Partnership Firm Registration in Maharashtra

Overview

A partnership firm is created by several individuals who work together to conduct a business. Forming a partnership firm is a complex process and demands a lot of legal formalities to be met. The Indian Partnership Act, 1932 governs the formation and registration of partnership firms in India. All the individuals share profits and losses as per their capital contribution. A partnership deed outlining the overall terms and conditions of conducting the business is also mandatory for registration.

Documents Required

The following documents are crucial for online partnership firm registration in Maharashtra:

• Certified copy of partnership deed
• Certified copy of Marathi translated partnership deed
• ₹10 blank stamp paper
• An authority letter signed by firm partners
• Covering letter with ₹5 court fee stamp
• Demand Draft of ₹1,600.

How to Open

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

• Step 1: Get In Touch With Our Experts

  Our team of 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 Prepare the Documentation

  • CGST- or the Central Goods and Services Tax is the tax imposed on the Intra State Supplies of goods and services.
  • SGST- or the State Goods and Services Tax- It is the intra-state tax imposed by the state government on the supplies of goods and services.
  • IGST – or the Integrated Goods and Services Tax is the tax imposed on the inter-state supplies of goods and services which is governed by the IGST Act.

• Step 3: Partnership Firm Registration

  Our team will file for partnership firm registration in Maharashtra. After receiving all the documentation, our experts will register your firm in Maharashtra by filing a Form A. Post registration you will be provided with the incorporation certificate.

Benefits

A professional partnership firm registered in Maharashtra can enjoy multiple advantages, some of them are discussed below:

• Eligible to File Case Against Third Parties

  In case of any disagreements that arise during the course of business or in connection with any other subject pertaining to the registered partnership firm, the partners may bring third parties before the court. This is only applicable for registered partnership businesses.

• Ability to Claim Set-Off

  In a registered partnership firm a partner can claim a set offs. When the Partnership Firm is not yet registered under the Indian Partnership Act, 1932, the aforementioned capacity to claim set-off is unavailable.

• Possibility to Sue a Co-partner

  Disagreements in a partnership are pretty common and unpredictable. It usually may be over profit sharing or how the Partnership Firm is run. Any disagreement can be sorted out through the court of law or with a legally drafted partnership deed.

• Entity Conversion

  When compared to an unregistered firm, a partnership firm that has been registered with the Registrar of Firms is easier to convert and upscale. It is simple to convert a partnership firm into another entity, such as a private company or LLP, or into a corporate structure.

Eligibility

• A partnership must have at least 2 members
• The total number of partners is 10 for banking firms and 20 in other companies
• Each partner is a ‘contractual partner’ meaning they are bound by a binding contract
• An initial partnership deed registration format requires a number of factors to control the relationship in the right order
• The deed, which binds them all together, is signed by each partner
• All the partners should be above 18.

Why Vakilsearch

Forming a partnership firm is of paramount importance and a legally complicated process. If you breach any compliances then there are high chances that you may be fined by the legal authorities. This is where Vakilsearch comes into the picture. Our team provides clarity on the registration process and provides holistic support in completing the partnership firm registration online. Book a slot right now to get your firm registered quickly.