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PARTNERSHIP FIRM REGISTRATION

Partnership firm is put together by two or more individual in the interest of sharing the resources to initialize the business and share the resultant profit generated by the business by the mutual effort of the people involved or to reap the benefits of one person who has acted on behalf of the others. The above is established in terms of written agreement marking the commitment of the individuals involved by “Partnership deed” is governed by Partnership Act, 1932. The thus established agreement would signify business, politics, knowledge or individual level relationship professionally.

The deed would imply basis of complex negotiations and how they are addressed. An individual part of the set agreement is referred to as a partner and the members are collectively addressed as partners in official terms thus the agreement in turn is “Partnership deed” which signifies all the above in legal terms for the benefit of the partners.

A silent partner is an individual that is a member of the deed, but does not directly involve in the functional and decisional point of view in the management, but reaps just the profit generated by the actual business setup.

At Unilex Consultants we provide you a hassle free registration process which would be dealt by our professionals within a time frame of 8-10 working days and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.

Advantages of having partnership firm


Limited legal identity -

The firm would have limited tax exposure identity apart from the actual individuals involved in the deed.

Binding the firm -

All individuals in the deed can act to bind the firm or one individual can act to represent the team.

Legally enforceable -

The written agreements are legally enforceable meaning they are valid as long as they go by Contract Act of Indian Government under Partnership Act of 1932.

Partners Count -

In-order to establish a partnership firm, the minimum there must be 2 individuals involved to maximum of 50 individuals can be the part of the firm to be established.

Documentation required for Partnership Firm:


PAN card of Partners

Address Proof of Partners

Utility Bill as Business Address Proof

Rent/ Lease agreement of business address and NOC from owner (if)

Partnership Deed

Sale Deed (if owned)

Current account bank details of firm

NOC

Call Us at : 0120-4134791

OR


PACKAGES


Basic

2999/-
Inclusive all taxes

Drafting Partnership Deed
PAN&TAN

Premium

11999/-
Inclusive all taxes

Drafting Partnership Deed
Deed Registration
PAN & TAN
GST Registration
GST return filing for 1 year
Trademark Filing
Udyog Aadhaar Registration (MSME)

Standard

7999/-
Inclusive all taxes

Drafting Partnership Deed
Deed Registration
PAN & TAN

Note:

  • The above price may vary due to stamp duty in various states
  • Trademark filing excludes government fees
  • GST return filing price may vary depending on number of invoices

Process involved in registering your firm :

1

Analyzing and understanding your business model

The first step is to understand your business core in order to know the terms and conditions within and outs that your firm requires.
2

Preparing the documentation

Our team prepares the documentation required for your firm with clauses and applies the same with the concerned registrar.
3

Obtaining the PAN and TAN

Once the application is accepted and the certificate of incorporation is issued by the registrar, the PAN and TAN are applied under your firm name.

Why Partnership firm ?

They are the best way to kickstart your business as they are minimal and cost effective.



Legal way of pooling in resources to put forward the business.



The company would be flexible as the partners are limited and the decision with prior notice can be made to be in effective with a short period of time with the consent of the partners.

The deed acts as a protection for equal rights and also against fraud.The name must have Nidhi Limited.

Equal distribution of risk among the partners.



Type of Partnership firms in India

Unregistered Partnership Firm
In this scenario the partners would proceed with the operations of the business as stated in the agreement and the firm is not established i.e registered with the registrar.



Registered Partnership Firm
In this scenario we are looking at a setup where the actual firm is registered under the registrar and falls under the rules of the jurisdiction hence the total set up is legally for the place of business of the firm.



Is Partnership firm registration mandatory ?

It is not mandatory according to Indian law to register a partnership firm but, it is advisable as the benefits are there for functioning as a registered partnership firm, this does not directly mean that it discredits the transaction being done in unregistered agreement basis establishment.

  • Privilege to firm : Only a legally registered firm is entice to take legal actions on third party in-case of any such situation arises and at
            the same time it is easy to mould the business and branch out.
  • Privilege to partners : The partners are legally covered in terms of law as in the case of registered partnership firm, the internal dispute can be settled in a fair legal         manner and this applies for the same with third party matters too.
  • Privilege to creditors : In this case, the money the firm owes to the third party would be the responsibility of all the individuals who are part of the set firm, hence they         are liable equally.
  • There must be a minimum of 3 board directors.
  • Privilege to incoming and outgoing partners : The actual matters involving the incoming and outgoing partners covering both death and retirement. They can fight         for the privileges they had with the company, but this is only backed up legally if the firm is registered at the first place.

Mandatory requirements for Partnership firm formation

The Name decided for the firm.



The place where the firm would be established out of.


The list containing the Name, address and date of joining of the partners for forming the firm.

If the firm is started to address for a particular period alone then the time frame should be mentioned.

The actual objective of the firm must be provided if at all any are present.

FAQ’s About Partnership Firm

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Satisfied Entrepreneurs

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Team strength

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Professional Experience

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Services delivered

WHY CHOOSE UNILEX?

Well with highly qualified professionals in our team along with the technology gives edge over others, as a result highly rated professional services with full customer satisfaction is assured. We help to grow and manage your business letting you to concentrate on your business.

MSME REGISTERED
Unilex is registered with the Ministry of Micro, Small & Medium Enterprises (MSME), a part of Government of India.

ISO 9001:2015 CERTIFIED
Unilex is a ISO certified body, assuring the quality professional services to aspiring startups

MONEY BACK GUARANTEE
Subject to our terms and conditions, money back is guaranteed if we failed to give 100% customer satisfaction

GOOGLE PARTNER
Unilex is a Google Partner. Google Partners are tasked with helping businesses market their service or products online.

Testimonial Slider

  • “With a proficient team of professionals, Unilex provides a ready solution for every business related problem and never compromises on the final quality of services provided”. Navnit Kachalia
    Chairman and Managing Director, Navnit Group of
    Companies, Mumbai

  • “Getting your work done through Unilex is surely giving it in safe hands. Without a second thought, get associated with them”.

  • “Unilex has its unique way of meeting all your legal compliances and that too at a comparatively low cost.” Sudhir Budhrani
    Managing Director, Sudhir Life Sciences Pvt. Ltd.
    Indore

  • “The best part about getting your work done through Unilex is, that they don’t share your trouble, indeed they make you trouble free!”

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