Overview
Partnership firm registration in Assam refers to the process of registering a partnership firm with the Registrar of Firms in the state of Assam, India. This involves submitting an application along with the necessary documents to the registrar and paying the required fee. The process of partnership firm registration in Assam is governed by the Indian Partnership Act, 1932. Once the firm is registered, it will receive a partnership deed, which is a legal document that outlines the terms and conditions of the partnership. The partnership firm can then use this document for various purposes, including opening a bank account, entering into contracts, and conducting business activities.
Eligibility Criteria
A partnership firm must have a minimum of two partners to register | The partners must be of legal age and must be residents of India | All partners must have a PAN card | The partnership firm must have a current bank account in the name of the firm | The partnership firm must be engaged in a lawful business activity | The partners must have a written agreement between them that outlines the terms and conditions of the partnership.
Did you Know?
Assams GDP (SGDP) growth was approximately 12.66% in the previous fiscal year, and this year it is expected to hit that target of 12% to 13%. This is distinctive across the nation.
Benefits
- Flexibility: A partnership deed registration is a flexible form of business that allows partners to make decisions together and make changes as required
- Tax benefits: Partnership firms are eligible for certain tax benefits and deductions that are not available to unregistered firms
- Liability protection: In a partnership firm, the partners are only liable for the firm's debts to the extent of their investment, which provides a degree of protection to personal assets
- Easy to dissolve: Dissolving a partnership firm is easier compared to other forms of business as it requires fewer formalities and legal procedures.
Documents Required
- PAN card
- Address proof of all the partners (Aadhar card, Voter ID, Driving License, etc.
- Partnership deed
- Rent agreement and NOC from the landlord
- Electricity bill, water bill, and property tax receipt of the registered office
- ID proof and address proof of the authorised signatory
- Bank statement or cancelled cheque of the business account.
Online
Online partnership firm registration in Assam can be done easily through Vakilsearch in just three easy steps as discussed below:
Step 1: Talk to Our Experts
All of your questions regarding the procedure can be answered by our team of professionals in company registration. You can submit all the necessary paperworks right away.
Step 2: We Will Apply for all the Documentation
- Our team will draft the partnership deed in 3 days
- Apply for Permanent Account Number (PAN) and the Tax Detection and Collection Account Number (TAN)
- On request, we will also complete GST registration.
Step 3: Partnership Firm Registration
Our group will register a partnership firm in Assam. Our professionals will register your company in Gujarat once they have all the necessary paperwork. You will receive the certificate of incorporation following registration.
Offline
- Step 1: Choose a unique name for the partnership firm and get it approved from the Registrar of Firms
- Step 2: Prepare the partnership deed and get it signed by all partners. The deed should include details such as name of the firm, name of partners, capital contribution of each partner, profit-sharing ratio, and dispute resolution mechanism, among others
- Step 3: Submit the signed partnership deed along with the required documents, such as PAN of partners, to the Registrar of Firms in Assam
- Step 4: The Registrar of Firms will examine the documents and, if everything is in order, will issue a certificate of registration.
Why Vakilsearch
To avoid any legal implications, it is advisable to have a proper partnership deed in place and to comply with the statutory requirements. Also, it is crucial to choose the right type of partnership firm, and to have a thorough understanding of the tax implications, legal responsibilities, and other important factors before registering a partnership firm in Assam. Partner with us today and take advantage of the numerous benefits that come with a registered partnership firm. Contact us now to get started!
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