Partnership Formation

Hassle free apply for formation of your Partnership just staring at Rs.2,599/-

Partnership Formation

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Partnership Formation

Partnership is an ideal form of Business of small or medium size of Business in India. A Partnership is a form of business which is created by two or more persons who have mutually consented to share business profits and losses. A Partnership may be formed by two or more people in terms of the provisions of Indian Partnership Act, 1932. Partnership is an separate entity created by its partners by entering into an Agreement called as “Partnership Deed” or “Partnership Agreement” which contains the terms & conditions, rights and duties, profit sharing ratio, etc.

How to Start Partnership

In India, the provisions of Partnership formation are covered under Indian Partnership Act, 1932. There are two types of Partnerships formations in India. One is Registered Partnership and another is Unregistered Partnership. The provisions of Indian Partnership Act, 1932 requires execution of Partnership Deed only. The Act does not mandates the Registration of Partnership Deed or Partnership Firm. Hence, various partnerships are operating as Unregistered Partnership.

Start / Register Your Partnership Firm

SetupTrade.com is always available to help you to start your Partnership Formation across India at very reasonable cost. Our well-trained team of professionals is ready to support you 24×7 to start the formation of your Partnership and to complete the compliance at very competitive price. You may book a call for free consultation from our professional team and resolve your queries / enquiries free of cost. Our experts shall help you to prepare the required documents and obtain the required registration for your Partnership.

Benefits of Partnership Formation

Brief about benefits

Mutual Consent

Partnership is created with the consent of two or more persons. Hence, Partnership enjoys the advantage of more expertise and funds. Minimum 2 maximum 20 partners may form Partnership.

Minimum Cost

Partnership Formations is most budgeted process as it requires minimum cost for process of formation. Minimum cost makes partnership more suitable for small and medium business.

Joint Hands

More joint hands create many advantages to Partnership such a increased funds, different expertise, many ideas, mutual support and more business growth.

Profit Sharing

Partners of the Partnership Firm receives the profits of Partnership as shared in terms of the Profit Sharing Ratio as agreed and mentioned in the Partnership Deed.

Organisational Growth

Different business expertise supports major organisational growth. Different responsibilities generates increased efficiency among the partners and increase business growth.

Minimum Compliance

Indian Partnership Act, 1932 does not mandates the registration. Hence, Partnerships does not need to meet the complexities. The Partnerships enjoys minimum compliance burden.

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Our Working Process

1. Book Free Consultation

Our Experts are available to consult you freely. Book a call back and get free consultation over queries.

2. Share Documents

Once satisfied with our consultation, arrange and share all the required documents with us.

3. Payment Online

Choose an easy mode and make online payment to enable us to process your assignment.

4. Filing with Authority

When all the documents are completely ready and our payment is done, we shall proceed with Authorities.

5. Assignment Completed

As soon as authority gives approval, your assignment is completed.

Congratulations from us..!!

Documents Required

CHOOSE THE PERFECT PLAN

Choose the most suitable plan for to start the process of starting your Partnership Business in India

Starter

₹ 2,599 /-

Partnership Deed Drafting
Stamp Paper Purchase **
PAN Card Application
MSME Udyam Registration
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Best for Small Business

Order Now

Master

₹ 4,999 / -

Partnership Deed Drafting
Stamp Paper Purchase **
PAN Card Application
TAN Application
MSME Udyam Registration
GST Registration
3 Months GST Return Filing ***
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Best for GST Registration

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Grand

₹ 15,999 / -

Partnership Deed Drafting
Stamp Paper Purchase **
PAN Card Application
TAN Application
MSME Udyam Registration
GST Registration
12 Months GST Return Filing ***
Trademark Application in 1 Class
ISO 9001:2015 Certification
24x7 Premium Support

Best for Business Growth

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** We provide Stamp paper purchase support only. Stamp duty charges payable by client on actual basis.

*** The Package includes only return filing, no Accounting is included.

#Note: The above packages are available for formation of un-registered Partnership. Charges for Partnership Firm registration with Registrar of Firms of the respective states are applicable extra. However, Registration with Registrar is an optional process after partnership firm documentation.

Still not sure, what to choose..???

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More About Partnership Formation

Brief about benefits

No-Panelty on No-registration

Unregistered Partnership enjoys the liberty of non-registration as it is not mandate to Register Partnership for commencement of Business operations.

Better Decision Making

More brains may take better decisions. Hence, Partnership is most preferred form of Business where more perople work together and take better decisions for growth.

Less Government Compliance

Partnership does to require to file any annual return and its accounts are not required to be mandatorily audited unless the basic requirement of Income Tax Act, 1961 attracts.

Unlimited Liability

Liability of Partners of a Partnerships Firm is unlimited against the losses of the Partnership Firm. The unlimited liability provision make each of the partner personally liabile.

Lesser Legal Benefit

Unless the Partnership Firm is registered, partners cannot file suit against partnership firm or other partners to enforce any right. Also, no suit can be filed on behalf of the firm against third party for enforcement of any right.

Less Public Trust

As the unregistered Partnership details or financial records are not publicly available, it is difficult for a partnership firm to generate Trust and Authenticity among general public..

Frequently asked questions

How many partners are required to start a partnership?

Minimum 2 Persons are required to form a partnership firm in India.

How Can I form a Partnership Firm Business in India?

SetupTrade.Com is always available to help you to Register a Partnership Firm Business in India. Just Choose your plan, make payment and our team shall start the process of formation of your Partnership Firm.

How much Capital is required to Start Partnership Firm?

A Partnership Firm Business may be started with any amount of Capital. Partners invest their money in the Ratio.

Does a partnership deed need to be in writing?

Yes, to form a partnership legally, there should be an agreement or deed in writing between and among the partners.

Who is the Partner?

Two or more persons who execute and agreement of partnership are called Partner as singly and Partners as collectively.

Is Income Tax Return of Partners and Partnership are required to be filed separately?

Yes, As per the Income Tax Act, 1961, the Income Tax Returns of Partnership is filed separately and the Income Tax Returns of Partners are filed Separately.

Who controls the affairs of the Partnership?

Partners of the partnership controls and manage the day to day affairs of the Partnership in terms of the duties and responsibilities as assigned in Partnership Agreement.

How much time is required to Complete the Formation Process?

Generally, 3-5 days are required to complete the process. However, in some cases the time may vary.

Do I need to personally present for the process?

No, You do not need to be physically present for completion of process.

Why should Partnership Firm go for Trademark Application and ISO 9001 Certificate?

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What are the post registration things I need to remember?

Post registration, you need to open a current account with your preferred Bank. You must get your Bill Books Printed and start maintaining records of Sale, Purchase, Receipts, Payments, Expenses, etc.

What other registrations do I need to obtain for Partnership?

After formation, you are suggested to obtain GST and MSME Registration. Some specific businesses require specific registrations or Licenses, such as:

FSSAI License
Drug License
Labour License
EPF Registration
TAN Registration, etc.

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