Partnership Firm Registration
Take a leap of faith with your trusted ones!
Partnership Firm Registration
Get StartedWhat is Partnership Firm?
Partnership firm represents a business entity that is formed with a purpose of making a profit from the business. Two or more parties come together with a formal agreement (known as Partnership Deed) to own and manage the business. The risk and responsibilities are shared amongst the partners that shred the burden of an individual partner. Also, when two comes together, more capital and expertise are combined that helps to reach the business goal(s) easily.
Partnership Act, 1932 defines the structure of a Partnership firm by providing all the necessary provisions to run the same. The Act validates both registered and unregistered partnership firms in India. However, an unregistered partnership has few shortcomings that attract partners towards Partnership Firm Registration. But, one can overcome it by registration firm anytime after it is formed.
Benefits of Partnership Firm
Documents required for formation of a Partnership Firm
Need assistance? Don’t worry, experts are here to help!
Call us at: 1800 313 4151 or Email us: support@legalwiz.in
How to choose a name?
Establish Partnership in 3 Easy Steps
Process to establish Partnership Firm
Compare Related Services
Compare different business structures to choose the right entity type
Private Limited Company | One Person Company | Limited Liability Partnership | Partnership Firm | Proprietorship Firm | ||
---|---|---|---|---|---|---|
Act | Companies Act, 2013 | Companies Act, 2013 | Limited Liability Partnership Act, 2008 | Indian Partnership Act, 1932 | No specified Act | |
Registration Requirement | Mandatory | Mandatory | Mandatory | Optional | No | |
Number of members | 2 – 200 | Only 1 | 2 – Unlimited | 2 – 50 | Only 1 | |
Separate Legal Entity | Yes | Yes | Yes | No | No | |
Liability Protection | Limited | Limited | Limited | Unlimited | Unlimited | |
Statutory Audit | Mandatory | Mandatory | Dependent | Not mandatory | Not mandatory | |
Ownership Transferability | Restricted | No | Yes | No | No | |
Uninterrupted Existence | Yes | Yes | Yes | No | No | |
Foreign Participation | Allowed | Not Allowed | Allowed | Not Allowed | Not Allowed | |
Tax Rates | Moderate | Moderate | High | High | Low | |
Statutory Compliances | High | Moderate | Moderate | Less | Less | |
Know More | Know More | Know More | Get Started | Know More |
The formation and Registration of a Partnership Firm in India
Frequently Asked Questions
Call us at: 1800 313 4151 or Email us: support@legalwiz.in
happy customers
Here’s what keeps us going strong.