fbpx
Telangana #1 Best tax compliance platform
ThinkBiZ FilingsThinkBiZ FilingsThinkBiZ Filings
+91 8977983666
info@thinkbizfilings.com
Hydrabad,Telangana
ThinkBiZ FilingsThinkBiZ FilingsThinkBiZ Filings

Quickly Start

Your Partnership Firm Registration

Do you have partners to share the profits and losses? Register Partnership Firm at INR 4999/- only.

Free Consultation
Get Quote Instantly in a Minute!

What is Partnership Firm?

All you need to know

Partnership firm registration is required when two or more parties sign a formal agreement to manage and operate a business and share both the profits and losses.

Registering a Partnership is the right choice for small enterprises as the formation is straightforward and there are minimal regulatory compliances.

The Partnership Act has been in existence in India since 1932, making partnerships one of the oldest types of business entities in India. A partnership firm can even be registered after it is formed. There are as such no penalties for non Registration of a Partnership firm. But unregistered Partnership firms are denied certain rights under section 69 of the Partnership Act that majorly deals with the effects of non Registration of Partnership firms.

Partnership firms are created by drafting a Partnership deed amongst the Partners and by a registered Partnership deed, ThinkBiz Filings can help you to start a Partnership firm in India.

Wish to start a more formalised Firm? Get to know more on LLP Registration here.

Contents of Partnership Deed:

  • The name of the firm
  • Name and details of all partners
  • Date of commencement of business
  • Duration of the firm’s existence
  • Capital contributed by each partner
  • Profit/loss sharing ratio
  • Interest on capital payable to partners
  • The extent of borrowings each partner can draw
  • Salary payable to partners, if any
  • The procedure of admission or retirement of a partner
  • The method used for calculating goodwill
  • Preparation of accounts of the firm
  • Mode of settlement of dues with a deceased partner’s executors
  • The procedure to be followed in case disputes arise between partners

ThinkBiz Filings  is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad. Incorporating a Partnership Firm and registration of Partnership deed is easy, seamless, cheapest and quickest with ThinkBiz Filings! Apart from a Partnership Firm, ThinkBiz Filings also helps entrepreneurs with Private Limited Company Registration, Public Limited Company Registration, LLP Registration, HUFOne Person Company and Proprietorship Firm Registration easily. You may get in touch with our compliance manager on 09704561215 or email info@Thinkbizfilings.com for free consultation.

Partnership Firm Registration Fees


Choose Your Package
Our Pricing
Our Pricing
Our Pricing

Compliance required for Partnership Firm

All you should know about necessary compliances

GST Registration

Every Private Limited Company is required to get their GST Registration within 30 days of Business Incorporation in India. GST Registration is needed when the turnover is more than INR 40 lakhs or INR 20 lakhs in Special category states or If the business supplies goods intra-state or Provides goods and services online.

GST Return

Once a Private Limited Company gets registered under GST, it becomes necessary to file GST returns for Private Limited Company. As filing of GST returns is mandatory for all the registered Taxpayers including companies. GST returns can be filed monthly, quarterly or yearly depending upon the types of GST returns form you are filing.

Accounting

Every Pvt Ltd Co. shall maintain proper books of accounts which shall represent an accurate and fair view of the state of affairs of the company. Accounting is necessary for the statutory audit, Annual filing and IT return filing which is mandatory. These books of accounts shall be audited by the auditor appointed by the company.

ROC Annual filing

A Private Limited Company is mandatorily required to file 3 forms every year. Filing has to be done regarding submission of documents of financial statement, i.e. balance sheet, P&L account in form AOC 4 and annual return in form MGT-7. Company report about auditor’s appointment to ROC in Form ADT 1. Know more: ROC annual filing.

IEC Registration

All the Private Limited Company which are engaged in Import and Export of goods require to register the Import Export Code. IE code has lifetime validity. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.

TM Registration

Registering a Private Limited Company with a name does not provide complete protection to the name or brand name. Ultimate protection for a business name is secured only by Trademark Registration of same. By trademark registration, you may get the ownership of your Pvt Ltd Co. name or brand name or logo etc.

Compliance required for Partnership Firm

Quick Checklist

  • Photograph of all the Directors and shareholders
  • PAN Card of all the Directors and shareholders
  • Self-Attested ID Proof of all the Directors (Driving License/Passport/Voter ID)
  • Electricity Bill or any other utility bill for the address proof of the Registered Office

Benefits of Partnership Firm

Points to make your decision easy

No Minimum Capital

No minimum capital is required to form a Private Limited Company. A Private Limited Company can be registered with a mere sum of Rs. 10,000 as total Authorized Share capital.

Separate Legal Entity

A Pvt Ltd Co. is a separate legal identity in the court of the law, meaning assets and liabilities of the business are not same as the assets and liabilities of the directors. Both are counted as different.

Limited Liability

If the company undergoes financial distress because of whatsoever reasons, the personal assets of members will not be used to pay the debts of the Company as the Liability of the person is limited.
0
No products in the cart.