Partnership firm company registration, now faster and better than it has ever been!
Obtain the most efficient partnership firm company registration with Zolvit! A 100% online process with no delays.
Get DSC and DIN
Select an appropriate company name
Draft MOA and AOA
Avail CIN and certificate of incorporation
Apply for TAN, PAN
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Zolvit has been our legal service provider for quite a long time! Our experience with them has been great, especially the speed and proficiency with which they deliver their services. We recommend them!
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Founders of Lovely Chocos
Zolvit is exactly what it does. Legal is simple. We went to Zolvit to register our Trademark during the lockdown and everything was done online with ease. We never even had to step out of the house. It was truly a digital experience.
CEO & Developer of Golghar.com
Partnership firm company registration online in India is now easy with Zolvit. To guarantee that your documents are always secure, Zolvit implements the best security protocols available in the market.
Application for partnership registration (form 1)
Authenticated original partnership deed copy
A sample of an affidavit attesting that the partners' PAN cards
Addresses listed in the partnership deed
Company's main address
Photo of each director and shareholder
Address and ID proof of each director and shareholder
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Did you know?
One of the most well-known partnership companies in the world is said to have been named Hewlett-Packard (HP) or Packard-Hewlett based on a coin toss. Dave Packard and Bill Hewlett were engineering programme classmates at Stanford University. They started HP with a $538 start-up investment, they began producing electrical circuitry equipment while operating out of a rented garage. The Walt Disney Studios was one of their first clients, and they later developed artillery shell fuses and counter-radar equipment for use in World War II. As of today the company has a market cap of 34 Billion dollars.
Is a partnership firm a distinct legal person?
How many partners are allowed?
What is the length of time required to form a partnership firm?
What is the bare minimum and maximum number of partners needed in India to start a partnership firm?
Who is eligible to join a partnership firm as a partner?
How much money is needed to form a partnership firm?
Which is preferable, LLPs or partnership firms?
In a general partnership, two or more individuals manage and run a business in line with the terms and goals of the partnership deed. Since the advent of limited liability partnerships (LLP), it is believed that this structure has become obsolete. This is because general partnership firms have unlimited liability, which means that the partners are personally responsible for the debts of the company. However, it is a practical choice for some, such as home enterprises that are unlikely to incur debt, because of its low expenses, ease of setup, and limited compliance needs. General partnerships have an optional registration process. To learn about the current partnership deed structure, get in touch with our Zolvit experts right away.
Possibility of suing the firm or the other partners
The firm's ability to bring legal action against other parties
Right to apply the set-off principle
Step 1: Drafting a Deed of Partnership:
A partnership deed should be the first document the partners have to draft when they decide to register their business. The drafted partnership deed should have adhered to the format clearly described in the Indian Partnership Act of 1932. Depending on the business and the agreements between the participants, the deed may be finalised. A deed outlines all of the various elements required to run a successful firm, including the salaries to be paid, the division of profit and loss, interest on capital, exit plan, etc.
Step 2: Partnership Deed Execution
After all the present partners in the form agree to draft the partnership deed it should be executed after paying a proper stamp duty. The state where the deed is registered determines the stamp duty. Additionally, the deed needs to be notarised immediately. Each partner must properly sign the deed. The partnership deed must include the witnesses' signatures.
Step 3: Stamp Duty And Notary process
Only after completing the stamp duty payments the partnership deed will be executed. All the stamp duty payments have to be completed adhering to the Stamp Act of the particular state where the business is initiated.Both franking and non-judicial stamp paper may be used for the execution of the deed. The primary distinction between franking and stamping is that the former denotes the legitimacy of the documents, the latter does not. It is implied by the franking that fees or taxes, like stamp duty, have been deposited. Payment for franking, which resembles a stamp paper, is done through the banks. Once the stamp fee has been paid, the partners' signatures, as well as those of the relevant witnesses will be collected.
Step 4: Getting a PAN for the Partnership Company
You can apply for a Permanent Account Number (PAN) before or after the partnership firm has been registered. The same functionality is available in both online and offline modes. When submitting an application to establish a partnership firm, most jurisdictions permit applicants to also apply for a PAN. Apart from this a scanned copy of the partnership deed has to be presented.
Step 5: Partnership Firm Registration
The partnership firm is registered in the jurisdiction of the Registrar of Firms (RoF). The application form requests details about the firm, including its name, the names of its partners and their contact information, its location, how long it has been in operation, etc.The partners must comply with any requests for the submission of documents and proofs made by the registrar
Step 6: Establishing a Bank Account
The partnership firm's primary objective is to conduct business activities. It follows that a bank account is necessary for the company in order to conduct its everyday functions. The current account will be registered in the company's name. All of the essential paperwork for the partnership will be delivered to the bank.
According to the Indian partnership Act of 1932, the business may register itself at any moment after formation. On the other hand, a registration application cannot be made after a third party has sued the partnership business. Even if it's a partnership.