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Partnership Firm

The partnership firms are governed by the Indian Partnership Act, 1932.

A partnership firm is an organization which is formed with two or more persons to run a business with a view to earn profit. Each member of such a group is known as partner and collectively known as partnership firm.

Advantages:

Partnership registration is very easy.
Partnership registration is inexpensive as compared to LLP.
It has minimum compliance requirement.
Flexibility in Operation.

Documents required:

Statement in Form 1 with the prescribed fees
copy of the Partnership Deed must be Notarised stating the following :

The firm-name
The nature of business of the firm
The place or principal place of business of the firm
The names of any other places where the firm carries on business
The date of joining of each partner
The names in full and permanent addresses of the partners
The duration of the firm

Proof of ownership or rent/lease of the location of your business.(e.g. Electricity Bill/ Water Bill or Rent/Lease/Leave and Licence Agreement of Business Place)
Copy of PAN Card of partners
Copy of Aadhaar Card/ Voter identity card
Affidavit declaring intention to become partner

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