This package includes:
Partnership deed drafting
PAN and TAN.
This package includes:
Partnership deed drafting
PAN and TAN
GST registration
This package includes:
Partnership deed drafting
Deed registration.
PAN and TAN.
GST registration.
Partnership
A Partnership can be registered or unregistered. Partnerships are ideal for small business in the unorganized sector having multiple promoters. In the unorganized sector, a Partnership is ideal for small businesses having multiple promoters. Eazy startup offers partnership registration from Rs.3899/-
A Partnership firm is suitable for Businesses that are owned, managed,
and controlled by an Association of People for profit. These types of firms are
prevalent in small to medium sized businesses within the unorganized sector and
are relatively easy to setup. Since the introduction of Limited Liability
Partnerships in India, and their benefits, Partnership Firms are rapidly losing
their prevalence.
Having a registered partnership form, although not mandatory, has its
benefits. There are two types – registered and un-registered. You would need a
Partnership deed drafted amongst the Partners to create a Partnership firm.
Contact us to help start a registered or un-registered Partnership firm in
India.
ADVANTAGES
Easy to Start
Since a partnership firm does not need to be registered, there are no
legal requirements, making it easy to establish and manage. However, this
prevents a firm from having several legal benefits. The Registrar of Firms
administers the registration of partnership firms.
Business Name
A Partnership firm can choose to have any name as long as it does not
infringe on a registered trademark. An unregistered partnership firm’s name may
be used by any company since it is not registered unless the name has been
trademarked.
Partnership Deed
The Registrar of Companies registers a Partnership deed which exhibits
the ownership of the firm, the profit-sharing ratio, and rights and
responsibilities of each partner.
Annual Filing Not Required
Unlike a Limited Liability Partnership or Company, a Partnership firm is
not mandated to file its annual accounts with the Registrar of Companies every
year.
Bank Account
A Partnership firm can open a bank account in its name. To initiate the
process, the KYC documents and the partnership deed copy should be submitted
along with any other document to fulfill the requirements of Bank.
PROCESS
To draft a suitable Partnership Deed that is acceptable to all Partners,
a Financial expert will primarily understand your business requirements, assess
your partners the partnership structure and other important details.
Partnership Deed Registration
Eazy startup will provide you the help to register the Partnership Deed
based on your requirements and the requested services with the suitable
authorities of the applicable states to create the Partnership or a Registered
Partnership Firm.
Obtaining PAN and TAN
We will help you obtain PAN and TAN registration based on your requirements for your Partnership Firm from the relevant Authorities once the Partnership Firm is registered.
Q: What is the capital required to start a Partnership?
A: There is no limit or minimum required capital for partnership firms and can start with any amount of capital.
Q: Documents required for getting registered for Partnership.
A: Identity and address proof of all the partners and address proof of office where the registered firm is going to operate. Pan and Aadhar card and photographs of all the partners is mandatory.
Q: How long does it take to get registered for Partnership firm
A: We at Eazy Start-up will help you to complete the registration process within 8 - 10 days.
Q: Minimum number of members to start Partnership firm
A: In a partnership firm, at least 2 persons should be as partners and a maximum of 20 partners are accepted.
Q: Eligibility criteria for becoming a partner in Partnership firm
A: To be as a partner in Partnership firm, an individual must be above 18 years . He can be a citizen of any nation (Indian, Foreigners, and NRIs) but at least one partner should be an Indian, according to the Indian Partnership act 1932. A Body corporate can be a partner of the partnership firm through its authorized representative.
Q: Annual compliances required for a partnership firm
A: Partnership firm will have to file their annual tax return with the Income Tax Department. Other tax filings like service tax filing or VAT/CST filing may be necessary from time to time, based on the business activity performed. However, annual report or accounts need not be filed with the Ministry or Corporate Affairs, which is required for Limited Liability Partnerships and Companies.
Q: Is audit required for Partnership firm?
A: It is not necessary for Partnerships to prepare audited financial statements each year. However, a tax audit may be necessary based on turnover and other criterion in a partnership firm, it is not necessary to prepare audited financial statements every year but, it is required to prepare a tax audit based on turnover and other conditions.