A Partnership Firm is formed when two or more persons come together to carry on a business with a view to profit. Kyra Tax drafts the Partnership Deed and handles registration with the Registrar of Firms. Registered firms have the right to sue third parties and enforce contracts - major advantages over unregistered firms.
Key Benefits
Simple and low-cost business structure
Flexible profit-sharing and management
No mandatory audit requirements
Easy to form and dissolve
Suitable for small family businesses
Partnership Deed drafted by professionals
Documents Required
- PAN and Aadhaar of all partners
- Passport size photographs
- Address proof of all partners
- Business address proof
- Capital contribution details of each partner
- Profit-sharing ratio agreed by partners
Our Process
Frequently Asked Questions
Is registration mandatory?
No. Registration is optional under the Indian Partnership Act. However, an unregistered firm cannot file a suit to enforce a contract.
What is the minimum number of partners?
Minimum 2 partners. Maximum 50 partners for non-banking businesses.
Talk to Our Experts
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