• Visit Us:
Contact Us
  • Your Partnership, Legally Protected

Partnership Firm

Start your business journey with CorporateDoctors — your trusted partner for smooth and hassle-free Partnership Firm Registration. Get expert support for drafting partnership deeds, registration, and compliance — all in one seamless, 100% online process designed to make business setup simple, secure, and reliable.

  • Free Consultation

    • Build Strong Partnerships with Legal Protection

    What is Partnership Firm?

    A Partnership Firm is a type of business structure where two or more individuals come together to carry on a business and share profits and losses according to a mutually agreed partnership deed.

    Key Features of a Partnership Firm

    Feature Description
    Minimum Partners 2
    Maximum Partners 20 (10 in case of banking business)
    Legal Status Not a separate legal entity (unlike a company or LLP)
    Governing Law Indian Partnership Act, 1932
    Registration Optional (but recommended) with Registrar of Firms
    Agreement Governed by a Partnership Deed
    Profit Sharing As per the ratio agreed in the deed
    Liability Unlimited for all partners
    Management Partners manage the business directly
    Taxation Taxed as a firm; partners are taxed individually on their share

    Types of Partnership Firms

    Registered Partnership Firm

    Registered with the Registrar of Firms (not mandatory, but beneficial)

    Unregistered Partnership Firm

    Legally valid, but has limited legal rights (e.g., can’t sue other partners)

    Step-by-Step Registration of a Partnership Firm

    (with Timeline)

    Step:- 1
    Choose a Business Name

    Unique, not similar to existing firm names or trademarked ones. Avoid restricted words.
    (Estimated Time: 1 day)

    Step:- 2
    Draft the Partnership Deed

    Legal document outlining roles, profit-sharing, capital, decision-making, etc.
    (Estimated Time: 1–2 days)

    Step:- 3
    Stamp & Notarize the Deed

    Deed must be executed on stamp paper (value depends on capital) and notarized.
    (Estimated Time: 1 day)

    Step:- 4
    Apply for PAN of the Firm

    Apply online via NSDL or UTIITSL for a PAN in the firm’s name.
    (Estimated Time: 7–10 days)

    Step:- 5
    Open a Bank Account

    In the firm’s name, using PAN, deed, and partner KYC.
    (Estimated Time: 2–5 days)

    Step:- 6
    Prepare & Submit Form 1

    Form 1 (application for registration) submitted to the Registrar of Firms.
    (Estimated Time: 1 day)

    Step:- 7
    Attach Required Documents

    Partnership deed, address proof, ID proof of partners, affidavit, etc.
    (Estimated Time: Same as above)

    Step:- 8
    Pay Registration Fee

    Varies by state; must be paid via challan or online portal.
    (Estimated Time: Same day)

    Step:- 9
    Verification by Registrar

    The registrar reviews documents and may request clarifications.
    (Estimated Time: 10–15 days)

    Step:- 10
    Certificate of Registration Issued

    Once approved, you receive the registration certificate.
    (Estimated Time: 2–5 days)

    Documents Checklist:

    In short, you’ll need:

    • Notarized Partnership Deed
    • ID and address proof of all partners (PAN, Aadhaar)
    • Address proof of business (rent agreement/utility bill)
    • Affidavit declaring correctness of information
    • Application Form 1
    • Passport-sized photos of all partners
    • PAN Card of the Firm

    Why Corporate Doctor?

    10 + Years Experience

    500+ Successful Company Registrations

    Expert CA, CS & Legal Advisors

    Copyright © 2025 Corporate Doctors.in  All Rights Reserved

    Maintained By: Soft4u Solutions Pvt.Ltd