Documents Required for Partnership Firm Registration Certificate

A partnership is a relation between individuals who agrees to share the profits and loss of a business as stated under the Section 4 of the Indian Partnership Act. Partnerships firms are ideal for small business having multiple promoters in an unorganized sector or society.

Are you thinking to establish a partnership firm? Then Swarit advisors can surely help you in getting your partnership firm registration certificate within minimum partnership firm registration fees.

What is partnership firm registration certificate?

Partnership firm registration is however not mandatory to setup a Partnership Firm in India, but we always advise you to register a partnership firm to avail all the legal benefits which cannot be availed if your firm is not registered under the Indian Partnership Act. Partnership Firm Registration helps in the complete discretion of partners avoiding disputes in them. Swarit Advisors can help you to get your partnership firm registration certificate in India. You can avail it byjust providing the important documents such as documents related to address proof of the firm, documents related to identification of the related partner, profit sharing ratio, the motive to set up partnership firm, and duration of the partnership firm.

What are the documents required for obtaining the Partnership Firm registration certificate in India?

You need to follow a specific process to get the partnership firm registration certificate. Here are the important documents you need for obtaining the certificate:

• Application for Partnership Firm registration submitted in Form 1
• Certified Copy of the Partnership Deed on duly stamp paper
• A Specimen of Affidavit
• In case of owned property, Ownership documents as a resident proof
• Rental agreement as a proof of principal place of business, if the working premises are on rent
• Identity Proof and address proof of all the related partners in form of PAN card/ Copy of voter ID card / Aadhar Card/ Passport/ Driving License.
  
  

What is a partnership deed?

Partnership deed is an important document required for obtaining a partnership firm registration certificate. The deed is formed among the partners in the form of Partnership Deed agreement that defines and contains all the duties, rights, profit sharing ratio and other obligations of each and every partner in the registered firm. It can either be oral or written agreement, but it is always advisable to form a partnership deed to avoid any kind of future disputes and conflicts among the respective partners.

Below mentioned components should be always considered while drafting a partnership deed:

• Proper details of the partners and firm such as name and address
• Nature and purpose of the Partnership Firm
• Detail regarding the capital investments made by each partner
• Profit or loss sharing ratio between the firm partners
• Interest provided on the capital invested by each partner
• Detail of drawings loans provided by respective partners
• Commissions, salaries or any other amount to be paid to the partners
• Proper Rights and duties of each Partner
• A process that will be followed in circumstances of retirement or death of any respective partner.
• Other clauses decided mutually by all the partners.

Note:For partnership firm registration in India, partnership deed requires to be notarized and duly stamped.Swarit Advisors team of professionals can help you in drafting your partnership deed in a very experienced and formal manner.

Conclusion:

Partnership Firm is one of the most suitable types of business structure due to its ease in formation and minimum requirements of members to form a Partnership Firm online. There are very minimal compliances in partnership firm in comparison to other business structures. In layman language, partnership creates a relationship between two or more people who have agreed to carry on a business to earn profit and are recognized as the partners of a registered firm.

Swarit Advisors being one of the India’stop leading platforms in providing legal professional services can help you in getting your partnership firm registration within the minimal partnership firm registration fees. To know more drop an email to Swarit advisors at ho@swaritadvisors.com or call at their helpline number +91-9821399320.