Registration of Partnership Firm

A partnership firm is a form of business organization where two or more persons agree to share the profits and losses of a business. A partnership firm can be registered under the Indian Partnership Act, 1932, which governs the rights and duties of the partners and the firm. Here are the steps to register a partnership firm in India:

• First, you need to choose a unique name for your partnership firm that represents your business and does not conflict with any existing registered business names. You can check the availability of your chosen name at mca website.
• Second, you need to draft a partnership deed that describes the details of your partnership, such as the name and address of the firm and the partners, the nature and duration of the business, the capital contribution and profit-sharing ratio of each partner, and any other clauses that you want to include.
• Third, you need to print the partnership deed on a stamp paper of the appropriate value and get it signed by all the partners and two witnesses. The stamp duty varies from state to state and depends on the capital of the firm. You can find the stamp duty rates for different states.
• Fourth, you need to file an application for registration of your partnership firm with the Registrar of Firms of the state where your firm is located. The application form must be accompanied by the following documents:
  • A copy of the partnership deed
  • A proof of the principal place of business, such as a rent agreement or an electricity bill
  • A proof of identity and address of each partner, such as a PAN card or an Aadhaar card
  • A passport size photograph of each partner
  • A prescribed fee, which may vary from state to state
• Fifth, after verifying your application and documents, the Registrar of Firms will issue a certificate of registration to your partnership firm. The certificate of registration is the proof of the existence and validity of your partnership firm.

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