A Complete Procedure Guide to Registration of Firm in Partnership

Let us understand Partnership Firms & Registration

A Partnership Firm is a Corporate Entity where two or more member partners come together to do business. The terms of such business must be mutually agreed upon in the case of a Partnership Firm. Therefore, the Firm applicant must specify the terms of the agreement in its Partnership Deed Registration. Only when the MCA accepts the partnership deed and the deed is added to the Partnership Registry the partnership registration is up to take a course.

Features for gaining a Partnership Firm Registration Certificate

We have specified some of the features of the Partnership Firm in this section. Every Firm applicant must look forward to such pondering points before applying for the registration of a Partnership Firm in India. The features are as follows:

• The Firm applicant must maintain a minimum of two member partners
• The member partners may/may not share the responsibilities of the Firm
• By registering for the Partnership, the business can bring more capital into its conduct
• Risk is shared between the member partners in a Partnership Firm
• MCA does not mandate the Partnership Firm to submit the Annual Returns

The applicant must ensure that the following in the papers of the Partnership Deed:

• Tasks that the Partnership venture performs
• Profits shared among the member partners
• Responsibilities of member partners

Register Partnership Firm Online: Procedure

The firm registration process is not ubiquitous and varies from state to state. For some states, online Partnership Registration is an option. But, in most cases, the Partnership Incorporation Process is still offline because of the Partnership Registration Act. Partnership Act was established in 1932 and has not undergone any changes from its inception.

The procedure, as per the Partnership Act of 1932, for Partnership Registration, is as follows:

1. Appoint the member partners for incorporation
2. Then, create the first draft of the partnership deed, as per the Business’s needs
3. Make the necessary changes to the draft as per the member partner’s requirements
4. File the registration application to the Registrar’s Office. Afterwards, you can submit the partnership deed online if the State Legislature allows it
5. The Registrar, on reception, assesses both the partnership deed as well as the application
6. Registrar grants the partnership registration certificate upon verification
7. Finally, the partnership deed gets certified
8. After procuring the registration certificate, the applicant can start your business operations right away

The name registration process for a Partnership Firm is not an easy one. So, the incorporation experts at Registrationwala can help you in every necessary way. Through our detailed registration facilities, the Firm applicant can start your Partnership Firm in no time.

Incorporation Of Partnership Firm: Required Documentation

The Firm applicant must submit the following documents for Partnership Firm registration in India:

1. Duly filled application for Partnership Firm registration in prescribed MCA Form – I
2. Complete Specimen of Affidavit
3. Certified copy of the Partnership Agreement on Non-Judicial stamp paper
4. Proof of Ownership of the office facility
5. Rental/Lease Agreement of the official Facility
6. Affixed Court Fee stamp
7. Payment of the prescribed Firm Registration fee (Demand Draft)

If you wish to know more about the registration procedure of a Partnership Firm, connect with the incorporation experts at Registrationwala.

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Author: Dushyant Sharma

Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.