Partnership Firm


A Partnership Firm is an organization which is formed with two or more persons to run a business with a view to earning a profit. Each member of such a group is known as a partner and collectively known as a Partnership firm. These firms are governed by the India Partnership Act, 1932. It is very easy to create a Partnership Firm. A partnership can be created by creating a Partnership Deed although it is not mandatory registration gives some benefits as compared to unregistered firms.

  • Basic
     2999 /-
  • Drafting of Partnership Deed
  • Partnership PAN Application
  • Capital contribution
  • Rs. 50 thousand
  • All Inclusive
  • Standard
     3999 /-
  • Drafting of Partnership Deed
  • Partnership PAN Application
  • Capital contribution
  • Rs. 50 thousand
  • GST Registration
  • MSME Registration
  • All Inclusive
  • Premium
     5999 /-
  • Drafting of Partnership Deed
  • Registration of Partnership
    with ROF
  • Partnership PAN Application
  • Capital contribution
  • Rs. 50 thousand
  • All Inclusive

Process

Deed Drafting

Draft the partnership deed and send for the confirmation

Apply for PAN

We have to apply for PAN after the confirmation.

Bank Account

Open a bank acccount using the PAN number, Deed drafting and other documents required by bank.

Registration

It will be based on the package taken by the company for the registration.


FAQ'S

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Partnership Deed Proof of Registered Address Minimum two person as partner NOC from the owner of premises
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Pan card of the all the partners Address proof of all the partners Colour photo of all the partners Signature on statutory form
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To open the bank account in the name of Sole Proprietorship Firm, Reserve Bank of India mandates that the proprietor need to provide two forms of registration for the Proprietorship along with the PAN Card, identity proof and address proof of the Proprietor. The two forms of registration can be any two of the following: MSME registration, GST registration, Registration under Shop & Establishment Act, Professional license, Chartered Accountant certificate or others as provided in the RBI’s Know Your Customer norms or the requirement of the respective Banks.
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One can start a Sole Proprietorship Firm with any amount of Capital. An amount sufficient to commence the business should be introduced. As there is no restriction on infusion or withdrawal of amount, the proprietor can change capital anytime. Introducing the capital in Business is the sole decision of an owner of the firm i.e. the Proprietor.
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The Proprietor must be an Indian citizen and a Resident of India. There is no approval required prior to the commencement of business. But, Non-Resident Indians (NRI) and Persons of Indian Origin can invest or start sole their proprietorship business only with prior approval of the Government of India.
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A proprietorship can be taken over by the company or LLP. However, the procedures for same are cumbersome, expensive and time-consuming. Therefore, it is wise for many entrepreneurs to consider starting the LLP or Company instead of a Proprietorship after consultation with experts.