Offers and discounts *
Use code WELCOME10
and get 10% off your first service purchase!
Save 18% by providing GST Number.
Not registered yet? Get it now
Partnership Firm
Register your Partnership Firm online with Bharat e-Filing for quick, simple, and affordable setup. Get expert assistance in drafting your partnership deed, filing registration, and obtaining PAN & TAN — all with complete legal compliance and zero hassle.
Filing done within 24 Hours
100% Money Back Guarantee
How to select options
Partnership Firm Registration
Get your Partnership Firm registered with a complete package including Partnership Deed drafting, PAN application, Not registered yet?
Stamp Paper (Price Not Included)
Price does not includes Stamp Paper Price
Documents Required for Partnership Firm
Business & Customer Details
GSTIN of the supplier and recipient (if registered), along with business name and address, are mandatory on all invoices.
Invoice Information
Each invoice must have a unique serial number (up to 16 characters), date of issue, and digital or physical signature of the supplier.
Goods/Services Description
Include detailed description of goods/services, HSN/SAC codes, quantity, unit, taxable value, and the applicable CGST, SGST/UTGST, or IGST rates.
Place of Supply
Mention the Place of Supply clearly, as it determines whether the transaction is interstate (IGST) or intrastate (CGST + SGST).
For e-Invoicing
Must be registered on the Invoice Registration Portal (IRP). Invoice data must be uploaded in JSON format, manually or via ERP/GSP. After validation, the portal returns a unique Invoice Reference Number (IRN) and a QR code.
Official Portals
1.GST e-Invoicing Portal (IRP)
2.GST e-Way Bill Portal
Get Expert Consultation
Partnership Firm
Partnership Firm Registration with Bharat e-Filing
A Partnership Firm is a popular business structure in India, favoured for its simplicity, flexibility, and collaborative approach. It enables two or more individuals to pool their resources, skills, and expertise to run a business efficiently. Formalizing your partnership through registration is a critical step towards ensuring legal recognition and operational credibility.
At Bharat e-Filing, we simplify the Partnership Firm Registration process. Our online service is designed to make the registration process quick, efficient, and hassle-free. Whether you’re a new business looking to formalize your partnership or an existing unregistered partnership firm, our team of professionals provides expert guidance to navigate the registration requirements with ease and affordability.
What is a Partnership Firm?
A Partnership Firm is an agreement between two or more individuals to jointly run a business. These partners share responsibilities, risks, and profits based on mutually agreed terms. Partnership firms are recognized in a wide range of industries due to their flexible structure and fewer regulatory burdens than corporations. A partnership can cater to various sectors, from small businesses to professional practices.
Legal Framework for Partnership Firm Registration
In India, the operation of partnership firms is governed by the Indian Partnership Act, 1932. The formation of a partnership requires a written agreement between the partners, known as the partnership deed. This document outlines the terms of the partnership, such as the roles, profit-sharing ratio, capital contributions, and the duration of the partnership.
The Partnership Deed: Its Significance and Importance
A Partnership Deed is a legally binding agreement that sets out the key terms of the partnership. This document is essential as it clarifies the roles, responsibilities, and obligations of each partner. A well-drafted partnership deed can help avoid conflicts and misunderstandings among partners and is considered legal proof of the partnership’s existence. Additionally, it serves as a reference in case of disputes and legal proceedings.
Partnership Firm Registration
Registering your partnership firm with the Registrar of Firms ensures that the partnership has legal standing. While registration is not mandatory under the Indian Partnership Act, it is highly recommended as it provides various benefits, such as the ability to sue third parties and claim set-off. The process involves submiƫng a partnership deed and firm details to the registrar, typically in the state where the business is based
Who Can Be a Partner in a Partnership Firm?
A partner in a partnership firm must meet specific legal requirements. The key eligibility criteria include:
- Mental and Legal Fitness: The partner must be of sound mind, above the legal age, and legally capable of entering into contracts.
- Registered Entities: A registered partnership firm can join forces with other businesses or entities.
- Companies and Trusts: Companies and trustees of private, family, or religious trusts can also be partners in a partnership firm.
Advantages of a Partnership Firm
- Easy Formation: Registering a partnership firm is relatively simple and cost-effective, making it an accessible option for many entrepreneurs.
- Diverse Skills and Expertise: Partners bring unique skills, knowledge, and resources, enhancing the business’s overall capability and growth potential.
- Shared Financial Burden: Financial obligations and risks are distributed among partners, reducing the individual burden on each.
- Tax Benefits: Profits are taxed individually at the partners’ tax rates, offering potential savings compared to corporate tax rates.
- Flexibility: The partnership structure allows flexible decision-making and operational control among partners.
- Capital Generation: Partnerships have better access to capital, as partners can contribute resources and attract additional capital.
Disadvantages of a Partnership Firm
Despite its advantages, a partnership firm has some limitations:
- Unlimited Liability: Partners bear unlimited liability, meaning they are personally responsible for the firm’s debts and obligations.
- Limited Capital: The ability to raise substantial funds is limited as it depends on the partners’ individual contributions.
- Conflict Risks: Disagreements among partners can hinder decision-making and disrupt operations.
- Growth Limitations: Partnerships may face challenges in expanding compared to larger business structures like private limited companies.
- Continuity Issues: The firm’s operations could be disrupted due to the withdrawal, death, or insolvency of any partner, unless provisions are made in the partnership deed.
Legal Standing of a Registered Partnership Firm
Though partnership registration is not mandatory, registering your partnership firm offers several legal advantages. A registered partnership enjoys:
- Legal Recognition: Registered firms can enforce their contractual rights and obligations in court, unlike unregistered firms.
- Ability to Sue Third Parties: A registered partnership can initiate legal proceedings against third parties to enforce contracts and recover dues.
- Claiming Set-Off: Registered firms can claim set-off and enforce their rights in legal disputes, a benefit unavailable to unregistered firms.
Partnership Firm Registration Process with Bharat e-Filing
Our streamlined Partnership Firm Registration Process at Bharat e-Filing involves the following key steps:
- Obtain a Digital Signature Certificate (DSC). All partners need a valid DSC, which is required for signing documents electronically.
- Designated Partner Identification Number (DPIN) Partners must apply for a DPIN, a unique identification number necessary for registration.
- Firm Name Selection: Choose a unique name for your partnership firm that complies with the legal naming conventions and isn’t identical to any existing business entity.
- Draft the Partnership Deed. The partnership deed outlines all key terms, including the firm’s name, partner details, profit-sharing ratio, and the firm’s operations.
- Submit the Registration Application. Submit the partnership deed and firm details, including partners’ names, addresses, business nature, and firm duration, to the Registrar of Firms.
- Obtain the Certificate of Registration. Upon successful verification, the Registrar of Firms will issue the Certificate of Registration, confirming the legal existence of the partnership.
- Apply for PAN and TAN Apply for the firm’s Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN), both essential for tax purposes.
Choose Bharat e-Filing for Your Partnership Firm Registration?
At Bharat e-Filing, we provide expert guidance and comprehensive assistance to ensure a seamless partnership firm registration process. Our services include:
- End-to-End Support: From selecting a name to obtaining legal registrations, we handle it all.
- Affordable & Transparent Fees: We offer cost-effective services with no hidden charges.
- Expert Assistance: Our team of professionals provides tailored advice and ensures compliance with all legal requirements.
- Post-Registration Support: Our assistance continues even after registration, helping you stay compliant with ongoing legal obligations.
With Bharat e-Filing, you can confidently establish your partnership firm, ensuring legal protection and setting the foundation for business growth. Contact us today to begin your partnership registration journey.
Starting a Business and Confused Where to Begin?
At Bharat E-Filing, we take care of Accounting, Business, Compliance, and handle end-to-end solutions.
Customer Reviews For Partnership Firm
Our clients trust Bharat e-Filing for reliable, efficient and expert-led on time services. Here’s what they have to say.
Frequently Asked Questions (FAQ) – Partnership Firm
A partnership firm is a business structure where two or more individuals come together to operate a business, sharing profits and liabilities as per an agreement.
No, registering a partnership firm is not mandatory under the Indian Partnership Act, 1932. However, registration is recommended for legal recognition and to avoid limitations in legal disputes.
A partnership deed is a legal document that outlines the terms and conditions of the partnership, including profit-sharing ratios, duties of partners, and the business's operational rules.
To register a partnership firm, you must create a partnership deed, choose a firm name, and apply to the Registrar of Firms along with the necessary documents.
The essential documents include: Partnership deed, Proof of business address, PAN, and Aadhaar of partners, Identity and address proof of partners, Passport-sized photographs of partners.
The cost can range from ₹2,000 to ₹10,000, depending on the registration fees of the state, legal fees, and the complexity of the partnership deed.
Registered firms gain legal recognition, can sue third parties, claim set-offs, and enforce contractual rights, which are not available to unregistered firms.
Yes, a registered partnership firm can open a business bank account by providing the partnership deed, PAN card, and other required documents.
A partnership firm itself is not taxed. Instead, the individual partners are taxed based on their share of the profits as per their income tax slabs.
A registered firm has legal recognition and the ability to take legal action, while an unregistered firm cannot sue third parties or claim set-offs in disputes.
Partners share profits as per the agreed-upon ratio mentioned in the partnership deed. The ratio can be based on the capital contribution or any other mutually agreed-upon terms.
Yes, a partnership firm can be converted into a private limited company or an LLP (Limited Liability Partnership) as the business expands and grows.
Partners have unlimited liability, meaning they are personally responsible for the debts and obligations of the business, which can put their personal assets at risk.
Yes, a foreign national can become a partner in an Indian partnership firm, but there are certain restrictions based on the nature of the business and the regulations in place.
Dissolution of a partnership firm involves notifying all partners, settling debts, and filing a dissolution application with the Registrar of Firms. The partnership deed should also contain clauses for dissolution procedures.
Related services
Related products
- Startup
Private Limited Company
Price range: ₹2,999.00 through ₹12,999.00 Book Now This product has multiple variants. The options may be chosen on the product page - Startup
Sole Proprietorship
Original price was: ₹5,999.00.₹3,999.00Current price is: ₹3,999.00. Book Now
Related Services
Related products
- Startup
One Person Company
Price range: ₹2,999.00 through ₹8,999.00 Book Now This product has multiple variants. The options may be chosen on the product page - Startup
Private Limited Company
Price range: ₹2,999.00 through ₹12,999.00 Book Now This product has multiple variants. The options may be chosen on the product page - Startup
LLP (Limited Liability Partnership)
Price range: ₹1,499.00 through ₹12,999.00 Book Now This product has multiple variants. The options may be chosen on the product page - Startup
Sole Proprietorship
Original price was: ₹5,999.00.₹3,999.00Current price is: ₹3,999.00. Book Now
