🤝 Partnership Firm Registration

Start your business with shared ownership and control. Register your Partnership Firm to operate legally under a formal agreement between two or more people. Ideal for family-run businesses, small agencies, and joint ventures.

📘 What is a Partnership Firm?

A Partnership Firm is a business structure where two or more individuals join together to operate a business with shared responsibilities and profits. It is governed by the Indian Partnership Act, 1932 and requires a Partnership Deed to outline the terms and obligations of each partner.

While registration of a partnership firm is optional, registered firms enjoy greater legal recognition and protection in case of disputes.

✅ Key Features & Benefits

Feature Description
Shared Ownership Business is jointly owned and managed by partners.
Partnership Deed Governs All Profit share, roles, and liabilities defined in deed.
Low Cost Setup No ROC registration required like Pvt Ltd or LLP.
Flexible Structure Suitable for family-run or joint-ownership firms.
Easy Tax Filing Only Income Tax Act compliance is mandatory.
Bank Recognition Registered deed allows opening of business current accounts.

👤 Who Should Opt for a Partnership Firm?

  • Small shops & service businesses
  • Family businesses
  • Startups with co-founders
  • Agencies with 2+ team members
  • Offline traders & retailers

📑 Documents Required

For Partners:

  • PAN Card
  • Aadhaar / Voter ID / Passport / DL
  • Passport-size photographs
  • Email ID and Mobile number

For Business:

  • Proof of Business Address (utility bill)
  • Rent Agreement (if rented)
  • NOC from owner (if not owned)

For Registration:

  • Draft Partnership Deed
  • Stamp paper (as per state laws)
  • Partnership firm name

🛠️ What’s Included

  • Consultation on selecting structure & profit ratio
  • Drafting of Partnership Deed
  • Partnership Firm PAN Application
  • Firm TAN Number (if needed)
  • Guidance on Udyam (MSME) & GST Registration
  • Assistance in opening current account
  • State-wise firm registration (if applicable)

📋 Registration Process

Step Task Timeline
1️⃣ Consultation & Document Collection Day 1
2️⃣ Drafting & Finalizing Partnership Deed Day 1–2
3️⃣ PAN Application for Firm Day 3
4️⃣ Registration with Registrar (optional but recommended) Day 3–5
5️⃣ MSME & GST Filing Day 5+

🕐 Total Time: 3–7 Working Days

📌 Post-Registration Compliance

  • Apply for TAN (if TDS applicable)
  • File Income Tax Returns annually
  • Register under GST (if turnover > ₹20 lakh)
  • Maintain financial records
  • Renew firm registration (if applicable by state)

💡 Why Choose SITPakz Solution (SSPL)?

  • 🧾 Professional partnership deed drafting
  • 📍 PAN India support from Andaman-based team
  • 🏷️ State-specific advice for optional registration
  • 💼 Support for PAN, TAN, MSME, GST setup
  • 🔐 Secure document handling & consultation
  • 📞 Dedicated advisor support for compliance

💬 Frequently Asked Questions (FAQs)

Q. Is partnership firm registration mandatory?
➡️ No, but a registered firm gets legal recognition in case of disputes or lawsuits.

Q. Can we change partners later?
➡️ Yes, the partnership deed can be amended at any time with mutual consent.

Q. Can a partnership firm be converted to LLP or Pvt Ltd?
➡️ Yes, you can migrate to LLP or Pvt Ltd structure for scalability.

Q. Is there any audit requirement?
➡️ Audit is not mandatory unless turnover exceeds thresholds under the Income Tax Act.