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Partnership Firm Registration in Chennai

Register your Partnership firm in Chennai through Smartcorp - an eminent service provider with expert professionals who offer services at affordable cost. We have expanded our services in Adayar, Guidy, Mylapore, Saidapet, Porur, Purasaivakkam and Chrome pet. Our goal is to provide prominent and significant service to satisfy the customer’s business expectation. Smartcorp makes the registration as simple as quick. It is one of the best consultants in Chennai and the applicants can enjoy the registration benefits with us.

Partnership firm is a group of people who works together and share their profit in an agreed ratio. Partnership deed is mandatory to form a partnership firm. In the partnership deed, they mention rules and regulations to follow, capital and agreed ratios, everything that is quoted in the deed. It is registered under the act of Indian partnership act, 1932. Maximum number of partnership is 10, for non-banking business firm it is 20. A partnership firm cannot be a debtor or creditor and cannot own any properties. In the eyes of law, the property, debit or credit of a partnership firm belongs for the partners. If any debts occurred it should be shared among the partners as mention in partnership deed.The registered firm is entitled to declare tax benefits under the provisions of Income Tax Acts. A registered Partnership firm will have better business opportunities due to reliability and can eventually enjoy a better Goodwill. The registration of partnership can be done via online.

Documents required for Partnership Firm Registration

  • Partnership Deed
  • PAN card and Address proof of partners
  • Address Proof of firm
  • Additional partnership firm registration documents
  • GST Registration documents
  • Identity proof of all partners
  • Current bank account

Benefits of Partnership Firm Registration

  • Ability to file case against Third Parties
  • Power to file suit against co-partners
  • Ability to claim Set-off
  • Higher Credibility
  • Conversion of Entity
  • Less formal and fewer legal obligations
  • Easy to commence a partnership firm
  • Compare to sole tradership the burden of work is less
  • Better decision making
  • Unlimited liability
  • Online registration