Partnership Registration

Make registering a partnership quick and easy!

Easy, Transparent, and Fastest Way to Register a
Partnership Firm!

₹ 0 + Actual govt fees
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Plus get full support to make your Business Successful
Tools to create effective digital presence
Automated Tools to help you Retain Customers
Learn how to comply & avoid penalties

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Register and get free software We will Register for you Grow Your Business faster
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+ Additional Govt Fees
₹6,999+GST
+ Additional Govt Fees
₹9,499+GST
+ Additional Govt Fees
Tutorial Videos To Register Business Yourself
Tutorial Videos To Register Your Business Yourself (Lifetime Access)
Entrepreneur Success Training
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Accounting and Invoicing Software
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CRM, Website Builder Software
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Essential Tools to grow your business
Professional Consultation
Consultation with Professional Chartered Accountant or Company Secretary
Social Media Presence
We will setup your Google my business, Facebook and Instagram page
Web Presence
We will provide you with a domain name, website and a professional business email
Setting up your accounting process
We will help you in setting up your accounting process
Accept Online Payments
Along with the website, get Payment Gateway Setup to accept online payments from your customers
GST Certificate
Goods & Services Tax is required if you are taking online payments from clients.
UDYAM/MSME Certificate
Take advantage of the government's incentives like tax exemptions, duty reductions, competitive interest rates and free reservations for new products.
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What is Partnership?

A partnership is a form of business where two or more people share ownership (Profit/Loss), as well as the responsibility for managing the company and the income or losses the business generates. It can be generated on the stamp paper. The firm can have maximum up to 50 partners

Why Choose Partnership?

A partnership, as opposed to a corporation, is fairly simple to establish and run. No forms need to be filed or formal agreements drafted (although it is advisable to write a partnership agreement in the event of future disagreements).

Advantages of Forming a Partnership


Collaboration
Tax advantages
Simple operating structure
Flexibility
Acquisition of capital

Disadvantages of Forming a Partnership

Conflict with partners
Authority of partners
Unlimited liability
Vulnerability to death or departure
Limitations on transfer of ownership if not registered

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Documents Required For Partnership Registration

Proprietor

  • PAN (Permanent Account Number) of all proposed directors (Self attested)
  • Identity Proof (Voter Id, Passport, Driving License) of all proposed Directors. (Self attested)
  • Latest passport size Photographs of all directors.
  • Address proof with Present address Mobile bill OR Telephone bill OR Electricity bill OR Bank Statement not older than 1 Month (Self attested)

One Person Company

  • PAN (Permanent Account Number) of all proposed Share Holders (self attested)
  • Identity Proof (Voter Id, Passport, Driving License) of all proposed ShareHolders (Self attested)
  • Latest passport size Photographs of all Share Holders.
  • Address proof with Present address Mobile bill OR Telephone bill OR Electricity bill OR Bank Statement not older than 1 month (Self attested)

Private Limited

  • Electricity Bill along with Rent Agreement OR Ownership proof and NOC

Public Limited

  • INC 14
  • INC 15
  • Projected Income and Expenditure Account
  • Grounds for making application

Partnership Firm

LLP

NGO

Register your Business Now


Get Started

KEY FEATURES TO BE NOTED

Easy to Start

Many successful business today are outcome of solid partnership, like Apple, Microsoft. All started with trust and transparency. Partnership firms are one of the easiest to start. The only requirement for starting a partnership firm in most cases is a partnership deed. Hence, a partnership can be started on the same day. it is not important to register, except that in such case firm is deprived of certain legal benefits. We encourage you to register the firm for better legal standing.

Business Name

Since the name of a Partnership firm is not registered, a Partnership firm can choose to have any name - as long as it does not infringe on a registered trademark. However, since the name is not registered, any other person can also use the same business name unless trademark registration is obtained.

Taxation..

Partnership firm has a different legal identity from that of its partners, and whether registered or unregistered, tax return in ITR 5 has to be e-filed. Even certain payment made to partners are allowable as expense. Tax rate is 30% up to income of 1Cr. It is simple to file. We can teach you

Audit not Required.

Your audit is required as per the Income tax Law which says if your turnover is over 5 cr (in case not more than 5% transaction is in cash) except for professional, it is 50 lacs. If you are under presumptive taxation, regardless of the annual turnover audit is not required. Do not worry it is easy to get audited at nominal cost. We will help you to maintain your accounts free in our software. Book keeping helps your business grow

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Why FoundersCart exists?

Now, more than ever, the world needs entrepreneurs. They are the ones who take risks to achieve their dreams. They have the power and courage to change lives.


But here is the biggest challenge entrepreneurs face!

It's tough to know where to start, what resources are available, and how to take the business idea from concept to reality.

The journey is full of challenges , there is a lot of competition, and the odds are stacked against survival.

Keeping entrepreneurial moral is difficult, statistics say over 80% entrepreneurs quit within the first two years.


FoundersCart was created by a team of Chartered Accountants with an Idea to help entrepreneurs overcome these challenges.
We observed over 10,000 businesses and break down the path to success into key actionable steps. We curated selection of the best tools and resources that have helped many businesses grow faster. From CRM, web design templates and branding tools, to e-commerce platforms and marketing resources, we've got everything you need to make your business successful. Plus, our community of entrepreneurs is here to support you every step of the way.

So if you have an entrepreneurial spirit, now is the time to put it to good use. The world needs your ideas, your energy, and your passion. Together, we can make a difference.

Frequently asked questions

How many people are required to start a Partnership firm?

A minimum of two Persons is required to start a Partnership firm. A maximum number of 20 Partners are allowed in a Partnership firm.

What are the requirements to be a Partner in a Partnership firm?

The Partner must be an Indian citizen and a Resident of India. Non-Resident Indians and Persons of Indian Origin can only invest in a Proprietorship with prior approval of the Government of India.

What are the documents required to start a Partnership firm?

PAN Card for the Partners along with identity and address proof is required. It is recommended to draft a Partnership deed and have it signed by all the Partners in the firm.

What is the capital required to start a Partnership firm?

There is no limit on the minimum capital for starting a Partnership firm. Therefore, a Partnership firm can be started with any amount of minimum capital.

How will FoundersCart help me start a Partnership firm?

FoundersCart Associate will understand your business requirements and help you start a Partnership firm by drafting the Partnership deed. Based on the requirements, FoundersCart can also help register the Partnership deed with the relevant Authorities to make the Partnership Firm a Registered Partnership firm.

How to open a bank account for a Partnership firm?

To open a bank account for a Partnership firm, a registered Partnership deed along with identity and address proof of the Partners need to be provided.

Will my Partnership firm have a separate legal identity?

No, a Partnership firm has no separate legal existence of its own i.e., the Partnership firm and the partners are one and the same in the eyes of law. Liability of the Partners is also unlimited, and the partners are said to be jointly and severally liable for the liabilities of the firm. This means that if the assets and property of the firm is insufficient to meet the debts of the firm, the creditors can recover their loans from the personal property of the individual partners.

Will my Partnership firm have a Certificate or Incorporation or Registration?

If the Partnership firm is registered, the Partnership deed will be registered and a Registration Certificate will be issued by the Registrar of Firms.

How to register the name of a Partnership firm?

Partnership firms are business entity that are owned, managed and controlled by one person. So Partners cannot be inducted into a Partnership firm.

How can I transfer my Partnership firm?

There are restrictions on the transfer of ownership interest in a Partnership firm. A Partner cannot transfer his/her interest in the firm to any person (except to the existing partners) without the unanimous consent of all other partners.

Can other people invest in a Partnership firm?

Indian Nationals and Indian Residents are allowed to invest in a Partnership firm without any approval. Usually those who invest in the Partnership firm become a Partner of the firm and in the absence of any agreement to the contrary, all partners will have a right to participate in the activities of the business.

What are the annual compliance requirements for a Partnership?

Partnership firm will have to file their annual tax return with the Income Tax Department. Other tax filings like service tax filing or VAT/CST filing may be necessary from time to time, based on the business activity performed. However, annual report or accounts need not be filed with the Ministry or Corporate Affairs, which is required for Limited Liability Partnerships and Companies.

Is audit required for a Partnership firm?

It is not necessary for Partnerships to prepare audited financial statements each year. However, a tax audit may be necessary based on turnover and other criterion.

Can I later convert my Partnership firm into a Company or LLP?

Yes, there are procedures for converting a Partnership business into a Company or a LLP at a later date. However, the procedures to convert a Partnership firm into a Company or LLP are cumbersome, expensive and time-consuming. Therefore, it is wise for many entrepreneurs to consider and start a LLP or Company instead of a Partnership firm.

In which cities does FoundersCart provide partnership registration?

FoundersCart can help you prepare your partnership deed and guide how to register them locally with your office of registrar. We have done partnership registration in Mumbai, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Ahmedabad, Kolkata, Surat, Pune, Jaipur, Lucknow, Kanpur, Nagpur and other Indian cities.

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