A partnership Registration is one of the most important forms of a business organization. A partnership firm is where two or more persons come together to form a business and divide the profits in an agreed ratio. The partnership business includes any kind of trade, occupation and profession. A partnership firm is easy to form with less compliance as compared to companies. In India, although a number of states still follow an offline procedure, there are few states who have adopted the online registration process which requires the application to be filed with the Register of Firms.

A firm should select a name that does not resemble the name or color-able imitation of the entity that is already public. Partnership name should not be similar or identical to existing company doing the same business. Applicant can check the validity of his/her chosen name at Mca Portal.

The partnership deed is the most important document for the registration of the company as it provides the registrar with the following necessary information

• Name and address of company and all partners

• Contact details of partners

• Nature of the business

• Duration of the partnership

• Profit/Loss sharing ratio

• Rules regarding the solvency of the firm

• Information of capital to be contributed by each partner

A firm, irrespective of registration under the Act, has to apply for a Permanent Account Number to the Income Tax Department. This can be applied on the basis of a current account in the name of the firm. The PAN is a requirement to fulfill the obligation of paying taxes.

Required Documents for Partnership Registration

• Application for registration of partnership (Form 1)

• Certified original copy of Partnership Deed.

• Specimen of an affidavit certifying all the details mentioned in the partnership deed and documents are correct.

• PAN Card and address proof of the partners.

• Proof of principal place of business of the firm (ownership documents or rental/lease agreement).