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Partnership Firm Registration
A partnership firm is a popular business structure where two or more individuals join hands to run a business with shared responsibilities and profits. Registering your partnership firm ensures legal recognition, safeguards the partners' interests, and enhances trust among clients and stakeholders. Our Partnership Registration Services offer a hassle-free and efficient way to get your firm registered with all necessary documentation and compliance.
Why Register?
- Legal Recognition: Enables the company to operate as a legally recognized business entity.
- Dispute Resolution: Clearly defines roles, responsibilities, and profit-sharing among partners.
- Bank Account Opening: Mandatory to open a business bank account in the name of the firm.
- Ease of Fundraising: Attracts loans and investments with a legally registered entity.
- Contractual Capability: Allows the firm to enter into legal agreements.
Documents Required
- Partnership Deed: Details of partners, business objectives, capital contribution, and profit-sharing ratio.
- Identity Proof of Partners: Aadhaar Card, PAN Card, or Passport.
- Address Proof of Partners: Voter ID, Driver’s License, or Utility Bills.
- Business Address Proof: Rent Agreement (if rented) or Property Tax Receipt (if owned).
- Photographs of Partners: Passport-sized photographs of all partners.
- Firm Name and Address: The proposed name and principal place of business.
- Bank Account Proof: A bank statement or a cancelled cheque for firm transactions.
Benefits
- Structured Operations: The Partnership Deed's operational guidelines are well-defined.
- Tax Benefits: In accordance with applicable laws, eligible for tax exemptions and rebates.
- Business Continuity: When there are changes or disagreements, legal recognition guarantees seamless operation.
- Enhanced Credibility: Fosters confidence among investors, suppliers, and consumers.
- Low Compliance: Managed more easily than other business structures, such as companies.
Process
- Creating the Partnership Agreement Deed: Draft a thorough agreement detailing all of the partnership's terms and conditions.
- Verification of Documents: Gather and examine all required paperwork from the company and its partners.
- Submission to Registrar: Send the application to the Registrar of Firms along with any supporting documentation.
- Registration Certificate: Get the partnership firm's registration certificate after verification.
- PAN and GST Application (if needed): Help obtain a PAN for the business and, if necessary, register for GST.
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