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Partnership Firm Registration

Smartcorp facilitates partnership firm registration, fostering credibility within the public domain. Renowned for its excellence, Smartcorp is esteemed as a premier consultancy for partnership firm registrations.

A partnership firm is established by two or more partners who agree to share profits and losses. The pivotal document in this setup is the 'partnership deed,' a legal instrument registered under the Indian Partnership Act, 1932. Operations in a partnership firm must adhere to lawful practices, and all partners hold unlimited liability. Each partner acts as an agent of the firm, collectively responsible for contracts made in the firm's name and unable to transfer shares without unanimous partner consent.

Online registration for a partnership firm ensures customer satisfaction and cost-effectiveness. The process is simple, requiring only two or more individuals, which allows for increased capital acquisition. Combining skills and talents enhances the firm's capabilities, fostering division of labor across various departments where each partner contributes equally to management activities. Partnership firms are flexible in adapting to business changes, which bolsters credibility and enables easier financial resource acquisition for business expansion.

Documents required for Partnership Firm Registration

  • Partnership deed signed by all partners
  • Address proofs of all partners is necessary for online partnership firm registration.
  • PAN cards of all partners
  • PAN card of the company
  • Firm's address proof
  • If the location is rented, a NOC from the landlord is required
  • Form No. 1 fully completed with court fee and stamp attached
  • Firm's name
  • Business location
  • Primary business activities

Benefits of Partnership Firm Registration

  • Enables the registered firm to take legal action against third parties if required
  • Provides authority to file a suit against co-partners
  • Offers the possibility of entity conversion
  • Enhances credibility
  • Empowers partners to claim a set-off