Partnership Firm Registration
A Partnership Firm is a popular and straightforward business structure that involves two or more individuals joining forces to pursue a common business goal. In India, Partnership Firms are governed by the Indian Partnership Act, 1932. This business form is well-suited for small and medium-sized enterprises, where partners pool their resources, skills, and expertise to achieve growth and success. Our experienced team is ready to assist you throughout the partnership firm registration process. From drafting the Partnership Deed to filing the application, we ensure a smooth and efficient registration experience, allowing you to focus on what matters most – building a strong alliance for success.
₹1694 excl. GST
Key Features of a Partnership Firm:
1- Formation:
A Partnership Firm is formed through a written agreement among the partners, known as the Partnership Deed. This document outlines the terms and conditions governing the partnership, including profit-sharing ratios, capital contributions, roles, and responsibilities of each partner.
2- Number of Partners:
A minimum of two partners is required to form a Partnership Firm, with the maximum allowed being 20 in the case of non-banking businesses and 10 for banking businesses.
3- Unlimited Liability:
Each partner in a Partnership Firm has unlimited personal liability for the debts and obligations of the firm. This means that if the business faces financial losses, the partners’ personal assets may be used to settle the liabilities.
4- Flexibility and Decision-making:
One of the significant advantages of a Partnership Firm is the flexibility it offers in decision-making. Partners can collectively make decisions and promptly adapt to market changes.
5- Capital Contribution:
Partners can contribute capital to the firm based on their financial capabilities, and the profit-sharing ratio is determined accordingly.