Partnership Firm
What Is
“A partnership firm is not a separate legal entity distinct from its members. It is merely a collective name given to the individuals composing it. Hence, unlike a company which has a separate legal entity distinct from its members, a firm cannot possess property or employ servants, neither it can be a debtor or a creditor. It cannot sue or be sued by others.”
Register a partnership firm through RDA and get a support for partnership deed drafting.
Basic info
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Persons who have entered into a partnership with one another to carry on a business are individually called “Partners“; collectively called a “Partnership Firm”; and the name under which their business is carried on is called the “Firm Name”
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A partnership firm is not a separate legal entity distinct from its members. It is merely a collective name given to the individuals composing it. Hence, unlike a company that has a separate legal entity distinct from its members, a firm cannot possess property or employ servants, neither it can be a debtor or a creditor. It cannot sue or be sued by others.
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It is only for the sake of convenience that in commercial usage terms like “firm’s property”, “employee of the firm”, “suit against the firm” and so on are used, but in the law, it simply means “property of the partners”, “employees of the partners” and “a suit against the partners of that firm”.
Documents required for Partnership Firm
- PAN Card, Photograph, and aadhar card of all partners
- Bank information- a copy of the cancelled cheque or bank statement
- Address proof of Principal place of business and additional place of business :
- Own office – Copy of electricity bill/landline bill/ water bill/ municipal khata copy/ property tax receipt
- If Rented office – Rent agreement needed and No objection certificate from the owner
- In case of LLP- Copy of board resolution, Registration Certificate of the LLP
- Proof of appointment of authorized signatory- letter of authorization
Starting from INR,3,000/-
( inclusive of all taxes )*
