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Partnership Registration in Mumbai

Partnership Registration

Register your Partnership in 12 to 14 Business Days*

Documents Required

  • PAN Card of Partners
  • Partnership Deed
  • Translated Partnership Deed
  • PAN application form
  • NOC from the owner for using the premises (In case Rented)
  • ID proof (Passport/Voter’s id card/Driving license)
  • Address Proof: (Bank Account Statement, Electricity Bill)

Basic Plan

₹ 2999/- Including (Government Fees + GST)
  • Drafting of the Partnership Deed
  • Partnership PAN & TAN Application
  • Govt Fees for Capital upto Rs 50,000

Partnership Firm Registration

Ideal for small and medium-sized business
starting at Rs. 2999 (All Inclusive)

In India, establishing a general partnership firm is a simple and popular way of starting a business. Such a business can be formed by two or more people who work in tandem and are called partners. All partners in a partnership firm own the business, manage it, and also share their income as well as liabilities amongst each other.

It is easy to set up a partnership firm but each partner holds innumerable liabilities. Liabilities of partners are unlimited, even the personal properties of the partner shall be used to settle the liabilities of the firm. For a partnership firm registration process, partners must collectively decide upon a firm name. They must create a partnership deed that includes the rights and responsibilities of each of the partners.

Any area that is not covered under the partnership deed comes under the regulations of the provisions of the Indian Partnership Act 1932. A partnership firm registration is not obligatory in India except that in Maharashtra. However, a registered partnership firm can enjoy many benefits compared to an unregistered one. Hence, it is advisable to get your partnership firm registered.

In India, MyEfilings is one of the most affordable, experienced, and efficient service providers for your partnership firm registration.

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Benefits of a Partnership Company

It is easy to form a partnership firm and it involves very few legal formalities. Except in Maharashtra, it is not mandatory to register a partnership firm. This allows your partnership firm to begin its business right away after you and your partners enter into the partnership deed. However, owing to the benefits a registered partnership firm receives; it is always advisable for you to have a registered partnership firm.
You and your partners can choose any name for your firm. However, you need to be vigilant so that your chosen name is unique enough so as not to infringe on the copyright of any other person or any trademark. You should also get a trademark of your chosen name for the partnership firm so that no other people can use the same name for their business.
Partners manage their business very well in a partnership firm as they show interest in the day-to-day affairs of their business because of ownership control and profits.
As per the act, all the partners of a partnership firm have the same managerial rights. But as per your convenience, you can have some partners as managing partners while others can willingly give in their managerial rights to the managing partners. The partners have shared and numerous other responsibilities.
As a partnership firm, it is not necessary for you to file audited financial statements with the registrar of firms. This leaves your partnership firm free from getting your books of accounts from being audited. However, under the Income Tax Act, it may be necessary for you to get tax audits if your income surpasses the agreed limits.
As compared to a company or an LLP, a partnership firm does not have too many annual or event-based compliances and regulations to follow.

To end a partnership firm all you need to execute a dissolution deed and in case the firm is a registered one necessary intimation is required to be given to Registrar of Firms (ROF). Unlike a company or an LLP, a partnership firm needs very few legal processes to wind up a business.

Partnership Registration Process

Choose a Plan

You can choose any of our plans based on your requirements.

Gathering of Details and Drafting of the Deed

We share the first draft of the deed with you within four working days after understanding your partnership structure, your business requirements, and all the other terms and conditions.

The Final Draft and Approval

We at MyEfilings, if necessary, help you with up to two rounds of alterations. We then prepare the final partnership deed.

Registration Process

If you want to register your partnership firm, you have to get it done with the Registrar of Firms (ROF).

Applying for PAN & TAN

We at MyEfilings will apply for Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) of your partnership firm.

Successful Registration

You can immediately begin working as a partnership firm!

Documentation Needed For Registration

  • 1. Copy of PAN Card of Partners
  • 2. Partnership Deed
  • 3. Translated Partnership Deed
  • 4. PAN application form signed by anyone of the partner
  • 5. One of the following as Identity Proof:
  • a. Copy of Voter’s ID card
    b. Copy of Passport
    c. Copy of Driving License
  • 6. One of the following as Address Proof:
  • a. Latest Bank Account Statement
    b. Telephone or Mobile Bill (not more than 1 month old)
    c. Latest Electricity Bill
    d. Latest Gas Bill
    e. NOC from the owner for using the premises (In case Rented)

Choose Your Plan

Basic

₹ 2999 All Inclusive Price
  • Drafting of the Partnership Deed
  • Partnership PAN & TAN Application
  • Govt Fees for Capital upto Rs 50,000
Buy Now

Standard

₹ 5999 All Inclusive Price
  • Drafting of the Partnership Deed
  • Partnership PAN & TAN Application
  • Govt Fees for Capital upto Rs 50,000
  • GST registration
  • MSME registration
Buy Now

Premium

₹ 14999 All Inclusive Price
  • Drafting of the Partnership Deed
  • Partnership PAN & TAN Application
  • Govt Fees for Capital upto Rs 50,000
  • Registration with ROF (Mumbai)
Buy Now

Startup

Rs99 / month
  • Unlimited calls
  • Free hosting
  • 500 MB of storage space
  • 500 MB Bandwidth
  • 24/7 support
Choose Plan

Basic

₹ 2999

  • Drafting of the Partnership Deed
  • Partnership PAN & TAN Application
  • Govt Fees for Capital upto Rs 50,000

Standard

₹ 5999

  • Drafting of the Partnership Deed
  • Partnership PAN & TAN Application
  • Govt Fees for Capital upto Rs 50,000
  • GST registration
  • MSME registration

Premium

₹ 14999

  • Drafting of the Partnership Deed
  • Partnership PAN & TAN Application
  • Govt Fees for Capital upto Rs 50,000
  • Registration with ROF (Mumbai)

FAQ'S

It is not mandatory to get a partnership firm registered except in the state of Maharashtra. But it is always advisable to get it registered so that you can enjoy the benefits that come with it.
In a partnership firm, a minimum of two partners and a maximum of twenty partners are allowed.
The Indian Partnership Act, 1932 governs all the partnership firms in India.
30% of total income is the rate at which a partnership firm needs to pay income tax. Income tax surcharge is added on the amount of income tax at the rate of 12%, if your income is more than 1 crore. A partnership firm must also pay education cess and secondary higher education cess at 4%, apart from income tax and surcharge.
In a partnership firm, the capital is the initial sum of money contributed by each of the partners in cash or kind to begin the business. However, it is not mandatory for each partner to pay an equal amount. The amount of contribution depends on the agreement between the partners. 
You can decide your profit-sharing ratio with your partners at the time of forming the deed irrespective of your capital contribution.
You can become a partner in a partnership firm if you are an Indian citizen residing in India. If you are a non-resident Indian or a person of Indian origin, you may also become a partner, if you meet the FEMA Regulations. However, if you are an NRI or a person of Indian origin, your investment amount will not be reparable. Also, you will be subjected to certain restrictions as far as the nature of business is concerned.
Yes, since the registration of a partnership is not a prerequisite to open a bank account. Your partnership deed will be sufficient for you to open a bank account in nearly any of the banks.
Yes. You must apply for a separate Permanent Account Number (PAN) under Income Tax Law for your partnership.
In a partnership firm, the liability of the partners is unlimited. In fact, when it comes to meet the business liabilities, the partners’ personal assets are also legally exposed.
Yes the existing partnership firm can be converted into an LLP. MyEfilings shall help you with the same.
A person may sue a partnership firm but has to disclose the name of all the partners who constitute the firm. Under the Income Tax Act, a firm can be assessed to tax independently of its partners. A partnership firm therefore enjoys a quasi independent status.
Yes, any address can be provided as the registered office address. However the consent of the owner is must for the using the property for business purpose.

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