Partnership Firm Registration- Benefits, Documents Required, and Process 

JR Compliance- an award winning compliance service provider assures to assist you in partnership firm registration by maintaining the flexibility and bright outlook at the most reasonable price, while you can emphasize on other fundamental business aspects. 

Get your partnership firm registration done immediately with our experts!

What is a Partnership Firm?

In India, Partnership firms have been existing since 1932, which makes it one of the oldest types of business entities.

A partnership firm refers to the business structure that includes two or more individuals who agree to manage and operate the business according to the objective mentioned in the Partnership Deed (which is either registered or not).

Further, in a Partnership firm the members/partners of the firm share the liability and profit of the firm in an established ratio.

We are confident to meet our clients expectations by emphasizing on qualities such as integrity and transparency, to eliminate the need of our client to reach out to any third-party. 

Is Partnership Firm Registration Mandatory?

It is wise to register your partnership firm to enjoy benefits such as legal redressal, sharing the burden, etc. For instance, if the firm is not registered, a partner can not sue the firm or other partners.

Also, to bring legal redress by judicial action, it is necessary to register your partnership firm.

Thus, the registration of partnership firms offers various benefits to a firm.

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Benefits of Partnership Firm

As compared to a limited company, it is unchallenging to manage a partnership firm. Further, there is no need to complete the Corporation Tax Return, yet, you have to maintain the proper record of income and expenditure. 

Along with this, the process of accounting for a partnership firm is unchallenging, unlike limited companies. Thus, a partnership firm needs to maintain fewer records.

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Unlike a sole proprietor, partners in a partnership firm share the burden of liability and work. Managing a business alone could be stressful financially as well as mentally, but, partners in a partnership firm do not need to worry about it. 

Apart from that, it allows each partner to utilize their expertise, knowledge, skill, and contacts that enhance the chances of success of the partnership firm.

To commence a partnership firm, you need two partners. Also, it is not necessary to register the partnership firm which makes it effortless to establish a partnership firm (though it would be wise to register it to avail benefits).

Apart from fewer legal requirements to commence the partnership firm, partners can smoothly register themselves for self-assessment online. That makes partnership firm registration easy.

Commencing and operating a partnership firm is economical as compared to other forms of business because each partner will contribute their share of capital.

This will not put the burden on an individual like a sole proprietorship.

Documents Required For Partnership Firm Registration

Partnership firm registration

During registration, you must procure partnership firm registration form.

For identity and address proof, it could be a Voter ID Card, PAN Card, Driving License, Passport, etc.

If the premises are rented, you need to provide a rental/lease agreement.

Affidavit proclaiming intention of partnership deed.

Replica of partnership deed which should be signed by all the partners.

Submit company’s PAN card.

Systematic Registration Process of Partnership Firm 

Below mentioned is the process of partnership firm registered under the Indian Partnership Act, 1932,

The appropriate name of the partnership firm will be chosen ensuring that it is available and abides by the laws.

After choosing the firm's name, the Form 1 will be filled.

Along with submitting the form 1, the specimen of an affidavit will be submitted.

Along with all the required documents the partnership deed will be submitted.

The documents reflecting the principal place of business needs to be submit.

If the documents comply with the requirements, registrar will register the firm and registration certificate will be generated.

As mentioned, registration of the partnership firm goes together with special benefits. That’s why it is advisable to register your partnership firm. Though, the process of documentation and filling the registration form requires expert assistance and knowledge.


Consequently, you can reach out to our partnership firm registration experts who will ensure the finest documentation and registration process without any inaccuracy. Thus, preventing delays in the registration process. We-JR Compliance makes everything effortless for our clients to complete the registration process by bringing more flexiblity. 

No matter what is the size of your company, we will definitely find resources you will need.

Our Role in Registration of Partnership Firm

JR Compliance will assist you in partnership firm registration process from the first to last step.

Our expert team will assist you in the process of documentation.

Our partnership firm registration expert guarantees to complete the registration formalities without any hassle.

You can expect proper follow-ups and acknowledgment from us. 

Being a leading compliance service provider, our team will keep you updated regarding the status of your application.

We will invest our sustained efforts in providing the finest solution to your concerns.

Providing assisting in partnership firm registration

Conclusion

To recapitulate, as mentioned, registration of a partnership firm comes with special benefits. However, it is difficult to take hold of every aspect of the registration process. That’s why you require a consultancy firm that guarantees to complete the registration process by taking a hold of every activity associated with it.

At JR Compliance- we have a professional and experienced team, who will use skills and expertise to guide and direct you throughout the registration process. We care about what we are providing to our clients, that's why we are equipped with experts and necessary resources to provide you complete assistance.

Contact our experts immediately for standard services.

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