Partnership firm is very old form of business organisation where two or more person join together to run and manage business. Terms and conditions of partnership are mentioned in Partnership Deed; Partnership Deed may be registered and unregistered where registered partnership deed avails some benefits over unregistered partnership deed therefore it is always advisable to get partnership deed registered. Partnership firm in India is governed by Indian Partnership Act,1932.
We will collect all the information regarding your business and its partners. The information will be used by our lawyers to draft a partnership deed covering the various aspects of the business on stamp paper (charged as per actual). The soft copy will be ready in 2 working days.
Registration of partnership Deed
We will appoint an affiliate to take you through the process. All the partners would need to go to the registrar's office and bring along a passport-size photograph and identity proof and address proof. The whole process takes only a day. If you do not wish to register the partnership deed, you can skip this step and move on to the next step.
PAN & TAN Applications
Every business needs a registered Permanent Account Number (PAN) and Tax Account Number (TAN). We will make the application online ourselves, but you will need to courier hard copies of the required documents yourself. The PAN and TAN will be courier to the your registered office address in 21 working days.
|PRIVATE LIMITED COMPANY||LIMITED LIABILITY PARTNERSHIP||ONE PERSON COMPANY (OPC)||PARTNERSHIP FIRM|
|TAX RATE||Rate- 30% Surcharge- 7% / 12%* *(If income exceeds 1 cr- 7% If exceeds 10 cr- 12%) Cess- 3% of tax & surcharge AMT. Note- Above rate apply after allowing remuneration to director.||Rate- 30% Surcharge- 12% (If income exceeds 1 cr) Cess- 3% of tax & surcharge AMT Note- Above rate shall apply after allowing remuneration to partner.||Rate- 30% Surcharge- 7% / 12%* *(If income exceeds 1 cr- 7% If exceeds 10 cr- 12%) Cess- 3% of tax & surcharge AMT. Note- Above rate apply after allowing remuneration to director.||Rate- 30% Surcharge- 12% (If income exceeds 1 cr) Cess- 3% of tax & surcharge AMT Note- Above rate shall apply after allowing remuneration to partner.|
|Liability||Limited liability||Limited liability||Limited liability||Unlimited Liability|
|Minimum no. of person required||2||2||1||2|
|Maximum no. of person allowed||200||No limit||1||20|
|Can Body corporate can be member?||Yes||Yes||No||No|
|Statutory Compliance||Moderate||Less compliance in comparison to OPC and Private Limited Company||Less compliance in comparison to Private Limited Company||Very less compliance|