Partnership firm
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Plans
Standard
- Drating of partnership Deed
- Registration of Deed
- GST registration
Steps
1. Fill Out the Form
A Partnership Firm is a business owned by two or more partners sharing profits and responsibilities under a partnership deed.
2. List of Documents Required
- Partnership deed
- PAN of firm
- Aadhaar & PAN of partners
- Address proof of business
- Bank account details
3. Registration Procedure
Step 1: Draft partnership deed
Step 2: Register with Registrar of Firms (optional in some states)
Step 3: Apply for PAN & GST
Step 4: Open bank account
4. Advantages
- Easy formation
- Shared responsibilities
- Low compliance
- Flexible management
5. Why is Partnership important?
It allows two or more individuals to run business together and share profits legally.
6. Status / Tracking
Partnership registration can be verified through state registrar records.
Partnership Firm Registration / Compliance
What is Partnership Firm Compliance?
Partnership firm compliance includes registration of the firm, maintaining a partnership deed, filing income tax returns, and GST compliance if applicable. A partnership firm is owned and managed by two or more partners who share profits and responsibilities.
Frequently Asked Questions
1. Is registration compulsory?
No, but recommended.
2. How many partners allowed?
Minimum 2, maximum 50.
3. Is liability shared?
Yes, partners have joint liability.
4. Is GST required?
Only if turnover exceeds limit.
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