Partnership Firm Registration

Start in 20 days

@ Rs. 2,999

(GOVT Fees + Consulting Fees)

Monthly EMI Option Available

About Partnership Firm Registration

Partnership firm registration is mandatory for any association of people join together for a business purpose to share their profits. In India (Madhya Pradesh) all partnership firm is regulated by the Indian Partnership Act, 1932 and as per this provisions, partnership firm must be registered. In this article, we look at the procedure for registering a partnership firm in Madhya Pradesh.

Benefits of Registering a Partnership Firm

The benefits of registering a partnership firm under section 69 of the Indian Partnership Act, are listed below:

  • Power to file a case in a court by a partner against the firm or other co-partners.
  • Power to file a case in court by the firm against third parties.
  • Power to claim setoff.

Partnership Deed

A Partnership Deed is an agreement in which the respective terms and conditions of the members of a partnership are stated. The Partnership deed consists of following characteristics they are mentioned below:

  • Both Partners and Firm name as well as address.
  • Business nature to be carried on by partners
  • Date of business commencement
  • The term of Partnership (whether for a fixed period/project)
  • Capital contribution from each partner
  • Profit sharing ratio among the partners

Documents Required

The required documents are to be submitted along with the application form.

  • Partnership deed
  • Affidavit of acknowledgement of all the details mentioned and Attested by Notary
  • Office Address proof
  • Address proof of all the partner
  • ID Proofs of Partners
  • Passport size photographs of all partners
  • Rent agreement from Owner of the house (optional