What is a Partnership Deed? By Vishesh Jangir

Partnership Deeds are the written proof of a business partnership instead of any oral chaotic partnerships. They are meant to avoid any future conflicts. Partnership Deeds are created on stamp paper gathered from respective State Registrar Office. Every Partner has to self-attest the deed in which every formality and duty related to business/Firm is mentioned.

Partnerships are very convenient to form in India as there are no difficult business formalities needed to be completed. It is also not mandatory to register partnerships. This totally depends upon the discretion of the partners if they want to register for their firm or not. Although it is important to not that for availing legal advantages for the firm, partnerships should be registered. Thus, it is advisable throughout the market to do so.

What are the documents required for Partnership Registration India?

Documents of Partners -There are two documents required for the partners to submit i.e., (1)Pan card (Submission of PAN number as identity proof is required) and (2)Address Proof of Partners (For this partner can either submit their Aadhar Card, driving License, Passport or Voter ID to give proof of their address. It is important for the details to match on PAN Card and the document provided for Address Proof.)

Documents of Firm – The below listed Documents are important to be gathered for Filing Partnership Deed.

It is important for the Owners/ Partners to apply for the (1)PAN of the Firm. Please Note one has to fill Form 49A to apply for a PAN of the Firm. You can also complete this Procedure Online Using Digital Signature Certificate. On Secondary note you can send the same to the nearest PAN processing unit available near your city.

(2)Address proof of the Firm is also required. If the space is rented then you have to provide rent agreement and utility bills which accounts as Electricity bill, Property Tax bill, Gas Receipt etc. NOC from the landlord is also required in this case. Although If you are working on owned place then utility bills as specified above should be submitted. Although all of these bills should have the name of the owner.

Other Important Documents Required- In this situation where Partners desire to register the Partnership Firm they are required to submit the partnership deed with their ID, address Proof of the firm as well as of Address Proof every Partner. Along with these an affidavit stating that every specific detail of the deed and every document submitted is correct and there is any discrepancy within it.

GST Registration for the Firm – To get GST registered the firm has to provide their PAN number, Address proof and Identity Proofs of Partners. Whoever is the authorized signatory, they have to sign the application either using a digital signature certificate or via E- Aadhar Card verification.

Document Requirement to Open a Current Bank Account -Partnership Deed; PAN Card of the firm under Partnership; Address Proof of the partnership firm; ID Proof of all the Partners; Partnership Registration Certificate; Any Registration Document issued by the Centre or the State; Copy of Utility bills which are not past 3 months old; Authorization letter on the letterhead of firm.

 

 

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