Start your business with shared ownership and control. Register your Partnership Firm to operate legally under a formal agreement between two or more people. Ideal for family-run businesses, small agencies, and joint ventures.
📘 What is a Partnership Firm?
A Partnership Firm is a business structure where two or more individuals join together to operate a business with shared responsibilities and profits. It is governed by the Indian Partnership Act, 1932 and requires a Partnership Deed to outline the terms and obligations of each partner.
While registration of a partnership firm is optional, registered firms enjoy greater legal recognition and protection in case of disputes.
✅ Key Features & Benefits
Feature
Description
Shared Ownership
Business is jointly owned and managed by partners.
Partnership Deed Governs All
Profit share, roles, and liabilities defined in deed.
Low Cost Setup
No ROC registration required like Pvt Ltd or LLP.
Flexible Structure
Suitable for family-run or joint-ownership firms.
Easy Tax Filing
Only Income Tax Act compliance is mandatory.
Bank Recognition
Registered deed allows opening of business current accounts.
👤 Who Should Opt for a Partnership Firm?
Small shops & service businesses
Family businesses
Startups with co-founders
Agencies with 2+ team members
Offline traders & retailers
📑 Documents Required
For Partners:
PAN Card
Aadhaar / Voter ID / Passport / DL
Passport-size photographs
Email ID and Mobile number
For Business:
Proof of Business Address (utility bill)
Rent Agreement (if rented)
NOC from owner (if not owned)
For Registration:
Draft Partnership Deed
Stamp paper (as per state laws)
Partnership firm name
🛠️ What’s Included
Consultation on selecting structure & profit ratio
Drafting of Partnership Deed
Partnership Firm PAN Application
Firm TAN Number (if needed)
Guidance on Udyam (MSME) & GST Registration
Assistance in opening current account
State-wise firm registration (if applicable)
📋 Registration Process
Step
Task
Timeline
1️⃣
Consultation & Document Collection
Day 1
2️⃣
Drafting & Finalizing Partnership Deed
Day 1–2
3️⃣
PAN Application for Firm
Day 3
4️⃣
Registration with Registrar (optional but recommended)
Day 3–5
5️⃣
MSME & GST Filing
Day 5+
🕐 Total Time:3–7 Working Days
📌 Post-Registration Compliance
Apply for TAN (if TDS applicable)
File Income Tax Returns annually
Register under GST (if turnover > ₹20 lakh)
Maintain financial records
Renew firm registration (if applicable by state)
💡 Why Choose SITPakz Solution (SSPL)?
🧾 Professional partnership deed drafting
📍 PAN India support from Andaman-based team
🏷️ State-specific advice for optional registration
