09 October 2012
The general procedure for registering a partnership firm all over India is quite similar: •You have prepare a “Partnership deed” •Fill in the required form at the “Registrar Of Firms” office near you. •Submit the required form, the “Partnership Deed” and other supporting documents to the “Registrar Of Firms” for approval.
Preparing the “Partnership Deed”
The “Partnership Deed”, as stated above, must contain: •The amount of capital contributed by each partner •Profit or loss sharing ratio •Salary or commission payable to any partner, if any •Duration of business, if any •Name and address of the partners and the firm •Duties and powers of each partner •Nature and place of business; and •Any other terms and conditions to run the business
The partnership deed is usually not very hard to prepare through a local lawyer.
This partnership deed must be made on stamp paper as per the laws of the place of signing. The whole process of drafting the partnership deed can be done through a trusted lawyer. It should cost you around Rs.1000/- to prepare the deed.
After preparation of the deed, it must be signed by all the partners. It must also have signatures of independent witnesses.
The deed is then submitted to the “Registrar Of Firms” along with the registration form and other supporting documents. On approval of these documents by the “Registrar Of Firms” the “Partnership Firm” is established as a legal entity and can start business under the chosen name.
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