Tax Unbound

Partnership Firm Registration

What it means?

Partnership firms refer to two or more individuals in a business structure who operate & manage as per the terms laid out in the Partnership Deed. The firms are comparatively easy to establish especially for small and medium sized businesses.

Service Price options:

Up to 23% of All Packages

Beginner

From ₹3,600

From ₹2,500

✅ Partnership Deed Drafting

PAN/ TAN Application

Includes up to 2 partners. 

Partnership Deed Notarization; physical copy will be sent by courier. (Extra Charges of Rs 750 applicable).

Registration with “Registrar of Firms” is optional.  Extra Charges of Rs 12,000 applicable (only for “Delhi” residents. Registry fees also include stamp duty fees on authorized capital of total Rs 1 Lakh of all partners + Government Fees)

Standard

From ₹5,100

From ₹3,600

✅ Partnership Deed Drafting

GST Registration

PAN/ TAN Application

Includes up to 2 partners. 

Partnership Deed Notarization; physical copy will be sent by courier. (Extra Charges of Rs 750 applicable).

Registration with “Registrar of Firms” is optional.  Extra Charges of Rs 12,000 applicable (only for “Delhi” residents. Registry fees also include stamp duty fees on authorized capital of total Rs 1 Lakh of all partners + Government Fees)

All inclusive

From ₹6,500

From ₹4,600

✅ Partnership Deed Drafting

GST Registration

✅ MSME Registration

PAN/ TAN Application

Includes up to 2 partners. 

Partnership Deed Notarization; physical copy will be sent by courier. (Extra Charges of Rs 750 applicable).

Registration with “Registrar of Firms” is optional.  Extra Charges of Rs 12,000 applicable (only for “Delhi” residents. Registry fees also include stamp duty fees on authorized capital of total Rs 1 Lakh of all partners + Government Fees)

Preliminary Documents Checklist

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Passport Size Photographs of all the Partners
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PAN Card of all the Partners
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ID Proof of all the Partners

Driving License/ Passport/ Voter ID

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Proof of Place of Business

Electricity Bill, Municipal Tax Receipt, Rent Agreement or Lease Agreement

Document Checklist Image for Company Incorporation
Sole Proprietorship process brief

Process Brief

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Submit the documents as per checklist
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Documents are checked & verified by our team
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Partnership Deed is drafted & executed
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PAN & TAN is obtained later

Key Benefits

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Easy to form using Partnership Deed
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Required No mininum capital
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Duties are shared as compared to single owner
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Ownership & Control are split & Combined
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Easy to raise funds than being Single owner

Compliances of Partnership Firm

GST Returns compliance for Sole Prop.

GST Returns

Monthly, Quarterly & Annual GST Returns are required to be filed for those who have opted for GST Registration and who crosses required thresholds.

bookkeeping compliance

Bookkeeping & Accounting

Bookkeeping records are required to be prepare in order calculate the exact profit and loss of the business. However not mandatory, but beneficial.

Income tax compliance for Sole Prop.

Income Tax Returns & Audit

Income tax returns needs to filed every year over taxable income. This may also require preparing Profit & Loss with Balance sheet & getting tax audit for business.

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Quarterly TDS returns

Quarterly TDS returns (containing TDS deducted & deposited) needs to be filed by partnership firms that have TAN and are required to deduct tax at source.

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Its should have minimum 2 partners. While banking business can have upto 10 partners and any other business can have upto 20 partners.

– The name of the firm and details of partners.

– Total duration & date of commencement from when the firm was established.

– Total capital & interest which has been contributed/ payable to each partner along with their profit/loss sharing ratio.

– Total salary payable to each partner

– The procedure of admission or retirement of a partner

– Preparation of accounts of the firm

– The procedure of admission or retirement of a partner

– The procedure to be followed in case disputes arise between partners

– Mode of settlement of dues with a deceased partner’s executors

No minimum capital is required. The Partnership firm can be registered even with Rs. 10,000 as total capital.

The application for partnership firm registration is filed with the Registrar of Firms having jurisdiction over the place of business of the partnership firm. The registrar of firms after receiving & reviewing the application, registers the firm within 1-2 weeks and issues the Certificate of Registration of Firm.

It is not mandatory to notarize the partnership deed.

A partnership deed is created on a judicial stamp paper of Rs. 2,000/- and has to be signed by all the partners. It contains the rights and duties of the firm and the partners.

Minimum 12-14 working days, which may vary depending on the situation.

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