1Your business requirement
Placeholder: add the first situation in which this service applies.
Partnership firm registration
Register your partnership firm with one of the reputed partnership firm registration,tax and business advisor.
What this Service Includes
- Professionally drafted partnership deed
- PAN application
- Partnership firm registration certificate
Documents required
- Aaadhaar card of all partners
- Mobile no of all partners
- Email id of all partners
- Nature of business
- Business name and registered address
- Mobile no and e-mail id for business
When you may need Partnership firm registration
2Your records or filing
Placeholder: add a relevant document, filing or compliance trigger.
3Your next step
Placeholder: explain when a client should contact Right Auditor for this service.
Advantages of partnership firm over other structure
Affordable
Partnership firm is considered to be affordable to register and maintain, the cost of registration and compliance is low while advantages are high.
Minimum compliance
There are fewer mandatory compliances like, income tax filing, annual filing etc, unlike private limited company parnteship firm is not required to maintain voluminous documents.
Optimised advantage
Partnership firm have integrated benefits of proprietorship and private limited company, in most cases we recommed partnership registration for new start up business for its flexibility to add partners, flexibilty to ammend terms, easy documentation etc.
Easy set up
Partnership firm is easy to set up, in 99 % cases desired name can be obtained without any rejection, quick approval by department with minimum documents. Partnership firm can be set up in as quick as in 2 working days, no approval are required for partnership deed approval, approval is required only for firm registration certificate.
Benefits under income tax act
Benefits of 44AD presumptive taxation is applicable to partnership firm, therefore partnership firm also given benefits of minimum documentation under income tax act. Tax audit is not mandatory for partnership firm therefore partnership firm enjoys same benefits as proprietor ship firm.
Steps in partnership firm registration
Business registration consulting
Client requirement for business registration is gathered, discussion with client is held to validate suitability of partnership firm registration, over other forms of business.
Partnership deed drafting
Once partnership registration checklist is received from client, partnership deed is drafted and sent to client for approval and any corrections.
Submission of firm registration application
Once deed is approved partnership deed is printed and firm registration application is generated for signing by all the partners and witness. On receipt of signed application with relevant documents, it is submitted to registrar of firms for approval of partnership firm registration certificate.
Pan card application
Pan card application is submitted to income tax department for allotment of PAN.
Tax and other advisory
Once the certificate is received client will be advised regarding due dates, basic tax advisory for compliance, renewal dates etc.
Partnership Registration FAQ's
Select a question to read the answer.
01What is partnership registration certificate?
Partnership firm registration certificate is issued by the registrar of firm of concerned region, partnership registration certifcate is government document aknowledging entry of firm name in register of firms.
02Is it mandatory to register partnership firm?
No registration of partnership firm is not mandatory, however partnership registration certificate is required at the time of opening bank account, application for business loan, application for tenders, vendor empanelment etc.
03Do I need to renew partnership firm?
There is no such concept of renewal of partnership firm, however annual return should be filed every fiancial year, delay in filing of annual return results in penalty.
04Do I need commercial space for partnership firm registration?
Partnership firm can be registered at residential address also, there is no such condition that firm should be registered only at commercial address.
05Can we register more than one partnership firm with same name
Yes, more than one partnership firm can be registered with the same name, if we need to protect our business name from other persons then it is recommended to apply for trademark.