Partnership Registration
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Partnership Firm Registration

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Get your partnership firm deed drafted by our experts, along with firm PAN and GST registration.

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Partnership Firm Registration

Get expert assistance from Hiva Professionals for your partnership firm registration online at affordable prices.

What is a Partnership Firm?

A partnership firm is a popular choice among entrepreneurs due to its simplicity and flexibility. It allows multiple individuals to come together and combine their resources, skills, and expertise to run a business. Registering your partnership firm is the first step towards formalizing your partnership and ensuring its legal recognition.

Governing Law

Partnership firms in India operate under the Indian Partnership Act, 1932. Partners form the firm through a contractual agreement known as the partnership deed.

Partnership Deed

This legal document includes rights and duties of partners, profit sharing, capital contributions, and more. Registering the deed is vital to avoid disputes and serve as legal proof.

Who Can Be a Partner?

  • Individuals who are mentally and legally fit
  • Registered firms and companies
  • HUF leaders contributing personal skill/labor
  • Trustees of specific trusts (as permitted)

Advantages

  • Easy to form and manage
  • Shared financial burden
  • Tax benefits at partner level
  • Greater access to capital and skill diversity

Disadvantages

  • Unlimited personal liability
  • Capital raising limitations
  • Potential conflicts and continuity issues

Importance of Registration

  • Legal standing to enforce rights
  • Eligibility to sue third parties
  • Right to claim set-off in legal cases

Registration Process

  1. Obtain DSC for all partners
  2. Get DPIN from MCA
  3. Choose a unique firm name
  4. Draft the partnership deed
  5. Apply for registration with Registrar of Firms
  6. Obtain Certificate of Registration
  7. Apply for PAN and TAN

How Hiva Professionals Can Help

At Hiva Professionals, we offer complete support for partnership firm registration online. From documentation and name selection to filing and compliance, we handle everything efficiently at a reasonable cost. Our expert team ensures seamless registration and continuous post-registration assistance for your business growth.

Proprietorship vs Limited Liability Partnership (LLP) vs Company

Features Proprietorship Partnership LLP Company
Definition Unregistered type of business entity managed by one single person A formal agreement between two or more parties to manage and operate a business A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company. Registered type of entity with limited liability to the owners and shareholders
Ownership Sole Ownership Min 2 Partner
  • Max 50 Partners
 Designated Partners
  • Min 2 Directors
  • Min 2 Shareholders
  • Max 15 Directors
  • Max 200 Shareholders
  • For One Person Company
  • 1 Director
  • 1 Nominee Director
Registration Time 7-9 working days
Promoter Liability Unlimited Liability Limited Liability
Documentation
  • MSME
  • GST Registration
 Partnership Deed
  • LLP Deed
  • Incorporation Certificate
  • MOA
  • AOA
  • Incorporation Certificate
Governance - Under Partnership Act Act, 2008 Under Companies Act, 2013
Transferability Non-Transferable Transferable if registered under ROF Transferable
Compliance Requirements Income tax filing if turnover is more than Rs.2.5 lakhs ITR 5
  • FORM 11
  • FORM 8
  • ITR 5
  • ITR 6
  • MCA FILLINGS
  • AUDITOR'S APPOINTMENT
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