How to register a partnership deed

914 votes

Dear Sir/Madam,

This is to update you for getting register of a partnership firm you should have least two partners in numbers and thereafter you have to share the details of your partners alongwith their statutory documents as such we would be in position to go ahead. You also have to disclose and give a proof of evidence regarding initial investment in your firm.

Advocate Sumit Jidani LawRato

667 votes

The following are the essential characteristics of a partnership deed:-

Name and Address of the firm as well as all the partners
Nature of business to be carried on
Date of Commencement of business
Duration of Partnership (whether for a fixed period/project)
Capital contribution by each partner
Profit sharing ratio among the partners
The above are the minimum essentials which are required in all partnership deeds.
The Partnership Deed created by the partners should be on a stamp paper in accordance with the Indian Stamp Act and each partner should have a copy of the partnership deed. A Copy of the Partnership Deed should also be filed with the Registrar of Firms in case the firm is being registered.
The following documents are also required to be submitted along with the application:-

Application for Registration of Partnership in Form No. 1
Duly filled specimen of Affidavit
Certified True Copy of the Partnership Deed
Ownership proof of the principal place of business or rental/lease agreement thereof.
The application or statement must be signed by all the partners, or by their agents especially authorised in this behalf. When the registrar is satisfied with the points stated in the partnership deed, he shall record an entry of the statement in a register called the Register of Firms and issue a Certificate of Registration
Any person interested in viewing the details of any firm can request the Registrar of Firms for the same and on payment of the prescribed fees, a copy of all details of with Firm registered with the Registrar would be given to the applicant

It should however be noted that registration with the Registrar of Firms is different from Registration with the Income Tax Deptt. It is mandatory for all firms to apply for Registration with the Income Tax Department and have a PAN Card.

After obtaining a PAN Card, the Partnership Firm would be required to open a Current Account in the name of the Partnership Firm and operate all its operations through this Bank Account.

Advocate Rishabh Jain LawRato

762 votes

To register a partnership firm follow the following simple steps:
1. Choose a name in accordance with the Section 58(3) of the Indian Partnership Act 1932.
2. Get a Partnership Deed prepared from a good lawyer who can take care of all the nuances and get it registered. The same copy should be with all the partners.
3. Application for Registration of Partnership Firm i.e. Form 1 and prescribed fees needs to submitted at the Registrar of Firms of the state where the Firm is situated.
4. Duly filled Affidavit.
5. Certified true copy of the Partnership deed.
6. Ownership proof of the principal place of business or rental/leased agreement thereof.
Thereafter if the Registrar of the Firms is satisfied with the terms of the Partnership deed, it will get the name registered in the Register of Firms.

Advocate Akshay Shrivastava LawRato