Description
About the plan
A Partnership firm is where two or more people join hands to carry out a business for profit. The partners become joint business owners and carry out operations. The regulations are least and it makes it a desirable option for businesses having joint owners. In a partnership firm, the partners are jointly and individually liable for debts of the firm.
Services covered
- PAN Card Application
- Partnership Deed Drafting
- Filing of deed and other documents with the Registrar of Firms
- Issue of Registration Certificate
- GST Registration
Documents required
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Address proof of partners
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Photo ID proof of partners
- In case of owned business place, ownership proof required e.g., Utility bill,
- In case of rented business place, rent agreement & NOC will be required
Time duration
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10 working days to complete (Estimated).
FAQs
- What is Partnership Firm?
- A Partnership firm is where two or more people carry out a business. The partners become joint business owners and carry out operations governed by the partnership deed.
- The regulations are least and it makes it a desirable option for businesses having joint owners.
- In a partnership firm the partners are jointly and individually liable for debts of the firm or losses.
- This form of structure is ideal if there are no/less requirement of external funds.
- Do I need to be physically present during this process or I have to come to your office?
- No, your physical presence is not required during the process. All work is completely online.
- I have to raise funds for my startup, should I go with a Partnership Firm or I should choose any other business form?
- No, if you want to raise funds either from banks or from investors then you should go with registering a Private Limited Company. To read about Private Limited Company click here.
- How many people do I need to create and register a Partnership Firm?
- Minimum 2 persons are required for Partnership Firm.
- Do I have to occupy a full-time accountant for maintaining accounts?
- A full-time accountant is required only when there is a lot of work to maintain on daily basis. If your monthly transactions are low for e.g., 100 to 1,000 transactions per month then it is recommended to get Indtaxes Accounting services. Click here to see Indtaxes bookkeeping or accounting services.
- Is it cheaper to run Partnership Firm over a Private Limited Company?
- Yes, running a Partnership Firm is way more cheaper than a Private Limited Company.
- How much money do I need to invest in the beginning? OR What is the minimum capital that I need to put in my Partnership Firm?
- There is not any requirement mentioned in the law. You can start just from ₹10 also, but generally, people start with 5,000 to 10,000.
- I have not a separate place to run my Partnership Firm. Can I take Partnership Firm registration from my home?
- Yes, you can take registration from your personal address.
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What our clients say
220+ client’s reviews with Google 4.9 ratings
• 10+ Services Covered
• Monthly expert visit
• 220+ 5 star reviews
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