Office Address

123/A, Miranda City Likaoli
Prikano, Dope

Phone Number

+0989 7876 9865 9

+(090) 8765 86543 85

Email Address

[email protected]

[email protected]

Partnership Firm

Overview

The partnership firm is an association of 2 or more persons who desire to come together and carry out a business in accordance with the terms and goals set out in the Partnership Deed. Further, more than one owner helps to increase the skills and improves the decision-making process. In addition to this, the risk of losses will be shared by all the members in this type of company. It is registered under The Partnership Act, 1932.

Advantages

  • A partnership registration is very easy and inexpensive as compared to LLP.
  • It has minimum compliance requirement.
  • Audit of accounts is not compulsory.
  • No minimum capital required.
  • Registration is optional.

Documents/Details Required for Registration of Partnership Firm

Statement in Form 1 with the prescribed fees Notarised True copy of the Partnership deed stating the following:

  • The firm-name.
  • Nature of business of the firm.
  • Place or principal place of business of the firm.
  • Names of any other places where the firm carries on business.
  • The date when each partner joined the firm.
  • Names and permanent addresses of the partners.
  • Duration of the firm.
  • Two identity proofs of Partners – Copy of Aadhaar Card/ Voter ID Card/ PAN Card (compulsory).
  • Address proof of the Partners (Voter ID, Passport, Driving license, etc.).
  • Ownership and sale deed (In case your own premise) and one address proof of registered office (like water, telephone, mobile bill or copy of bank passbook or net banking statement mentioning the address of the applicant).
  • In case the property is on rent, then you need to submit a copy of the rent agreement with NOC from the Landlord.
  • PAN Card of the firm.

Naming Criteria

  • The name of a Firm should have a short, unique and meaningful name shall not be identical with or too nearly resembles the name of an existing company.
  • No Firm shall have a name which, in the opinion of Central Government, is undesirable or the name proposed resembles any connection with Government or State patronage, unless prior approval of the Central Government is obtained.
  • The name of the Firm shall not be one prohibited under the Emblems and Names (Prevention of Improper Use) Act, 1950.
  • The name should not be such that its use by the company will constitute on offence under any law.
  • The name should not be illegal or offensive
  • The name should not be misleading for the public.

Eligibility for registering Partnership Firm

  • Only a natural person who is a resident of India can be a partner.
  • Every Firm shall have at least 2 partners.
  • Karta of HUF can be a partner in a partnership firm.
  • A company being an artificial legal person can be a partner in a firm if authorised by its articles.
  • Unless and until constitution or objects of trustees forbids to the contrary, trustees of religious trust/family trust/or any other religious endowments can be partners in a partnership firm.

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