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Partnership Firm Registration
Structured. Flexible. Cost-Effective.
A Partnership Firm is a popular form of business entity where two or more individuals join hands to run a business and share profits. Governed by the Indian Partnership Act, 1932, it is ideal for small and medium businesses, professionals, and service providers who value flexibility, ease of operations, and shared responsibilities.
🔹 What is a Partnership Firm?
A partnership firm is formed when two or more persons come together with a written agreement (called a Partnership Deed) to carry on a business. Each partner contributes capital, shares responsibilities, and profits or losses in a pre-agreed ratio.
Although registration of a partnership firm is not mandatory, a registered partnership firm enjoys additional legal advantages, especially in case of disputes, suing third parties, or being sued.
🧾 Documents Required for Partnership Registration
- PAN Card of all partners
- Aadhaar Card of all partners
- Passport Size Photographs
- Address Proof of Business (Electricity Bill, Rent Agreement)
- Partnership Deed (Drafting support provided)
- Bank Statement or Cancelled Cheque of partners
- Email ID and Mobile Number for verification
🛠️ What We Offer – End-to-End Registration ServicesAt Great Things – Tax & Advisory Consultants, we assist in setting up your sole proprietorship quickly and correctly.
Our package includes:
• Drafting of customized Partnership Deed
• Registration with Registrar of Firms (if required)
• PAN & TAN Application for the firm
• MSME (Udyam) Registration
• GST Registration (if applicable)
• Shop & Establishment License (if required)
• Support in opening a Current Bank Account
• Accounting, TDS, and Income Tax Filing support
💡 Optional Add-Ons:
• Business email, domain & branding tools
• Logo & invoice design
• Annual compliance advisory
• Trademark Registration for firm name or logo
🚀 Why Choose Partnership Firm?
- Easy to start with minimal capital
- Shared responsibilities and risk among partners
- Simple decision-making with flexible terms
- Minimal compliance compared to LLP or Pvt Ltd
- No requirement of minimum paid-up capital
⚠️ Limitations of a Partnership Firm:
- Unlimited Liability of all partners
- No separate legal entity (firm and partners are legally the same)
- Cannot issue shares or raise equity capital
- Risk of internal disputes among partners
- Difficult to attract institutional investors
📌 When Should You Consider a Partnership?
- When you and your co-founders want to operate informally yet legally
- For family businesses, consulting firms, or agencies
- When your business doesn’t require high-scale funding in the early stages
- If trust and mutual understanding among partners is strong