General Partnership
Registration
If You Want To Lower Costs, Ease Of Setting Up And Minimum Compliance. So The Partnership Option For You Is Right.
₹ 2,499 (Onwards)
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What is General Partnership Registration?
A Partnership is defined by the Indian Partnership Act, 1932, as ‘the relation between persons who have agreed to share profits of the business carried on by all or any of them acting for all’. This definition gives three minimum requirements to constitute a partnership firm, viz. (1) there must be an agreement entered into orally or in writing by the persons who desire to form a partnership (2) the object of the agreement must be to share the profits of business intended to be carried on by the partnership, and (3) the business must be carried on by all the partners or by any of them acting for all of them.
A General Partnership is a business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in the Partnership Deed. A Partnership Firm is a popular form of business constitution for businesses that are owned, managed and controlled by an Association of People for profit. Partnerships firms are relatively easy to start are is prevalent amongst small and medium sized businesses in the unorganized sectors. With the introduction of Limited Liability Partnerships in India, Partnership Firms are fast losing their prevalence due to the added advantages offered by a Limited Liability Partnership.
What Is Included In Our Package?
- Consultation
- Name search & approval
- Drafting of Partnership Deed
- Partnership PAN
- Attestation of Partnership Deed
- Partnership TAN
- Consultation
- Drafting of Partnership Deed
- Attestation of Partnership Deed
- Name search & approval
- Partnership PAN
- Partnership TAN
Procedure For Partnership Registration
Documents Required For Partnership Registration
Minimum Requirements for Partnership Registration
- Minimum 2 Partners
- The Partner must be an Indian citizen and a Resident of India.
- No fixed minimum Capital Requirement
- All Partners valid pan card
- Minimum 2 Partners
- No fixed minimum Capital Requirement
- All Partners valid pan card
- The Partner must be an Indian citizen and a Resident of India.
Advantages of a Partnership Registration
- Easily to register, manage & run.
- Annual Filing Not Required.
- Audit not required.
- Relatively Inexpensive.
- Minimum compliance requirement.
- Easily to dissolve or wind-up.
- Easily to register, manage & run.
- Audit not required.
- Minimum compliance requirement.
- Annual Filing Not Required.
- Relatively Inexpensive.
- Easily to dissolve or wind-up.
Frequently Asked Questions
Any individual/organisation can become the partner in LLP including foreigners/NRI’s .
A partnership must have at least two partners. A partnership firm in the banking business can have up to 10 partners, while those engaged in any other business can have 20 partners. These partners can divide profits and losses equally or unequally.
– The deed should contain names of the partners and their addresses, the partnership name, the date of commencement of operation of the firm, any capital invested by each partner, the type of partnership and profit-sharing matrix, rules and regulations to be followed for intake of partners or removal.
– A Minimum of two partners is required to a start a partnership firm. A maxim of 10 partners (in case of banking business ), 20 partners (in case of other business ) are allowed in partnership firm.
– PAN Card for the Partners along with identity and address proof is required. It is recommended to draft a Partnership deed and have it signed by all the Partners in the firm.
– There is no limit on the minimum capital for Partnership Registration. Therefore, a Partnership can be started with any amount of minimum capital.
Yes, an existing partnership firm can converted into a company or LLP.
– The entire procedure is 100% online. As all documents are filed electronically, you would not need to be physically visited at all. You would need to send us scanned copies of all the required documents & forms.
– PAN is a Permanent Account Number (10-digit alphanumeric number), which is issued by the Income Tax Department in India. A PAN Card is used as a document of identity proof. (TAN) is a Tax Deduction and Collection Account Number (10-digit alphanumeric number), issued to persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961.
