.

2. Drafting of Partnership Deed: The Partnership Deed outlines the mutual rights, duties, and profit-sharing ratio of partners.

3. Registered Office in India: The partnership firm must have a registered office in India.

4. PAN Card of Firm: A separate PAN Card must be obtained in the firm’s name post-registration.

• Resident Partners: At least two partners must be Indian residents as per statutory requirements.
  

• Unique Firm Name Approval: The firm name should be unique and should not conflict with any existing registered names.

1. Draft a Partnership Deed detailing the partners’ rights and responsibilities.

2. Obtain a PAN Card for the partnership firm.

3. Register the firm with the Registrar of Firms (optional but recommended).

4. Open a bank account in the partnership firm’s name.

5. Submit the deed and other documents for GST registration if required.

• Identification Proof of Partners: PAN Card, Passport, or Voter ID.
  

• Address Proof of Partners: Aadhaar, bank statement, or driver’s license.
  

• Registered Office Address Proof
  

• Partnership Deed describing profit-sharing and other terms.

1. Draft Partnership Deed: Define the roles, responsibilities, and profit-sharing ratio among partners.

2. PAN Card Application: Apply for a PAN Card in the firm’s name post-registration.

3. Register Firm with Registrar of Firms (optional): Provides legal recognition and dispute resolution rights.

4. Open Bank Account: Open a bank account in the firm’s name for business transactions.

5. GST Registration (if applicable): Register for GST to enable tax compliance.

Our Fees: Rs. 5,000 + GST (excluding government fees)
Government Fees as per guidelines.

Processing generally requires 7-10 days.