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A Partnership is one of the most important forms of a business organization. A partnership firm is where two or more persons come together to form a business and divide the profits in an agreed ratio. The partnership business includes any kind of trade, occupation and profession. A partnership firm is easy to form with fewer compliances as compared to companies.

The Indian Partnership Act, 1932 governs and regulates partnership firms in India. The partnership firm is constituted under a contract between the partners. The contract between the partners is known as a partnership deed which regulates the relationship among the partners and also between the partners and the partnership firm.


Documents Required


  • Application for registration of partnership (Form 1)
  • Certified original copy of Partnership Deed.
  • Specimen of an affidavit certifying all the details mentioned in the partnership deed and documents are correct.
  • PAN Card and address proof of the partners.
  • Proof of principal place of business of the firm (ownership documents or rental/lease agreement).
  • The deed is required to be attested by at least two witnesses. 
  • The witnesses to the agreement can be any person other than the parties to the agreement.

Compliances to be met by Partnership Firms:


  1. Partnership Deed

    Partnership deed is an agreement between two or more partners which clearly defines the rights, responsibilities, profit share and other obligations of each partner clearly. The deed can be written or oral, although we recommend a written partnership deed to avoid any conflicts in the future.

  2. The primary details required for a partnership deed:
    • Name and address of the firm and all the partners
    • Nature of business
    • Terms of business
    • Capital to be contributed by each partner
    • Profit/loss sharing ratio among the partners
    • Rights of Partners
    • Duties and Obligations of the partners
    • Remuneration of partners
    • Process to be followed on dissolution of partnership
  3. Registration of Partnership:

    Partnerships are governed by the Indian Partnership Act, 1932. An application form along with the requisite fees is submitted to Registrar of Firms of the particular State in which the firm is located. The registration of Partnership Firm in India can take up to 12 to 14 working days. However, the time taken to issue a certificate of incorporation may vary as per the regulations of the concerned state.

Services we offer


  • Filing of e-forms and applications.
  • PAN Application (If PAN isn’t available)
  • Registration under Shop & Establishment Act.
  • Registration under GST Act.
  • Government Fees, Stamp Duty and its Notarization.
  • Advisory on other applicable government registrations.


  • Easy to Incorporate
  • Less Compliances
  • Quick Decision
  • Sharing of Profits and Losses
  • Greater Financial Resources:
  • Greater Creditworthiness
  • Balanced Judgement
  • Specialisation
  • Maintenance of Secrecy
  • Conservative Management

Difference between Partnership and Limited Liability Partnership?


Point of Difference Partnership Limited Liability Partnership


Unlimited Liability

It has a separate legal entity. Limited Liability

Minimum and Maximum Members

Minimum - 2

Maximum - 20

Minimum - 2

Maximum - unlimited

Registration Act

Registered under Partnership Act 1932

Registered under LLP Act 2008


Registration is to be done with Ministry of Corporate Affairs.

Registration is to be done with Registrar of Firms

Minor Partner

Minor can be partner

Minor cannot be partner

Annual Return

Not mandatory to file

Mandatory to file

Agreement between partners

Partnership Deed governs the partnership.

LLP Agreement governs the LLP


Not required




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