A Partnership Firm is a business structure where two or more individuals come together to run a business and share profits.
It is governed by the Indian Partnership Act, 1932.
Key aspects:
With Finance Saathi, you get complete support for partnership registration, including deed drafting and legal compliance.
| Particular | Details |
|---|---|
| Type | Business structure |
| Ownership | Partners |
| Law | Indian Partnership Act, 1932 |
| Liability | Unlimited |
| Requirement | Details |
|---|---|
| Partners | Minimum 2 |
| Maximum Partners | As per law |
| Partnership Deed | Mandatory |
| Business Name | Required |
| Requirement | Details |
|---|---|
| PAN Card | Partners |
| Aadhaar Card | Identity proof |
| Address Proof | Utility bill |
| Passport Size Photo | Required |
| Business Address Proof | Rent agreement/NOC |
| Partnership Deed | Signed document |
| Step | Process | Timeline |
|---|---|---|
| 1 | Drafting partnership deed | 1 Day |
| 2 | Stamp paper & notarization | Same Day |
| 3 | PAN application | 1–2 Days |
| 4 | Registration (optional) | 3–5 Days |
| Stage | Time |
|---|---|
| Complete Process | 3–5 Working Days |
| Type | Description |
|---|---|
| Registered Firm | Registered with authority |
| Unregistered Firm | Not registered |
| Benefit | Explanation |
|---|---|
| Easy Formation | Simple process |
| Low Cost | Affordable setup |
| Shared Responsibility | Work division |
| Flexibility | Easy management |
| Issue | Explanation |
|---|---|
| Unlimited Liability | Personal risk |
| Limited Growth | Less funding options |
| Disputes | Between partners |
| Compliance | Requirement |
|---|---|
| Income Tax Filing | Mandatory |
| GST Filing | If applicable |
| Books of Accounts | Maintain records |
| Issue | Impact |
|---|---|
| Improper deed drafting | Legal issues |
| Missing clauses | Disputes |
| Not registering firm | Limited rights |
👉 Finance Saathi ensures proper drafting & registration
| Feature | Benefit |
|---|---|
| Legal Experts | Accurate drafting |
| Fast Service | Quick setup |
| Affordable Pricing | Budget-friendly |
| End-to-End Support | Complete assistance |
| Dedicated Support | Personal help |
| PAN India Service | Nationwide coverage |
Business with 2+ partners
Optional but recommended
3–5 days
2
Unlimited
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