Partnership Firm
Start a partnership with a deed that protects every partner.
Partnership deed drafting, firm PAN, registration with the Registrar of Firms and GST — everything two or more partners need to start trading.
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Deed drafted by our team
2 partners
Minimum to start
50 partners
Maximum allowed
1 deed
Sets capital, profit share and exit terms
No ROC filings
Simple yearly compliance
Why partners
choose a firm
Simple to start
No MCA incorporation — a deed, PAN and bank account get you going.
Low compliance
No ROC filings — mainly an income tax return, plus GST returns if registered.
Flexible terms
Partners decide capital, profit sharing, salaries and roles in the deed.
Easy to upgrade
Convert to an LLP later when you want limited liability.
Who can start one
- 2 to 50 partners
- Adults who can enter a contract
- Any lawful business
- A written deed — recommended for every firm
Documents you'll need
- PAN, Aadhaar and photo of each partner
- Address proof of each partner
- Business address proof — utility bill, plus rent agreement and NOC if rented
- Agreed capital and profit-sharing ratio
Keep in mind
- Partners have unlimited liability for the firm's debts
- An unregistered firm can't sue others to enforce its contracts
- Raising investment is harder than in a company
How we set up your firm
You stay updated at every step in your own WhatsApp group.
Agree the terms
Capital, profit share, roles and exit — we guide the discussion.
Draft the deed
We draft it; all partners review and suggest changes.
Stamp & sign
Deed signed on stamp paper as per your state, and notarised.
Firm PAN
PAN applied in the firm's name using the deed.
Register & GST
Registrar of Firms registration, GST and current account.
Partnership firm or LLP?
Both are for partners. The big difference is liability.
| Partnership Firm | LLP | |
|---|---|---|
| Liability | Unlimited — personal assets at risk | Limited to agreed contribution |
| Registration | Registrar of Firms (optional in most states) | MCA incorporation (mandatory) |
| Yearly filings | Income tax return | Form 8, Form 11, income tax return |
| Partners | 2 to 50 | 2 or more, no upper limit |
| Best for | Small, trusted partnerships | Growing businesses wanting protection |
Frequently asked questions
Is registering a partnership firm compulsory?
In most states it's optional. But an unregistered firm can't file a case against others to enforce its contracts, so we recommend registering.
How many partners can a firm have?
At least 2 and at most 50.
Do partners have limited liability?
No. In a partnership firm, partners are personally liable for the firm's debts. For limited liability, consider an LLP.
What goes into a partnership deed?
Partner names, capital contributions, profit-sharing ratio, salaries or interest to partners, roles, and what happens when a partner joins or leaves.
Can a partnership firm become an LLP later?
Yes. A partnership firm can convert into an LLP and keep running its business. We handle the conversion.
Is GST mandatory for a partnership firm?
Only if turnover crosses the applicable GST threshold or the business falls into a compulsory registration category. See GST registration.