What are the Documents Required For Partnership Registration?

One of the easiest businesses to establish is a partnership. A partnership is quite easy to form and does not have any complex formalities. The registration of a partnership is regulated by the Partnership Act which was launched by the government of India in the year 1932. The Partnership Act also helps in acquiring all the documents which need to be submitted at the time of registering a Partnership Firm to the registrar of firms.

It is not mandated by any of the authorities to register a partnership firm. It depends on the decision of the partners whether they want the partnership firm to be registered or not. There are no penalties for not registering a partnership firm but the partnership firm will be unable to avail some of the benefits from the government. Hence, it is advised to get the partnership firm registered.

In order to register a partnership, the applicant must fill the application form and should pay the fees of registration to the registrar of firms of the respective state in which the firm is established. The application must contain the signs of all the partners or their agents. Once all the documents have been approved by the registrar of the firms, the partnership firm will be registered by him in the Register of Firms and will issue the applicant a Certificate of Registration.

Documents required to register a partnership firm

The following listed elements are some of the documents that are required in order to register a partnership firm:

A Partnership Deed: A partnership can be either written or oral. However, a written deed is preferred in order to avoid any future conflicts between the partners. A partnership deed is drafted on a judicial stamp paper which is acquired from the State Registrar Office of the respective state. This deed should contain the signs of all the partners of the firm. This deed consists of all the rights that are awarded to a partner and all the duties that a partner needs to perform.

Documents of the Firm: Some documents of the firm are required for registering a firm. These are listed below:

• PAN Card of the Partnership firm: In order to obtain a PAN card of the firm, the partners will have to apply by filing the 49 A Form. This form can be filed online by visiting the official website of NSDL. It can be filed online if the application is signed by the authorised partner using a digital signature certificate. If not, then all the required documents along with the application need to be sent to the nearest Centre for PAN processing.
• Firm’s Address Proof: The address proof of a firm is also required in order to register a partnership firm. If the registered office of the firm is not owned by the firm but is rented, then the rent agreement and a utility bill (Water bill, property tax bill, electricity bill, gas receipt, etc) will have to be submitted. Other than this, an NOC should also be submitted which is obtained from the landlord.
• Additional Documents: In addition to a partnership deed, ID Proof and address proof of the firms and of the partners, some additional documents also need to be submitted at the time of registration of the firm. These include an affidavit which is used in order to certify the fact that all the details present in the deed and the submitted documents are true.
• GST Registration: In order to acquire a GST Registration, a partnership firm is required to submit the PAN Number, address proof and identity proofs of the partners of the partnership firm. Also, the authorised signatory will have to sign the application either by using an E-Aadhar Verification or by a digital signature certificate.
• Current Bank Account: In order to register a partnership firm, the firm also needs a current bank account. And, to open a current bank account, the partnership firm is required to submit the following documents:
  • A partnership deed
  • The PAN Card of the partnership firm
  • Partnership firm’s Address Proof
  • ID Proofs of all the partners
  • The registration certificate of the partnership
  • Any registration document that has been registered by the state or central government
  • Any bill receipt’s copy i.e. either an electricity bill or a telephone bill or a water bill
  • An authorization letter on the firm’s letterhead that authorises a person as an authorised signatory for the bank account.

All the information provided in the blog suggests that registering a partnership firm with the government is beneficial. All the documents that are required for the registration of a Partnership firm have been mentioned in the blog and can be acquired easily. Therefore, every partnership firm should be registered to enjoy special benefits.