Partnership Firm Registration in Telangana

Overview

Partnership firm registration in Telangana is the process of registering a partnership business with the government of Telangana. By registering a partnership firm in Telangana, the partners can legally establish their business, enjoy the benefits of a partnership, and gain recognition from the government. The process involves submitting the required documents, filling out the relevant forms, and paying the required fees. The partners receive a certificate of registration as verification of their partnership status after the registration process is completed.

Eligibility Criteria

• At least two partners are required to start a partnership firm in Telangana
• The minimum age of the partners should be 18 years
• There is no maximum limit on the number of partners in a partnership firm
• Partners can be individuals or companies
• Partners must have a PAN card and a valid proof of address
• The partners must have a clear understanding of their rights and obligations as per the partnership agreement
• A minimum capital investment is not required to start a Partnership firm in Telangana
• The partners should agree on the profit and loss sharing ratio and other important aspects of the partnership firm.

Did You Know?

A total expenditure of ₹2,90,396 crore was suggested in the state budget for Telangana by finance minister T Harish Rao. Which is ₹34,000 crore more than the ₹2.56 lakh crore outlay planned in the previous budget.

Benefits

• Easy to Start: Starting a partnership firm in Telangana is easier and less expensive compared to setting up a private limited company or a limited liability partnership (LLP)
• Shared Responsibility: The partners are jointly responsible for the business operations and can share the workload, which can reduce stress for any one individual
• Access to Credit Register partnership firm can apply for loans and other forms of credit with more ease compared to unregistered firms
• Better Credibility: A registered partnership firm is seen more credible by customers, suppliers, and other business partners compared to an unregistered firm.

Online

The process of opening a partnership firm in Telangana is very easy. It involves registering your partnership firm under the registration of firms under the Government of Telangana . Vakilsearch can complete the process as mentioned below:

Step 1: Talk With Our Experts

Our team of company registration online 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 Documents

• 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.

Step 3: Partnership Firm Registration

After receiving all the documentation, our experts will register your firm in Telangana by filing the required documents. A registration certificate will be provided after the process.

Offline

• Choose a suitable name for the partnership firm and get it approved from the Registrar of Firms
• Prepare the partnership deed that includes details such as the name of the partners, their capital contribution, profit sharing ratio, etc
• Obtain PAN and TAN for the firm
• Visit the Registrar of Firms office in Telangana and submit the required documents including the Partnership Deed, PAN, TAN, and ID proofs of all partners
• Pay the required fee for registering the firm
• Once the documents are verified and the fee is paid, the Registrar of Firms will issue a certificate of registration for the partnership firm
• The firm can now start its operations and carry out its business activities.

Documents Required

• Identity proof of partners (Aadhar Card, PAN Card, Voter ID, Passport)
• Proof of address of partners
• Proof of business address (rent agreement, NOC from the owner)
• PAN card of the partnership firm
• Partnership deed, signed by all partners
• GST registration certificate (if applicable)
• Bank account details and cancelled cheque.

Why Vakilsearch

Registering a partnership firm offers several benefits, including legal recognition, tax benefits, and protection of partners' personal assets. It is a simple process that can be completed online or offline with the submission of the required documents. By registering their partnership firm in Telangana, individuals can ensure a smooth and hassle-free business operation, while also complying with the legal requirements of the state. Our team of experts can resolve all your queries and kickstart the registration process without much hassle. We will take care of all the documentation. Book a slot now.