Procedure for LLP Registration
Complete the Partnership Form:
Fill out our simple online questionnaire and submit the required documents.
Verification of Documents:
Our experts will verify the details you provide.
Drafting the Partnership Deed:
After document submission, we will draft your Partnership Deed.
Apply for TAN & PAN:
We will prepare and file all necessary documents with the Registrar of Companies (ROC) on your behalf.
Completion:
Receive your LLP registration.
What is Partnership Registration?
A Partnership is a business structure where two or more individuals manage and operate a business as per the terms outlined in a Partnership Deed. While not mandatory in most states under the Indian Partnership Act, 1932, Maharashtra requires mandatory registration.
Why Choose Partnership Registration?
- Simple Process: Easy to register and operate.
- Affordable: Cost-effective compared to LLP.
- Minimal Compliance: Low regulatory burden.
Documents Required for Partnership Registration
- Form 1: Statement with prescribed fees.
- Proof of Business Location: Electricity bill, water bill, or rent agreement.
- Notarized Partnership Deed: Includes:
- Aadhaar card, PAN card, and photo
- Bank statement or canceled cheque
- Address proof (electricity bill, property tax receipt, etc.)
- Partner Identification: PAN and Aadhaar or Voter ID card copies.
Steps for Partnership Registration
- Submit Documents to the Registrar: Provide all necessary documents to the state's Registrar of Firms.
- Obtain Registration Certificate: Upon verification, the Registrar issues the certificate, and copies are given to all partners.
- Register with the Income Tax Office: Acquire a PAN card and open a bank account in the firm's name to ensure compliance.
What is a Partnership?
A Partnership involves two or more individuals agreeing to share the business's profits and responsibilities. Partnerships are governed by the Indian Partnership Act, 1932, which outlines rules for operations, profit sharing, and dispute resolution. While registration is optional, it provides legal advantages, including the ability to enforce rights and resolve disputes.
Benefits of Partnership Registration
- Cost-Effective: Affordable setup and operation.
- Minimal Compliance: Reduced regulatory requirements.
- No Mandatory Audit: Simplifies operations.
- Easy to Establish: Quick and straightforward setup.
Drawbacks of Not Registering a Partnership
- No Legal Recourse: Unregistered partnerships cannot sue third parties.
- Limited Rights for Partners: Partners cannot enforce rights or claims against the firm.
- Disadvantages in Legal Disputes: Unregistered firms face limitations in set-off claims.
Minimum Requirements for Partnership Registration
- Number of Partners: At least two.
- Capital Requirement: No minimum capital is required.
Why Choose Ramesh Associates?
- Proven Expertise: Over 10 years of experience.
- Affordable Services: Economical and fast solutions.
- Satisfaction Guaranteed: 100% Service.