A Partnership Deed is a written legal document containing a Partnership agreement between the partners of a firm that summarises the terms and conditions of their partnership under the 'Indian Partnership Act 1932'. Get help from the experts of Legal251 for making PDR.
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A Partnership Deed is a written legal document that outlines the rights and
of all partners of a business or firm. Contact us to get your Partnership deed drafted
the best way by the best legal team!
While partnering up with others for a business/establishment, one must prepare their Partnership Deed, an agreement that explains all terms & conditions about/for all respective partners to avoid any future/legal disputes. It is used to guide all parties in business conduct and deter unwarranted misunderstanding, unpleasantness and harassment among the partners at the time of the dispute.
The Partnership Deed is made under the "Indian Partnership Act of 1932" to deter uncertainty of the Partnership Deed. Nevertheless, one can create a partnership firm without registration. However, you must register your partnership firm under the Indian Registration Act for security from future uncertainties. One must take professional legal advice/help for drafting their Partnership Deed. You are at the right place if you are looking to start a partnership business because we have the best legal team who will help you with all the necessities needed for a Partnership Deed.
A partnership deed is an agreement between the partners containing a Partnership agreement between the partners of the firm. The said deed includes the terms and conditions of the partnership like the nature of the business, a specific state in which the firm will operate its business activities, partnership firm structure or a clause related to the dissolution of the firm under the “Indian Partnership Act of 1932”.
Having a registered partnership deed is not at all mandatory, but it is advised to register the firm. The registration of a partnership is done before the Registrar of Firms. Registered Partnership Firm serves as an important reference point, resolving unpredicted conflicts between the partners and protecting their interests. A registered Firm is like having a contract with one friend before starting a business together, as it ensures a smooth and successful partnership.
A Partnership deed plays the role of a roadmap for operating a smooth business between two or more people who are partners in such a business. It outlines partners' roles, rights and responsibilities.
This roadmap to a successful business operation of a Partnership firm includes the following:-
Identity and Address Proof of Partners
PAN Cards of Partners
Passport-sized Photographs of Partners
Proof of Office Address from where the business will be operated
Utility Bill of Registered Office Address like electricity bill
No Objection Certificate (NOC) from the Property Owner (if applicable)
Rent Agreement or registry papers of the property from where the business will be operated
Stamp Paper for Partnership Deed Notarization
The registration fees for Partnership Firm Registration may vary from state to state. Further, the fee structure can be broken down into three heads Government Fees, Professional fees, and Additional Costs. Further fees for registration of a partnership firm may be influenced by factors such as the type of partnership and the services provided by the registration authorities.
The main government fee can be concerning Stamp Duty and charges to be paid during the online registration on the concerned government portal. These fees vary significantly between states, ranging from Rs. 200 to Rs. 2,000. Professional fees cover the charge for services like drafting the deed, uploading relevant documents and information and liaisoning or submitting the same.
Additional Costs consist of the cost incurred for notary of affidavits, stamp paper costs and any other bank charges if applicable. Online registration generally incurs lower professional fees compared to offline filing. Legal251 provides various customized packages for relevent drafting and formal registration of a partnership based on your specific needs, ensuring transparency and avoiding any hidden costs.
Our legal experts will review all the documents you submit to lessen the chances of incorrect or misleading information to make the process smooth.
Our best Partnership Deed experts are here to help you with document requirements and registration necessities.
The respective professional will move further with your documents to apply for your Partnership Deed Registration.
After acceptance of your application by the Registrar of Firms, your Partnership Deed certificate will be generated.
You are supposed to wait until our expert reaches out to notify you of the generation of your Partnership Deed Certificate.
Following are some of the factors to keep in mind regarding the validity of a registered firm:
In India, there are two types of partnerships: Partnership at Will and Particular Partnership.
In India, the time for obtaining the Registration of a Partnership Firm varies from 14-16 working days.
Some significant grounds on which your partnership can be termed invalid are when your firm is engaged in an illegal or unlawful activity or if the court finds the firm invalid.
The main disadvantage of an Unregistered Partnership Firm is that it does not have the right to claim set-offs and cannot sue third parties or partners.
Yes, a foreigner is eligible to become a partner in an Indian Partnership Firm and can contribute to the firm's capital in some cases. There are no restrictions for a foreigner to become a partner in an Indian firm. However, the law restricts foreign investment by NRI.
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Convenient Partnership Registration
With Legal251, users can easily register online just by filling his/her name, email ID, contact number and required service. After your online registration, our team will contact you and further move with the concerned process.
Best Online Platform
Legal251 has one of the biggest online client base, thus it makes us one of the best online platforms in India, which can help you with your firm Registration. It doesn't matter where you are, we are ready to serve you online.
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The legal251 team is also known for its complete support and assistance among its clients. We not only will support you after your registration but we also appreciate your feedback.
We are familiar with the registration process as we 10 years of experience in this industry. Thus, choosing us will benefit you by working with experienced experts, that will ease and smooth the process of your service.
Our team is ready to provide you with on-time service without any delay. We know the value of your time thus without wasting any time we immediately start working on your firm registration process.
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