Partnership Firm

The Indian Partnership Act of 1932 deals with aspects governing partnerships. A critical aspect of partnership is that each partner is a principal as well as agent for all the other partners of the firm and therefore an act of one partner is an act of all partners. In other words, it means, each partner is liable for the actions of other partners of the firm (unlimited liability).

In India, registration of a Partnership Firms is not mandatory, however, it is recommended that one registers a Partnership Firm considering the benefits of a registered firm and restrictions on approaching a court-of-law for enforcement of rights of a Partners.

What Is The Process?


  • A Partnership Firm is registered by the Registrar of Firm of the Indian State where the office of the firm is located. The procedure and requirements for registration of Partnership Firm are fairly straight forward.
  • Application for Registration of Partnership Firm has to┬ábe made (Form 1 of the State Registrar of Firm)

Timeline

10 - 20 Working Days

Once documents are provided, you can leave the rest of the formalities on us and expect the registration to be completed within 10 to 20 working days as the time varies from State to State.

Details Required


Along with Application Form, typical documents required are:

  • Certified True Copy of the Partnership Deed
  • Address Proof of the Firm by way of sale deed or rent agreement or utility bill
  • Address and identify proofs of the partners

FAQ