Partnership Firm Registration in Chennai

Solubilis provide Partnership firm registration services in Chennai, Bangalore, Hyderabad, Cochin and anywhere in India. Partnership firm is a form of business organization in which two or more persons (maximum of 20 persons) joined together to undertake business activities, offer capital to the partnership firm and agree to share the profit / loss of the business carried on by all or any of them acting for all, - Section 4 of the Indian Partnership Act, 1932. The partnership firm created by way of an instrument, namely called “Partnership Deed”. The partnership firm may be a registered firm or unregistered firm.

The difference between registered and unregistered partnership firm:

A partnership firm shall be called as registered partnership firm, wherein the partnership deed is registered with a registrar of firms formed under the State government and complied all and necessary procedural formalities such as filing of return etc. as required under law.

Unregistered partnership firm shall different tax treatments under the incomes Tax Act.

The partnership firms are governed by Indian Partnership Act, 1932.
Minimum two persons and maximum of 20 persons required to form a partnership firm.
The partners shall share profit or loss incurred in the partnership business as agreed among the partners.
Partnership is created by a way of agreement which shall be registered with the registrar (document registrar).
Among the partners one or two persons may be termed as managing partner who shall manage the day to day affairs of the partnership business and others will act as a “silent partners”.
The liability of the partners in the partnership firm will be unlimited.
Partners are considered as an agent to the partnership firm.
Partners cannot simply transfer their capital to another person without seeking the consent of all other partners.

If few of the friends joined together and would like to carry on the business for an initial period of one or two years registered partnership firm shall be the opted option to the partners. Solubilis shall assist the partners in forming registered/ unregistered partnership firm in such a way that later the same firm can be easily converted into a private/public limited company without any hassles.

Registration requirements under various legislations to form Partnership firm, Proprietorship, One Person Company, Private Limited Company, Public limited company, LLP, Sec 8 Companies. Registration of partnership deed (land registrar) register the registration of firm, PAN/TAN/ GST/IE Code/ Professional tax registration and shop establishment Act. Registering for professional tax, PF registration, ESI registration, trade related registration (for hotel, food and safety license) ISI registration, ISO registration, SSI registration.

Name of your business firm.
Place, where the business is functioning.
Places, where any other branches carried out for business.
Partner's full name, their permanent address with the date of joining as the partners in the firm.
- PAN Copy of all the partners.
- A copy of address proof of all the partners.
The main business activity of the firm.
Ownership proof of the business place if it is rental, copy of rental agreement or EB bill is required.

FAQ'S

Solubilis is the best service provider; we take 5-7 days to register the private limited company.

Capital is the initial amount in cash or kind contributed by the partners to start the business. It is not necessary for each partner to contribute equally to the capital. Contribution is based on the agreement between the parties.

Partners must be major (above the age of 18), should be sane and should not be disqualified by law from entering into a contract.

A minor admitted to the benefits of partnership, has the option to become a partner within six months of attaining majority. He has to give a public notice stating his acceptance or rejection of partnership. In the absence of a notice, it is considered that he has become a partner of the firm.

A Certificate of Partnership is a legal document filed with the state government to register a limited partnership. These vary by state and each has its own requirements, we recommend that you contact your State Department for more information about your State’s requirements.

If a partnership deed does not provide for duration or for dissolving the partnership in any manner, it is a Partnership at will.

Yes, a partner can transfer his interest in the business to an outsider, but only with the consent of all other partners.

A partnership firm cannot become a partner of another firm because it is not a legal person. However the partners may be partners in another firm in their individual capacity

The Partnership Act does not prohibit a non-citizen from joining an Indian partnership firm, subject to necessary clearances and permissions from satisfactory authorities in this regard.