Partnership Firm Registration in Gujarat

We can help you form and register partnership firm. We will draft a proper agreement called partnership deed for you considering all the terms and conditions that you want to add in. We will also get it registered if you wish to register your firm or else if you wish to form an unregistered firm, we will do the same for you. for more info, fee free to ask us.

Brief about Partnership Firm Registration in Gujarat

Partnership firm is a format of business where two or more persons unite to carry out a particular business on the basis of certain ratio of in which the profit and loss of the firm shall be distributed amongst the partners. Partnership firm is the most common form of business in India. There are certain benefits as well as disadvantages of this form of business such as it brings unlimited liability of each partner as a disadvantages at the same time a firm can get the benefit of vast network by having more partners in firm as an advantage. Thus, we can say that while doing a business in a partnership firm registration in Gujarat, one must ensure the trust worthiness of each partner and must carry out business in a transparent manner

What do we mean by Partnership Firm

A firm established between two or more partners with the goal of earning profit is called as a Partnership Firm. These partners works together for common goal of firm and shares the profit and loss of the firm in predetermined ratio motioned in partnership deed.

What do we mean by Partnership deed?

Partnership deed is the legal document which is created to form a partnership firm. The said deed consist of the terms and conditions on which the firm is established. Such terms and conditions are relating to sharing of profit and loss, working hours, area of work, capital contribution, appointment of new partner, retirement of new partner, solution of disputes and as many conditions as partners wishes to add. All partners are bound to follow this deed.

What are the basic information that a formal partnership deed should contain?

The partnership deed should contain the following details.

  1. The name and business address of partnership firm.
  2. The names and address of each partner.
  3. The profit sharing ratio of each partner
  4. Main business activity of partnership firm
  5. Date of starting of business
  6. Capital contributed by each partner
  7. Duties and responsibilities of each partner
  8. Terms and conditions of partnership firm

How to register partnership firm?

An application form along with fees is to be submitted to Registrar of Firms of the State in which firm is situated. The application has to be signed by all partners or their agents. The partnership deed must be notarized by local authority.

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Get answers to all your queries

It is not compulsory to register a partnership firm but there are added advantages if a partnership firm is registered. It is advisable that a partnership firm should register itself.

Indian Partnership Act 1932 is the governing law which regulates the partnership firms registration in Gujarat.

If the partners of a firm wants to end the partnership, they can do so by dissolving the partnership by notice, if it is a partnership of will. A partnership can be dissolved as per the terms laid down in the Partnership Deed, or they can do so creating a separate agreement.