Partnership Firm

A partnership firm is formed when a group of people join together in the pursuit of a business.

All partnership firms are formed in India under the Indian Partnership Act, 1932 read with Maharashtra Partnership Rules 1989 for Mumbai Registrar of Firm Office

Feature of Partnership Firm

CONTRACT
A partnership firm is not a separate legal entity. But according to the act, a firm must be formed via a legal agreement between all the partners. So a contract must be entered into to form a partnership firm.
UNLIMITED LIABILITY
In a unique feature, all partners have unlimited liability in the business. The partners are all individually and jointly liable for the firm and the payment of all debts. This means that even personal assets of a partner can be liquidated to meet the debts of the firm.
EASY COMPLIANCE
There are hardly any compliance in partnership by Virtue of its Act under which it is made except for intimation for any changes in deed to Registrar of Firm. There is even no restrictions as Private Limited such as taking unsecured loan from unrelated parties
Ease of formation
At the time of incorporating the partnership firm there are very less requirements to be followed as compared to other company structures and the limited liability partnership. Moreover, the partnership firm can be started on the same day of making the application thus the time consumed in its registration is also very less.
Flexibility of Operations
In comparison to the other company structures there exist the flexibility of operations in the partnership firm. This is because there are less rules and regulations applicable on this structure.
LESS ACCOUNTS & TAX BURDEN
No audit required for professionals till 50 Laks turnover and for other 2 crore in income tax. They can file the tax return without maintaining books of accounts u/s 44AD /44ADA
A Partnership is liable for payment of income tax and share of its partners in Partnership is not liable to tax. Thus no dividend distribution tax is payable. Provision of ‘deemed dividend’ under income tax law, is not applicable to Partnership. Section 40(b): Interest to partners, any payment of salary, bonus, commission or remuneration allowed as deduction.

Simple Pricing

Silver
Rs.3,499 /-
Unregistered Partnership Deed
Stamp Duty on Fixed Capital upto Rs. 50,000 /-*
PAN & TAN
Udyog Aadhar
Eorder
Gold
Rs.6,499 /-
Registered Partnership Deed through Registrar of Firm
Stamp Duty on Fixed Capital upto Rs. 50,000 /-*
PAN & TAN
Udyog Aadhar
RoF Fees
Notary
Marathi Conversion of English Deed
Eorder
Diamond
Rs.9,999 /-
Registered Partnership Deed through Registrar of Firm
Stamp Duty on Fixed Capital upto Rs. 50,000 /-*
PAN & TAN
Udyog Aadhar
RoF Fees
Notary
Marathi Conversion of English Deed
GST
IEC Code
Eorder

*Fixed Capital from Rs. 500 /- to Rs. 50,000 /-, thereafter Rs. 500 /- additional for every Rs. 50,000 /- additional Fixed Capital, Maximum Rs. 15,000 /-

Deliverables

  • Partnership Deed on Stamp Paper
  • Form A Receipt and Acknowledgement
  • Firm Regn Certificate After 3-4 years
  • PAN Card
  • TDS Number
  • GST Registration
Steps For Partnership Firm Registration Certificate
0
Partnership Deed
  • Collect Information to Draft Partnership Deed
  • Finalize & Print the Deed on Stamp Paper & Get it Signed
  • Convert the Deed into Marathi
0
Upload & Pay
  • Attach CA Certified Deeds, Affidavits, etc
  • Upload Documents Online
  • Pay RoF Fees Online
  • Generate Relevant Forms
0
Acknowledgement
  • Sign, Notarized & Upload the Documents
  • Submit Hard Copies & get Acknowledged
  • Download e-payment Receipt
0
Final Certificate
  • Reply to Objection raised by Registrar (if any)
  • Certificate of Registration
  • It will take 3-4 years to get Final Certificate of Registration.

Time-Line

  • For Deed Preparation & RoF Application:
    3 – 5 Days
  • PAN Card : 15 Days
    With Digital Sign : 5 – 7 days
  • GST Registration :
    3-5 days after PAN number

Amendments In
Partnership Firm

For amendment in partnership firm like change in partner , address etc, Supplementary deed to be prepared.

For registration of Supplementary deed following forms to be filed

Form B
For Address , Name or Object Change of Firm
Form C
For Additional Place of Business
Form D
For Partner Address Change
Form E
for Retirement / Admission of Partner / Dissolution of Firm

Fees for each amendment will be Rs. 5,000 /-  (For upto Rs. 50,000 /- Fixed Capital)

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Information / Document Required for FIRM Registration

Partner Details as per proof

  • Full Name
  • Father’s Name / Husband’s Name
  • Age
  • Address

Address of The Registered Office

Name of Firm

Main Object of FIRM

Residence Proof of All The Partner

PAN Card of All The Partners

Capital of Proposed Firm

Partnership Registrations

  • Partnership Registration in Andheri
  • Partnership Registration in Bandra
  • Partnership Registration in Dadar
  • Partnership Registration in Borivali
  • Partnership Registration in Bhayander

Other Services

  • Company Registration in Mumbai
  • LLP Registration in Mumbai
  • GST Registration in Mumbai
  • One Person Company Registration in Mumbai
  • Trademark Registration in Mumbai

Partnership Firm Services in Mumbai

A Partnership firm is a Legal identity which is registered by two or more persons by executing a partnership deed with each other. Choose this option if you are two or more person (Max limit up to 10 Partners) coming together for a business idea. Even though this form of business is governed under the Indian Partnership Act 1932, the partners are at free will to decide on various terms pertaining to share of profits/salaries and other related matters.

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