A General Partnership is a business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in the Partnership Deed. This structure is thought to have lost its relevance since the introduction of the Limited Liability Partnership (LLP) because its partners have unlimited liability, which means they are personally liable for the debts of the business. However, low costs, ease of setting up and minimal compliance requirement make it a sensible option for some, such as home businesses that are unlikely to take on any debt. Registration is optional for General Partnerships.


A Partnership Firm normally takes 5-10 days to set-up, only after submission of all the required correct documents

Procedure:

  1. Drafting of Partnership Deed
  2. Registration of Partnership Deed (optional)
  3. PAN & TAN Application

Documents Required:

  1. PAN CARD of all proposed partner
  2. ID proof: Any one (Voter ID / Aadhar Card / Driving License / Passport) of proposed director
  3. Address Proof: Any one (Electricity Bill / Telephone Bill / Mobile Bill / Bank Statement)
  4. Fess:- 7500+Government challan Fees