Online Partnership Firm Registration
A partnership firm is a form of business organization in which 2 (two) or more persons come together to undertake some form of business activity and agree to share the profits and losses of the business through a written agreement. It is suitable for small businesses having fewer compliance requirements.
20000+ Happy Clients | 100+ Professionals | 300+ Partners
10000+ Businesses Incorporated
Guaranteed Filing
Within 24-Hours
5/5 Google Rating
100% Guaranteed Satisfaction Policy
How it Works
Enquiry
Reach us out for assistance
Free Consultation
Get professional support in minutes for free
Documentation
Our team completes your task after detailed discussion
Work Done
You job is completed with hassle free business support.
Online Partnership Firm Registration
A partnership is an alliance of two or more persons who agree to combine their financial resources and managerial abilities to run a business and share profits/losses in an agreed ratio. The persons who have agreed to join in partnership are individually called “Partners” and collectively a ‘Firm’. A partnership firm can be formed with a minimum of 2 (two) partners, and it can have a maximum of 50 partners.
Partnership firms in India can be divided into two categories, namely, registered partnership or unregistered partnership. Registered partnership firms are those firms having a registration certificate from the Registrar of Firms. All other partnerships that do not have a registration certificate would be classified as unregistered partnership firms. After the introduction of Limited Liability Partnership (LLP), general partnership firm has turned out to be a less favourable option by the businesses due to unlimited liability of partners, non-transferability of partnership and absence of central authority, etc. However, easier formation, low costs of registration and compliance, and minimal compliance make it a sensible option for some businesses that have minimal debt requirements.
Features of Online Partnership Firm Registration
- Registration
The registration of a partnership firm is optional and not compulsory under the Indian Partnership Act. However, it is always advisable to register the partnership firm, as a registered firm enjoys certain special rights and benefits as compared to the unregistered firms.
- Lawful Business
A partnership firm can be formed only on the basis of a lawful business activity. Its business may include any trade, industry or profession. It can engage in any activity such as production and/or distribution of goods and services with a view to earning profits.
- Agreement
Partnership is formed on the basis of an agreement between two or more persons to carry on business. The terms and conditions of partnership are laid down in a document known as Partnership Deed.
- Sharing of profits and losses
In a partnership firm, partners are entitled to share in the profits and are also to bear the losses, if any at an agreed ratio.
- Unlimited Liability
The liability of partners is unlimited as in the case of a sole proprietorship. In case some obligation arises, then not only the partnership assets but also the private property of the partners can be used to pay off the debts of the partnership firm.
- Restriction on transferability of interest
: No partner can transfer his interest in the partnership to any other person. He may, however, do so with the consent of all other partners.
- Continuity
A partnership comes to an end if any partner dies, retires or becomes insolvent. However, if the remaining partners agree to work together under the original firm’s name, the firm will not be dissolved and will continue its business after settling the claim of the outgoing partner.
- Taxation
Every Partnership Firm has to pay taxes on its profit and in order to avoid double taxation, the partners are not required to pay tax on the share profit they receive from Partnership Firm.
Advantages of Online Partnership Firm Registration
Minimum Requirements For Online Partnership Firm Registration
What Is Included In Our Online Partnership Firm Registration package?
Procedure for Features of Online Partnership Firm Registration
Documents Required for Online Partnership Firm Registration
FAQ
Why Registration Arena
Affordable pricing
Registration Arena offers various packages at different prices with flexible payment options made to best suit your budget.
Professional team
With a combined experience of 10+ years, our CA, CS and Legal experts ensure your work is done conveniently with utmost accuracy and timeliness.
Best in class customer service
We are always keen on speaking to our customers and resolving their queries. Have any doubt? Contact us without any hesitance through email, phone WhatsApp, or contact form