Partnership Firm
VSB Consultants can help you register a partnership firm in 2-7 working days.
Contact You
Our relationship manager will contact you, understand your requirements and clear your queries.
Documentation
You will provide the relevant documents according to package and make payment.
Registration Process
We will process the firm registration in below steps.
Company Kit
We will send the relevant registration documents along with invoice through email and wish all the very best 😊
Step 3 Elaboration
Partnership deed will be prepared and emailed for signatures and notarization.
Scanned copy of notarized partnership deed will be received and PAN, TAN will be applied.
PAN will be received online and GST registration will be applied.
GST registration will be completed and Import Export Code will be applied.
Why Choose VSB Consultants ?
Partnership Firm Registration Cost
- Partnership Deed Drafting
- MSME Udyog Aadhaar Registration
- PAN Application
- TAN Application
- Partnership Deed Drafting
- MSME Udyog Aadhaar Registration
- PAN Application
- TAN Application
- GST Registration
- Partnership Deed Drafting
- MSME Udyog Aadhaar Registration
- PAN Application
- TAN Application
- GST Registration
- 3 months of GST Return Filing
FAQ's
Most Frequent Asked Questions
When two or more people decide to start a business together, they form a business entity by executing a partnership agreement and thereby constituting a partnership firm.
The persons executing the partnership agreement to start a business in partnership firm are known as partners.
- Unlimited liability of partners since the business does not have a separate legal personality, the partners are personally liable for debts and losses incurred. So if the business runs into trouble, partner’s personal assets may be at risk of being seized by creditors, which would generally not be the case if the business was a limited company.
- Perceived lack of prestige like a sole trader, the partnership business model often appears to lack the sense of prestige more associated with a limited company. Especially given their lack of independent existence aside from the partners themselves, partnerships can appear to be temporary enterprises, although many partnerships are in fact very long-lasting.
Partnership firm and partners are separate legal entities. To start the business, partnership firm needs to apply for PAN of the firm.
TDS deduction rules become applicable to partnership firm from day one of execution of partnership agreement and thus same needs to be applied at the time of execution of the partnership agreement.
Businesses providing services needs GST registration when there financial turnover in a financial year exceeds 20 Lacs and for other the limit is Rs. 40 lakhs (Rs 10 lakhs for NE and hill states).
Name of the firm is the identification of business in the world. In order to protect that name of the business, so that no one copies the name to take advantage of the reputation built by partners, it becomes necessary to get the name of the business trademarked and protected from being copied in future.
There are several advantages of going ahead with MSME registration:
- MSME Business can get a loan at a cheaper rate
- There are several tax benefits to the industries operating as MSME
- MSMEs are allowed for MAT or minimum alternate tax that can be carried for up to 15 years
- Government has also given special benefits to MSMEs by opening certain tenders only for industries operating under MSME
- It is easier for MSME to get credit
- After successful MSME registration, the cost of a patent or setting up industries gets reduced as there are many concessions for such industries.
- Businesses registered under MSME have a higher preference for a government license