A partnership lets two or more people run a business under a deed that sets capital, profit share and duties. An unregistered firm can operate, but a registered firm can sue on its contracts and is easier to open a current account against. We prepare a clear deed and file the registration with the Registrar of Firms in the state.
Who this is for
- Family businesses
- Professional firms that do not want an LLP yet
- Two founders sharing profit without company compliance
Documents usually needed
- PAN, Aadhaar and photographs of all partners
- Address proof of the firm and of the partners
- Draft business object and profit-sharing ratio
- Rent proof or ownership proof of the office
How Digital Filings handles it
- Agree the name, capital and ratio.
- Stamp the deed as the state requires.
- File with the Registrar of Firms and apply PAN of the firm if it is a new entity.
- Optional GST or MSME once the firm PAN exists.
Timeline
Deed drafting is a few days. Registrar of Firms timelines vary by state, often two to four weeks.
Questions people ask
Is a partnership the same as an LLP?
No. Partners in a traditional firm do not have limited liability. An LLP is a separate body registered at MCA.
Official reference: MCA — know-your-entity context. Always confirm the live rule on that portal.