What is Partnership Registration ?
A Partnership is a business structure in which two or more individuals manage and operate a business in accordance with the terms and goals set out in the PartnershipDeed. Partnership registration is relatively easy and is prevalent among small and medium sized businesses in the unorganized sectors. Partnership Registration is done through Maheswari Consultancy.
For Partnership Registration, you must agree on a firm name and then establish a partnership deed. It is a document stating respective rights and obligations of the partners and to be valid it should be written and not oral. The terms of the Partnership Deed can be varied to suit the interests of the partners and can even be made contrary to the Indian Partnership Act, 1932 but if the Partnership Deed is silent on any point, then the provisions of the Act would apply.
Choose Partnership because
- Partnership registration is very easy.
- Partnership registration is inexpensive as compared to LLP.
- It has minimum compliance requirement.
What is Included In Our Partnership Registration Package?
- Drafting of Partnership Deed
- Name search & approval
- TAN
- Partnership Pan Card
Procedure For LLP Registration
Complete our Partnership Form
You are required to fill the details in our simple online questionnaire and submit documents.- Start
Verification of Documents
For further procedures, details provided by you will be verified by our experts.
Partnership Deed Drafting
Further after submitting your documents we shall draft your Partnership deed.- 2 Working Days
Apply for TAN & PAN
We will create all the required documents and file them with ROC on your behalf.- 2 Working Days
Your work is completed
- CONGRATULATIONS
Documents Required For Partnership Registration
The following documents are required for the registration of a Partnership firm:
- Statement in Form 1 with the prescribed fees
- Notarised True copy of the Partnership Deed stating the following :
- The firm-name
- The nature of business of the firm
- The place or principal place of business of the firm
- The names of any other places where the firm carries on business
- The date when each partner joined the firm
- The names in full and permanent addresses of the partners
- The duration of the firm
- Proof of ownership or rent/lease of the location of your business.(e.g. Electricity Bill/ Water Bill or Rent/Lease/Leave and Licence Agreement of Business Place)
- Copy of PAN Card of partners
- Copy of Aadhaar Card/ Voter identity card
The Statement must be signed by all the partners of the firm and must also be verified by affidavit in the prescribed manner.
Steps For LLP Registration
Step 1
All the above mentioned documents must besubmitted to the Registrar of firms of the state.
Step 2
A certificate of Registration is then issued, by the Registrar, and a copy should be given to all the partners.
Step 3
Also, a separate registration with the Income Tax department is to be done in order to avoid any future problems and must obtain a PAN card and a bank accountunder the name of Partnership firm.
Why Partnership Registration ?
Relatively Inexpensive
Minimal Compliances
Easy to establish
Audit not required
Minimum Requirements for Partnership Registration
- Minimum 2 Partners
- No fixed minimum Capital Requirement
What is Partnership?
- Partnership in the Corporate world refers to a relationship when two or more people decide to share the profits of a business carried on by them all or any of them acting for all.It’s generally done in legal terms. The percentage of ownership varies and depends on certain factors. Partnership firm thus is a firm which allows joint ownership of a business. There are certain rules and regulations that have to be followed while setting up a Partnership firm. Registering a partnership firm is not compulsory under the Indian Partnership Act, 1932 but only Maharashtra has made their registration compulsory. Further a partnership firm can be registered at any point of time i.e. even several years after formation. Registering or not registering a partnership firm has itsown advantages, but like a coin which has two faces, it definitely has its own disadvantages too. Described below in detail is how a partnership firm works and how can you register for partnership firm in India.
- The partnership is relatively easy to start however, there are certain conditions and restrictions to be followed in setting them up. Also, according to Indian Partnership Act,1932, consent of all the partners in a partnership firm is required in fundamental matters (like admission of new partners, dissolution of the firm, conversion of the firm etc.) and a majority in other matters and there should be sharing of all the profits or losses made in the business. It also states that there has to be a legal contract that There are certainly more rules while setting up a Partnership firm, clearly stated in the Indian Partnership act,1932 and they should be followed strictly to avoid any severe actions made by authorities towards your firm.
Need for Partnership Registration
If you don’t register your Partnership :
Partner Cannot sue firm: A partner in an unregistered partnership firm cannot sue the firm for enforcing any rights under the Indian Partnership Act, 1932.
Cannot claim Setoff in a dispute with a third party.
The firm cannot sue third parties whereas the third parties would be able to sue the firm irrespective of registration.
Why Choose Maheswari Consultancy
We provide fast and Accurate service for affordable fee with money back guarantee.
Centralized System
More Than 7 Years Experience
Save Your Time
Cash Back Guarantee
Frequently Asked Questions
At least two partners are required for an LLP registration. There is no limit to the maximum number of partners. If you are the sole owner, you can register as a One Person Company.
Any individual/organisation can become the partner in an LLP including foreigners/NRI’s. However, an individual must be above 18 years and should have a valid PAN card.
Our procedure is 100% online which means that, there is no compulsion for you to be present at our office physically. A scanned copy of documents can be sent to us via mail and we will handle the rest. You will get the company incorporation certificate from MCA via courier at your business address.
We do not have any kind of hidden charges. Our system is completely transparent. After making your payment, we will send you an invoice that is all-inclusive, with no hidden charges. Our team will provide you all the support you need, till you get your LLP bank account.
You need to have a bank account with a minimum balance, which could be as little as Rs.5000. You need not invest any more capital in starting the business. You needn’t even deposit this amount to the bank. You can also show that the capital amount has been utilized, in the form of a “pre-incorporation expense” of the LLP e.g, LLP registration expenses. You can also show that this capital amount has been utilized to purchase assets such as computers, tables etc.
Yes, but only after an NRI/a Foreign National, has been assigned with the “DIN/DPIN”. However, at least one designated partner in an LLP must be an Indian Citizen. In fact, the foreign director can also be a majority shareholder in the company.
Yes, you can register your LLP at your residential address. It is perfectly legal to start the company at your home or in your garage. MCA team typically doesn’t visit your office. You just have to provide your home address proof such as rent agreement or electricity bill.
Yes, as a salaried person you can become a partner in an LLP. But you need to make sure that whether your employment agreement allows for such provisions. In most, cases employers are comfortable with the fact, that their employee is a director in another company.
No, you cannot convert your LLP into a Private Limited Company. Both the “LLP Act, 2008 and the Companies Act, 2013” do not have any provisions which allow the conversion of an LLP in to a “Private limited company”. However, if you want to expand your business, then you can register a new “Private Limited Company” with the same name as that of the LLP. The LLP Company just needs to issue a no objection certificate.
Maheswari Consultancy provides LLP incorporation services across all Indian cities. We have done LLP registration in Mumbai, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Ahmedabad, Kolkata, Surat, Pune, Jaipur, Lucknow, Kanpur, Nagpur and in various other Indian cities.
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