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Partnership Firm

The fastest way for two or more people to start trading together.

Professional fee from
₹2,999
Timeline
3–7 working days
Governed by
Indian Partnership Act, 1932

Professional fee. Stamp duty varies by state and is billed at cost.

Best suited to

Small local businesses and family ventures with modest risk

Get started with Partnership Firm

Tell us where you are and a professional will call you back with the exact fee and document list.

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Overview

A partnership is formed by a deed between two or more people. It is quick and inexpensive, and there are no annual ROC filings. The catch is unlimited liability — partners are personally answerable for the firm's debts, jointly and severally.

Registration with the Registrar of Firms is optional in most states, but an unregistered firm cannot sue to enforce a contract. We recommend registering, and the fee is small.

What is included

  • Partnership deed drafted to your terms
  • Execution on the correct stamp paper for your state
  • Registration with the Registrar of Firms
  • Firm PAN application

Documents you need

  1. 01PAN and Aadhaar of every partner
  2. 02Address proof of the firm's place of business
  3. 03No Objection Certificate from the property owner
  4. 04Profit-sharing ratio and capital contribution agreed between partners

How the filing runs

  1. Day 1

    Terms agreed

    We take you through profit sharing, capital, roles and exit terms.

  2. Day 2

    Deed drafted

    Draft shared for your review and changes.

  3. Day 3–4

    Deed executed

    Signed on stamp paper and notarised.

  4. Day 5–7

    Registered

    Filed with the Registrar of Firms and PAN applied for.

Questions about partnership firm

01Do I have to register the firm?

It is optional in most states, but strongly advisable. An unregistered firm cannot file a suit against a partner or a third party to enforce a contractual right.

02How is a partnership taxed?

At 30 per cent plus surcharge and cess on firm income. Partners' salary and interest on capital are deductible within the limits set by section 40(b).

Free consultation

Tell us what the business does. We will tell you what it needs.

A 15-minute call with a Chartered Accountant or Company Secretary, at no cost, before you commit to anything.

Call +91 73476 04424
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