Simplify Your Partnership Firm Setup
Starting a partnership firm is one of the most flexible and popular business structures in India.
It allows two or more individuals to combine skills, resources, and capital to run a business together.
At N D Savla & Associates, we help entrepreneurs and partners register their Partnership Firm quickly,
legally, and affordably. Whether you’re forming a new partnership or registering an existing one, our team
ensures a smooth end-to-end process.
What is a Partnership Firm?
A Partnership Firm is a business structure where partners share ownership, responsibilities, profits,
and liabilities. The core of this structure is the **Partnership Deed**, a legal agreement that defines
each partner’s rights, duties, and profit-sharing ratios.
Although registration is optional, a **registered partnership firm enjoys legal protection, enhanced
credibility, and easier access to financing.**
Why Partnership Firm Registration Matters
- Legal Recognition: Registered firms can enforce contractual rights.
- Easier Dispute Resolution: Legal protection in case of disagreements.
- Credibility: More trust from clients, suppliers, and lenders.
Who Can Become a Partner?
- Indian citizens above 18 years and mentally sound
- Registered partnership firms
- Hindu Undivided Family (HUF – Karta)
- Companies with aligned objectives
- Trustees (if permitted under trust deed)
Advantages of a Partnership Firm
Easy Formation
Simple registration with minimal formalities.
Diverse Skills
Partners bring varied skills that strengthen the business.
Shared Responsibility
Financial and operational burden is distributed.
Tax Benefits
Profits are taxed at individual partner rates.
Flexibility
Quick decision-making and operational freedom.
Access to Capital
Easy to add partners and increase capital.
Disadvantages of a Partnership Firm
Unlimited Liability
Partners are personally liable for firm’s debts.
Limited Capital
Funding depends primarily on partners' contributions.
Possibility of Conflicts
Differences in opinions may lead to disputes.
Growth Limitations
Might face challenges scaling to larger operations.
Lack of Continuity
Firm may dissolve if a partner exits or passes away.
Tax Complexity
Partners must file individual tax returns.
Partnership Firm Registration Process
- Select a unique business name
- Draft a legally compliant Partnership Deed
- Submit deed and application to Registrar of Firms
- Obtain Certificate of Registration
- Apply for PAN & TAN of the partnership firm
Why Choose N D Savla & Associates?
• Expert assistance in drafting partnership deeds
• Complete documentation and filing support
• Affordable and transparent pricing
• Timely updates throughout the registration process
• End-to-end compliance and post-registration advisory
Documents Required
- PAN Card of all partners
- Aadhaar Card of partners
- Partnership Deed
- Address proof of firm (utility bill / rental agreement)
- Passport-size photos of partners
Partnership Firm Compliance
- Individual Income Tax filing for partners
- GST returns (if GST registered)
- TDS returns (if applicable)