A partnership firm is an agreement/approach between parties, known as business partners, to come on-board with the mutual interests and form a partnership firm that delivers establishing and achieving their business goals. The said partners in a partnership firm can be individuals, businesses or interest-based organizations.

Benefits of Partnership Company Registration

Minimum Compliance

There is minimum compliance involved in the constitution of a partnership. A tax audit is not compulsory unless the turnover exceeds Rs.5 crore. Statutory audit is not compulsory in the case of registered partnership firms. Only filing of Income Tax returns is mandatory.

Economical choice to make

One of the most economical types of constitutions individuals opt for, partnership firms are usually preferred by family-owned businesses. The compliance costs involved with Private Limited and LLP are more elevated than those of partnership firms.

Drafting of deed within 2-4 days

Unregistered Partnership Deed can be drafted and agreement can be entered between both the Partners within 2-4 days.

Ideal when registering with Startup India

It is one of the most desired types in case one is looking at registering with Startup India. It helps avail seed funding, Income Tax & IPR benefits.


Business Details
Proprietor Details
Pricing Cart
Total Price
GST @ 18%


Minimum 2 Partners | Maximum No. Of Partners Can Be 20
In the case of Corporate entity, nominate one person who will act on the behalf of the Corporate
Official address of Partnership Firm (Can be owned or rented)


Identity Proof

Self-Attested photocopy Or scanned original copy Of Aadhar Card and PAN Card/Passport (Foreign Nationals & NRIs)
Self-Attested photocopy or scanned original copy of Voter's ID/Passport/Driver's License
Scanned Passport-size photograph and specimen Signature (Blank Document With Signature (Directors Only])

Registered Office address Proof

Scanned original copy of an Electricity Bill of any recent month/ property tax receipt of any recent month must be submitted
In case of rented property, then a scanned copy of the Electricity Bill in the name of the landlord along with a consent letter by the landlord to use the premise for the purpose as mentioned in the MOA


Registered Partnership Deed
Tax Deduction Account Number (TAN)
Udyam Registration Certificate
GST Registration Number
Permanent Account Number (PAN)
Chartered Accountant Certificate (For opening Current Account in the bank)


When two or more individuals enter a contract to initiate a business, the business structure is termed as a partnership firm.

The liability of partners in a partnership firm is absolute. So, if the business is unable to repay a loan taken from banks and creditors then the personal assets of the partners are sold to repay the loan taken. However, on an LLP, the liability of partners/directors is limited, therefore, in a situation of repaying banks or creditors, the personal assets of the director/partner won’t be sold.

You would require at least a minimum of 2 individuals and a maximum of 20 individuals to form a Partnership Firm.

The drafting of a Partnership Deed is mandatory and cannot be skipped. A Partnership Deed defines the role and responsibilities of the partners, therefore, making it a compulsory document for the purpose of registering a partnership with the Registrar of Firms.

No, registration of the Partnership Deed with the Registrar of Firms is not compulsory. However, an unregistered Partnership Deed is not permissible in the court of law.

You can inquire from the Registrar of Firms (ROF) of your State about the registration status or you can check the status online by visiting the Registrar of Firms website.

An audit is not compulsory for partnership firms however, the tax audit is obligatory if the turnover of the financial year crosses the limit of Rs.5 crore.

There is no minimum capital mandated to be added by partners to start a partnership firm.

Yes, provided the Partnership Deed is registered. In a situation of a dispute, a partner can legally file a suit against the other.

Yes, the personal assets/property of both partners will be attached even if the mistake/fraud is committed by one of them.

Yes, filing tax returns before the due date is compulsory.

Yes, converting your Partnership Firm into LLP/Company is possible and you would need to follow a legal procedure. We can guide and help you with the conversion effortlessly, and reach out to our experts.

No, as per Section 22 of CGST Act, 2017, GST registration is not mandatory at the time of registration of a partnership firm. Even in the case of private limited companies, to obtain a GST registration the turnover in any financial year needs to be speculated above Rs.40 lakhs if the business is related to goods and Rs.20 lakhs if the business is related to services.

  • Basic KYC documents such as Aadhar card and Pan Card of Partners.
  • In case the premise is owned; the Electricity Bill or Municipal Tax receipt of the registered office address as mentioned in Partnership Deed and in case premises is rented or leased out then the Electricity Bill or Municipal Tax receipt of the registered office address as mentioned in Partnership Deed along with rent agreement.
  • It is not necessary that the Notarized Partnership agreement be registered; GST registration can still be obtained even though the agreement is unregistered.
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