PARTNERSHIP FIRM REGISTRATION ONLINE

Partnership firm registration online in india is done in 3 simple steps-

1.   Preparation of partnership deed
2.   Apply for partnership firm pancard
3.  Open current account of partnership firm & apply for gst registration for partnership firm in case you need

Partnership firms Documents Required-

While registering a firm, simple basic documents of partners are required-   

1. Pan card of Partners    
2. Aadhar card/ voter id/ DL of partners    
3. Utility bills of the registering firm    premises

Partnership firm registration fees-

Team Tax advisory will register your firm in 2499/- (inclusive of all taxes)

This package includes-

• Preparation of partnership deed by advocate    
• Pan & Tan application    
• MSME registration of partnership firm

If you want to register your Partnership firm in gst too, so after receiving E-pancard of partnership firm, we can apply for Gst registration of partnership firm too. In this case, Tax advisory provides you this package-

3999/- Inclusive of all taxes

Above package includes-    

• Preparation of partnership deed by advocate    
• Pan & Tan application    
• Gst registration of Partnership firm    
• Msme registration of partnership firm

What are the benefits of Partnership firm Registration-

1.Prompt decision- Decision making in Partnership firms is easy as compared to LLP or company. Partners actively participates in business

2.Legal validity- when the partners signs the partnership firms, they are legally bound to the terms & conditions in partnership deeds. Thus, it increases credibility.    

1. Limited Liability of Partners- In partnership firm business, liability of partners are limited to capital contributed in partnership business. Their personal assets are not liable for any loss incurred by partnership firms.    

1. Simple to start- regiser a partnership firm is simple in process & documents requirements in firm registration is also simple. Only basic kyc documents are needed to start a partnership firm    
2. Less Compliances- partnership firm have less compliances. Infact, you just have to file annual Income tax return of partnership firm. Thus documentation requirement & compliance management is simple in registering partnership firms    
3. Partners capital- while preparing partnership deed,  partners capital is disclosed.  Contributed capital shows the transparency in business.

1. Ease in Loan- in partnership firm registration, business is done on large scale, thus goodwill & reputation of firm is increased. This will result in ease of loan & investment in the firm.

Partnership firm registration online Procedure-

If you want to register your partnership firm, you don’t need to go anywhere. Every work related to registration of firm is done online by us. You have to follow above simple steps-

Step1- contact us or request a call back with us.

Step2- our executive will call you and you can send basic documents for partnership firms via email or whatsapp.

Step3- make the payment online via secure means. Upi, paytm wallet, bank transfer, as you consider appropriate.

Step4- we will assign a legal expert and your work is done here. We will collect documents, prepare partnership deed. You just need to take a print of that deed on a stamp paper of your state. After printing, sign it by all the partners and send back to us. We will apply pan, gst, msme of your firms. You will get every certificate on your fingertips in timely manner.

What time does it take in registering partnership firm?

If you provide us the documents on the same day, we will start working immidiately on that.

1.Preparation of partnership deed- 1 day

2.Apply pan card. Physical copy of pancard comes in 14 days but for us, e-pan issued by NSDL for partnership firms is sufficient which can come in 4-5 days.

Thus, it will take around 5-6 days in registering your partnership firm.

llp v/s partnership firms

Well, that’s a common question among the businessman whether we shall opt for LLP Registration (limited liability partnership firms) or Partnership firms. Difference between these two is that llp is incorporated through MCA and it have a validity, compliances is like Companies. Technically, LLP is a small version of Private limited company. It is approved by MCA, it will have a separate pancard, it will be separate legal entity & documents requirements in LLP is more as compare to partnership firms. We can find the difference b/w LLP & partnership firms in a following way

1.Approving authority- approving authority of llp is mca while Partnership firms is registered through Msme, gst registration.

2.compliances- meanwhile llp have  compliances like of companies. They have directors, they need to file annual return in mca. In partnership firm, you just need to file your income tax return of firm, that’s all.

3. Cost- llp is costlier than the partnership firm. If you are 2 partners, it will take around 9000-10000 Rupees to start a llp and in partnership firms, cost comes around 4000-5000 rupees.

Final wordings on llp v/s partnership firms-

If you are planning for a business of huge investment, if you are looking for investment in business in future, if you are ready to follow the compliances requirement of llp, than you can go for llp otherwise if you are not expecting any future investor, you are investing your own money and you want a budgeted business constitution, than you should go for partnership firm registration.

FAQ’s on Partnership firm Registration-

Q) How to Register partnership firm name?

Ans- Partnership firm name registration can be decide by mutually agreement between partners. It must not contradict with any registered company, LLP or any registered trademark. We will help you in finding out this. Just sent us a name and our team will check it on various platform than we can proceed.

Q) can I register my firm on my residential address?

Ans- yes. Residential address can be firm’s office address. You just need utility bill.

Q)online partnership firm registration is possible?

Ans- yes. You don’t need to go anywhere. Just provide us your basic documents and we will register your partnership firm on your fingertips.

Q) who is registrar of firms?

Ans- registrar of firms registers the partnership firm deed. It is like registrar of companies who register companies.

Q) what is partners capital account?

Ans- when you starts business, you have to show the initial capital investment by you in firm, that amount is called partners capital. Profit sharing ratio etc normally will be depends on partners share capital.

Q) can we book expenses of firms in profit & loss account?

Ans- yes. All the business expenses which are incurred in business are eligible to be deducted from gross profit. You can book the expense.

Q) can we convert our partnership firm into llp or private limited company?

Ans- yes. You can convert your firm into private limited company. It’s a different method. Book consultation with us now. We will help you in converting.

Q) what are the annual compliance or annual cost of partnership firms?

Ans-you have to file income tax return of firm in a year. That’s all.

If you have gst registration of your partnership firm, it comes around maintenance cost of 10000 rupees per year of income tax return and gst returns both.

Q) if employee wants to do business and open a partnership firm, can they register the firm in their family members name?

Ans- yes. They can make their family members as partner in firm. There is no limitation on that.

Q) it is mendatory to register partnership firm?

Ans- no. its not mendatory. Its optional. Although registration of partnership firm is costlier but unregistered partnership firms can  operate business & registration of firm in MSME & gst can be sufficient.