Partnership Firm Registration

Create General Partnerships

 

Creating Parterships for Businesses Gets Simple

Partnerships are the simplest and easiest legal form of doing business in India. Generally two or more persons, who have agreed to carry on a business for generation of profits, gets into an arrangement to form a partnership. Partnerships in India are usually guided by a written partnership agreement. Partnerships in India can be a registered or non-registered.

Take “Create General Partnerships” Service – Let Experts at Taxraj guide you in forming the partnerships, enabling smooth functioning of your businesses.

PSHIP- Rs. 2000

  • Incorporation Reviewed by Tax Experts
  • Law Experts Will Discuss – Partnership Deed and other documents with You
  • PAN Included
  • Support via live Chat, Phone, Mail
  • Timeline : Max 1 to 2 Weeks
  • Fully Personlised to your needs
  • Fees charged most economical in Industry
  • Fees Quoted Above does not include Govt Fees
  • Fees Quoted above is Fixed Irrespective of Quantum of Govt Fees

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FAQ on “Creation of General Partnerships” Service

 

What  is ” Creation of General Partnerships” Service ?

Experts at Taxraj have the cutting edge expertise in business incorporation Services and would assist you in creating Partnership entity, which would include ( Selection of name, drafting of Partnership deed and issuance of PAN Card).

We/ I Understand that the fees quoted above does not include Govt Fees, What would be Govt Fees ?

Yes, the  fees quoted above is professional fees of Taxraj for assistance in incorporation of Partnerships. In India, there is no Government Fees as such for creation of general partnerhips. Government Fees is payable only when a partnership is registered, thus the fees quoted above is Taxraj ‘s Professional Fees = INR Rs. 2000.

Then What is the Procedure for getting Partnership registered?

We can also assist you to get your partnership registered, please feel free to “Contact Us‘ for that, if you wish to.

How do I pay for your service?

We have the most secured and world renowned payment gateway of Pay U which accepts all credit cards, debit cards and Net-banking from all banks.

I have paid online, what next?

If you have ordered a service from our site by paying via Pay U payment gateway, we would send you a confirmation mail having  “check list for details required for the assignment” within 4 working hours after receiving the payment confirmation.

Alternatively after you make the payment, you can send us an email with your details / Query. We will revert back to you ASAP.

Is the fees quoted above is final or do I have to pay more?

The fees chart has been formulated based on frequent queries / responses received by us from our users and also based on the efforts required from our end to successfully answer these queries. Further, the fees quoted above are final in most of the cases. Wherein, we are of the view that the query/ case would require additional in-depth study and efforts, in that scenario we would intimate you via mail in advance.

My  Partnership is Incorporated,  Now What Next ?

We provide full fledged business maintenance and after incorporation services, which includes PAN Applications, Accounting Services, Taxation services, Local Registrations and other such related services. Please Visit our “Business Maintenance” segment on the home page to know more on this.

Can We/ I get consolidated service package, having more such services ?

Taxraj has the expertise in the field of Business incorporation‘ and ‘Business Maintenance‘ services assisting many businesses / Corporates. We render full-fledged ‘Business Incorporation‘ services such as: Creation of Companies; Creation of LLPs;  Start-Up Counselling; and Other Registration services.

AND services under ‘ Business Maintenance‘ for ‘Corporate’ Assessees‘ and ‘Non- Corporate Assessees‘ includes: Accounting; Statutory and Tax Audits; Income Tax Services; Company Law Compliances;  and Other Related Services.

You can select the services you require and we can customise a service package suited best to your needs. Please feel free to Contact Us” for this or for any other issue.

Do You Have Any Issues? Write to our CEO at ‘gourav@Taxraj.com’.

FAQ on Incorporation of Company In India

What is Partnership Firm in India?

A partnership is a business entity in which two or more persons agree to share the profits of a business carried on by all or any of them acting for all. Earnings are distributed according to the partnership agreement.

What is Partnership Agreement?

The agreement between the partners put down in writing forms the “Partnership Deed”. It is a document containing the various aspects agreed upon by the partners. Partnership deed is drawn to avoid misunderstanding and undesirable litigation.

When Partnership Agreement is required to be made?

There is no such fixed due date within which partnership agreement is required to be made. But, it is always advisable to prepare a “partnership deed” for forming a partnership firm.

Partnership firms in India are governed by the Indian Partnership Act, 1932. While it is not compulsory to register your partnership firm as there are no penalties for non-registration, it is advisable since the following rights are denied to an unregistered firm:

 

• A partner cannot file a suit in any court against the firm or other partners for the enforcement of any right arising from a contract or right conferred by the Partnership Act

 

• A right arising from a contract cannot be enforced in any Court by or on behalf of your firm against any third party

 

• Further, the firm or any of its partners cannot claim a set off (i.e. mutual adjustment of debts owned by the disputant parties to one another) or other proceedings in a dispute with a third party.

 

Registration Procedure: A partnership firm can be registered whether at the time of its formation or even subsequently. You need to file an application with the Registrar of Firms of the area in which your business is located.

 

What are the basic contents of a Partnership Agreement?

Partnership agreement must contain following-

1. Name and address of the partners and the firm

2. Nature and place of business

3. Duration of business, if any

4. Amount of capital contribution by each partner

5. Profit or loss sharing ratio

6. Duties and powers of each partner

7. Salary or commission payable to the partners, if any

8. Interest on Capital to the partners, if any; and

9. Any other terms and conditions to run the business

Whether it is mandatory to register a partnership firm?

It is not necessary to register partnership firm with the Government. However, if you do not register your partnership firm with the registrar of firms and societies, any disputes between partners or others cannot be enforced in a court of law.

What are the legal benefits of registering Partnership Firm?

Registration of Partnership Firm safeguards the legitimate rights and obligations of parties in case of disputes and disagreements. Registered firm can take any action in a court of law against any other parties for settlement of claims and the rights of partners can be enforced in the court of law.

Is there a limit on the number of partners in a partnership firm?

In partnership the maximum number of partners is twenty and in a banking business, the maximum number is ten. If the number of members exceeds this maximum limit, then that business is not called as a partnership business legally and it has to be registered as a company.

What is the procedure to register a partnership firm?

To register a partnership firm, at the very outset a partnership agreement has to be prepared then a statement in prescribed form giving details about the firms duly signed and verified by all the partners along with a partnership deed , supporting documents and registration fees is required to be submitted to the register of firms of a locality. The statement submitted to the registrar of the firms should contain all the information of the firm.

On receipt of the signed statement and requisite fees the registrar enter all these particulars in its register and get the firm registered.

What are the information and documents required to register a partnership firm?

A list of the information and documents required is enumerated below:

1.Photograph and photocopy of an Identity Proof, address proof of each of the partners,

2. Address Proof of Firm

3. Name of the firm

4. Nature of business

5. Bank account operation (single / joint)

6. Profit / loss sharing ratio of each partner.

The services offered by us are carefully tailored – blending hard-core professionalism with a dedicated client orientation. Our objective is to make your life hassle free !