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Get Your Free Consultation →A simple, cost-effective way for two or more people to run a business together. Quick to set up, minimal compliance, and governed by a clear partnership deed.
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A Partnership Firm is a business owned by two or more people who agree to share the profits and responsibilities of a business, governed by the Indian Partnership Act, 1932. The terms are set out in a partnership deed.
Registration of a partnership firm is optional, but a registered firm enjoys important legal advantages — such as the ability to sue third parties or partners to enforce rights. It is quick and inexpensive to establish, with minimal ongoing compliance.
Note that a partnership firm does not offer limited liability: partners are personally liable for the firm’s debts. It suits small businesses and family ventures that prioritise simplicity and low cost over liability protection.
A Partnership Firm is one of the easiest and cheapest ways to formalise a joint business.
Formed simply by executing a partnership deed — minimal formalities and low cost.
No mandatory annual MCA filings or statutory audit thresholds like companies have.
Partners pool capital, skills and effort, and share profits as agreed in the deed.
A registered firm can enforce its rights in court against partners and third parties.
A simple, fully online process handled end-to-end by your dedicated CA.
A CA understands your business and advises on deed terms and whether to register the firm.
We prepare a comprehensive partnership deed covering capital, profit-sharing and duties.
Partners sign the deed on stamp paper; we help with notarisation as required.
We apply for the firm’s PAN and, where chosen, register it with the Registrar of Firms.
Professional fees shown below. Government fees & stamp duty vary by state and are charged at actuals.
Partnership deed drafting plus firm PAN and registration support.
+ Government fees at actuals
No, registration is optional under the Partnership Act. However, a registered firm gains important legal rights, such as the ability to sue to enforce contracts.
No. Partners have unlimited liability and are personally responsible for the firm’s debts. For liability protection, consider an LLP or a company instead.
A partnership firm can have a minimum of 2 and a maximum of 50 partners.
It is the legal agreement between partners setting out capital contribution, profit-sharing ratio, roles, and rules for admission or exit of partners.
Yes. A partnership firm can be converted into an LLP or a private limited company as the business grows. We can guide you through the process.
Book a free consultation with a Chartered Accountant today and get a clear, no-obligation plan for your registration and compliance.
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