Partnership Firm Registration in Odisha

Overview

The process of forming a partnership firm under the Indian Partnership Act of 1932 in the state of Odisha is complicated. The registration procedure includes submitting the required paperwork, including the partnership deed and the partners' IDs, as well as paying the registration fees. After the procedure is finished, the company receives a certificate of registration and is acknowledged as a legitimately existing entity in the state of Odisha.

Did You Know?

Pradhan Mantri Particularly Vulnerable Tribal Groups PVTG programme is in line with the Odisha government's Empowerment and Livelihood Improvement Programme (OPELIP)

Odisha contains 13 of the 75 PVTGs identified in India, including Birhor, Bondo, Chuktia Bhunjia, Didayi, Juang, Kharia, Dongria Kondh, Lanjia Saora, Lodha, Mankidia, Paudi Bhuyan, and Saora. In 542 villages, 84 gramme panchayats, and 12 districts, the PVTGs cover 32,000 households. The current population is 2.5 lakh.

By providing the tribes listed as beneficiaries with basic amenities like housing, clean drinking water, sanitation, better access to education, health, and nutrition, roads, telecom connectivity, and ongoing livelihood opportunities, the PM-PVTG scheme seeks to improve their socioeconomic conditions. For this, a budget of ₹15,000 crore has been set aside.

Eligibility Criteria

• The number of partners in the partnership firm registration shall be at least two
• The partners must be of legal age
• The partners should be in good mental health
• The partners must have consent to divide profits and losses
• The partnership's name and its line of business must have been decided upon by the partners.

Benefits

• Personal Asset Protection: In a registered partnership firm, the partners' private assets are shielded from obligations incurred by the business
• Better Credibility: Registered partnership firms have more trustworthiness among stakeholders, including clients, suppliers, and other customers, which might result in more favourable business chances
• Ease of Transfer of Ownership: A partnership firm can transfer ownership more easily than a single proprietorship
• Tax Benefits: Partnership firms that are registered are eligible for a number of tax benefits, such as exemptions and deductions.

Online

The process of opening a partnership firm in Odisha is very easy. It involves registering your partnership firm under the registration of firms under the Government. Vakilsearch can complete the registration following these three steps:

Step 1: Consult Our Experts

Our team of online company registration experts can clarify all your queries regarding the process. You can provide all the required documents directly to our experts.

Step 2: We Will Take Care of Documentation

• Our team will draft the partnership deed in 3 days
• Apply for Permanent Account Number (PAN)
• We will get the Tax Detection and Collection Account Number (TAN)
• We can also complete GST registration online.

Step 3: Partnership Firm Registration

Our team will file for partnership firm registration in Madhya Pradesh. After receiving all the documentation, our experts will register your firm in Madhya Pradesh by filing the required documents. Post registration you will be provided with the incorporation certificate.

Offline

• Step 1: Complete the application form and deliver it to the state's registrar of businesses with the necessary fees
• Step 2: All partners or their representatives will confirm the information by attaching the necessary documents to the form
• Step 3: The firm will be registered in the Register of Firms. If the registrar is pleased with the registration application and supporting documentation, the registration will be completed.

Documents Required

• PAN cards of all partners
• Proof of identity and address of all partners (Aadhaar card, Passport, Voter ID, etc.)
• Proof of business address
• Partnership deed
• Affidavit and undertaking by partners
• NOC from the owner of the property, if rented
• Memorandum of Association (MOA)
• List of partners and their contributions

Why Vakilsearch

Partners can formally establish their business relationship and carry out commercial operations with legal legitimacy by registering their partnership firm in Odisha. The procedure necessitates the satisfaction of specific qualifying requirements, production of necessary paperwork, and payment of costs. Protection of the members' private assets, simple ownership transfers, and business continuity are only a few advantages of having a partnership firm incorporated in Odisha.

Choose Vakilsearch for your partnership firm registration and experience a hassle-free, efficient and personalised service. Our team of experts will guide you through the process and ensure a smooth and speedy registration. Don't wait, partner with us today and secure a successful future for your business.