Partnership Firm
Where ambition meets protection and trust.
What is a Partnership Firm?
A Partnership Firm is one of the most common and simple forms of business structure in India, where two or more individuals come together to manage and operate a business with the objective of earning profits. The relationship between partners, including their rights, duties, and profit-sharing ratio, is governed by a partnership deed. Partnership firms are easy to establish, require minimal compliance, and allow partners to combine their resources and skills for business growth. While they can be either registered or unregistered, registration is always recommended as it provides better legal protection and credibility.
Key Features of a Partnership Firm ?
Formation by Agreement – Created through a partnership deed that defines roles, duties, and profit-sharing.
Minimum Two Partners – Requires at least two individuals to start (maximum limit of 50 partners).
Shared Profits & Losses – All partners share profits and bear losses in the agreed ratio.
Unlimited Liability – Partners are personally liable for the firm’s debts and obligations.
No Separate Legal Entity – The firm and its partners are legally considered the same.
Flexible & Simple – Easy to establish with minimal compliance compared to companies.
Why Choose a Partnership Firm ?
Easy Formation – Quick and simple setup with minimal legal formalities.
Low Cost & Compliance – Cost-effective and requires fewer regulatory requirements.
Shared Responsibility – Partners share workload, resources, risks, and decisions.
Flexibility – Easy to manage and adapt as per mutual agreement among partners.
Documents Required for Partnership Firm Registration
1. Identity Proof (Any One of the Following):
PAN Card (mandatory for Indian nationals)
Passport (for foreign nationals)
Aadhaar Card / Voter ID / Driving License
2. Address Proof (Any One of the Following):
Recent Bank Statement (not older than 1 months)
Utility Bill (Electricity / Telephone / Mobile, not older than 1 months)
Aadhaar Card / Driving License
3. Passport-size Photographs:
- Latest, clear photographs of the director and nominee.
4. Proof of Registered Office Address:
- Electricity Bill / Water Bill / Property Tax Receipt (not older than 1 months)
- Rent Agreement (if the property is rented)
- No Objection Certificate (NOC) from the property owner
5.Partnership Deed:
- A duly executed Partnership Deed outlining the rights, duties, and profit-sharing ratio of partners.