Partnership Firm Registration

To register a partnership firm in India, you need several documents, including:
1. Application for Registration (Form 1).
2. A duly signed and notarized Partnership Deed.
3. Proof of the principal place of business (like rent agreement or property documents).
4. ID and Address proof of all partners.
5. Affidavit stating the willingness of the partners. Please consult a legal advisor for comprehensive information.

Yes, a partnership firm can be converted into a company in India. This is governed by Section 366 of the Companies Act, 2013. There are specific procedures and requirements to be followed for the conversion.

Yes, An audit is mandatory for all partnership firms in India. As per the Income Tax Act, only those firms whose turnover exceeds ₹1 crore in case of a business, or ₹50 lakhs in case of a profession, during a financial year need to get their accounts audited.

No, the preparation of a Partnership Deed is not compulsory for registering a partnership firm. It is a document that outlines the rights, duties, and responsibilities of each partner and the terms of the partnership. But it is recommended to draft a deed. Get in touch with our legal experts today!

The timeline can vary, get in touch with our expert and get basic legal advice.

Converting a partnership into a private company involves several steps:
1. Obtain No Objection Certificate (NOC) from the secure creditors, if any.
2. Apply for the Director Identification Numbers (DIN) for all partners.
3. Apply for the Digital Signature Certificate (DSC) for all partners.
4. File Form URC-1 with the Registrar of Companies.
5. Submit all necessary documents (like the Partnership Deed, Statement of Accounts, etc.).
6. Once approved, the Registrar of Companies will issue a Certificate of Incorporation, which signifies the completion of the conversion. Consult our compliance expert today!

To formalise a partnership firm in Tamil Nadu, specific prerequisites must be met:
Minimum Number of Partners: The formation of a partnership requires a minimum of two partners.
Drafting a Partnership Deed: The partners are obligated to prepare a partnership deed, which delineates the terms and conditions of their cooperation.
Partnership Deed Stamping and Notarization: It is crucial to have the partnership deed stamped and notarized, signifying its legal validation.
Obtaining a Permanent Account Number (PAN): The partners must secure a PAN for the firm, which serves as its unique tax identification.
Additionally, certain necessary documents are required from the partners. These include:

PAN Card

Aadhaar Card

Driver’s License

Passport

Voter ID

Sale deed (in case a partner owns the premises)

Rental agreement copy (if the property is rented)

Latest electricity bill (not more than 3 months old)

These prerequisites and documents collectively enable the formal registration of a partnership firm in Tamil Nadu, ensuring it functions within the legal framework

Yes, a partnership firm registered in Delhi can operate in other states as well. However, if you plan to establish branch offices or carry out business activities extensively in other states, you may need to comply with additional requirements, such as obtaining necessary licenses or registrations specific to those states.

The stamp duty for partnership deeds in Haryana is generally a fixed fee of INR 1,000, regardless of the amount of capital involved in the partnership. However, rules and rates can change, and the stamp duty can vary based on factors like the nature of the partnership, the total capital involved, and other specific details.

To register a partnership firm in Madhya Pradesh, the following criteria must be met:

The firm must have at least two partners.

The partners must be competent to contract.

The partners must agree to share profits and losses.

The firm's business must be lawful.