Partnership Firm

Partnership Firm Registration

A Partnership Firm is one of the oldest and most commonly used business structures in India, especially among small businesses, family-run ventures, traders, and professionals. It is governed by the Indian Partnership Act, 1932, and allows two or more individuals to operate a business together, sharing profits, responsibilities, and risks.

At Lakshyaniti Compliance Solution LLP, we offer hassle-free partnership registration services and drafting of legally sound partnership deeds — tailored to your unique business arrangements.

Registering your partnership adds legal clarity, defines roles and profit-sharing, and helps avoid future disputes — making your business operations more structured and secure.

✅ Why Choose a Partnership Firm?

  1. Simple to Start & Operate : Minimal formalities and quick setup make it ideal for small ventures.

  2. Cost-Effective: Lower registration and compliance costs compared to companies or LLPs.

  3. Flexibility in Management: Partners can decide roles, profit ratios, and decision-making terms through the deed.

  4. No Mandatory Audit: Unless turnover exceeds prescribed limits, no statutory audit required.

  5. Trusted Among Traders: Still widely preferred in trading, retail, and unorganized sectors.

🛠️ Our Registration Package Includes:

  1. Drafting of Partnership Deed (Customised terms: capital, profit-sharing, duties, etc.)

  2. Notarization of Deed

  3. PAN Card for the Firm

  4. Registration with Registrar of Firms (if opted)

  5. GST, MSME/Udyam, and Shop License (Optional add-ons)

  6. Bank Account Opening Assistance

  7. Free Consultation on Business Structure and Taxation

📋 Documents Required:

From All Partners:

  1. Aadhaar & PAN Card

  2. Passport-size Photo

  3. Address Proof (Driving License, Voter ID, etc.)

For Firm Address:

  1. Rent Agreement / Property Papers

  2. NOC from Owner

  3. Utility Bill (not older than 2 months)

🧾 Types of Partnership Firms We Handle:

Unregistered Partnership
For businesses that want to avoid formalities and save initial cost (note: limited legal protection).

Registered Partnership
Recommended for businesses seeking legal recognition, ability to sue, and better enforceability.

💰 Cost & Timeline

Timeline: 2–4 working days for deed + 7–10 days for PAN and optional GST/MSME registration.