Partnership2019-04-06T00:38:27+05:30
Private Limited Company

General Partnership Registration
Starting at INR 4999 onwards

General Partnership

A General Partnership Firm is a business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in the Deed. It is gradually losing its relevance due to the introduction of the Limited Liability Partnership (LLP) in the scenario. Its partners have unlimited liability, which means they are personally liable for the debts of the business. However, low costs, ease of setting up and minimal compliance requirements make it a sensible option for some, such as home businesses that are unlikely to take on any debt. A General Partnership is cheaper to start than an LLP and even over the long-term, thanks to the minimum compliance requirements, is inexpensive. Apart from that, the appointment of an auditor is also not mandatory. This is why, despite its severe shortcoming (unlimited liability), many entrepreneurs opt for it.

Why Register a General Partnership Firm?

Easy to Start

A Private Limited is a separate legal entity as distinct from its members, and is separate at law from its shareholders,directors, promoters etc. A Pvt Ltd Company have the capacity to own properties, incur debts and exercise a number of legal rights.

Lesser Compliance

A Pvt Ltd Company exercise “Perpetual Succession”; which means that a company’s life is not determined by the longevity of its members, shareholders, promoters, directors, employees or anyone else. If a shareholder dies, or hypothetically, all the shareholders of Private Limited Company dies or resigns , only their shares in the company will be transferred to new people.

Borrowing Capacity

A Pvt Ltd Company enjoys can avail better scope for borrowing funds. Banking institutions and Venture Capital Firms prefer to render financial assistance to a Private Limited company rather than partnership firms, proprietary concerns or any other form of unregistered business. Even a newly formed Private Limited Company Can reap the benefits of easy borrowing.

Suing Capacity

A Private Limited Company can file legal proceedings or a suit in a court of law exactly like an individual person. A Pvt Ltd Company being an independent legal entity can sue and also be sued in its own name.

What are the Minimum Requirements for a General Partnership Registration?

PARTNERS

For a General Partnership Registration there should be at least two Partners and a minimum of one director should be an Indian.

REGISTERED OFFICE

The registered office of the Partnership Firm has to be in India. It need not to be an owned space as even a rented space can be used.

MINIMUM CAPITAL

There is no minimum Capital Requirement for a General Partnership Registration.

Documents Needed For Registration

llp photo

Passport Sized Photo
Passport sized Photos For All Directors

ID Proof

Identity proof
Aadhar Card/Driving License/Voter ID Card/Passport/Bank Statement

Address Proof

Address Proof
Latest Bank Statement/Utility Bill

Information

Director Information
KYC Details Of Directors

Document

Company Address Proof
Latest Bank Statement/Utility Bill

Certificate

No Objection Certificate
NOC From Owner (We Will Draft this Doc)

Certificate

Rental Agreement
Rental Agreement from director (We Will Draft this Doc)

Proof

Property Documents
If Property Owned by any Directors

Procedure

  • Reserve Company Name

    Step 1

  • Digital Signature Application

    Step 2

  • Drafting Final Documents

    Step 3

  • Filing For Incorporation

    Step 4

Estimate Your Cost

Deliverables

Certificate

Partnership Agreement

A Partnership Agreement is a legal document which serves as the proof of legal existence of the partnership and consists the purpose of business, nature of it, procedure and protocol, area o operations etc.

Business Registration Documents

Partnership PAN

A General Partnership Business  needs to obtain a PAN Card in the name of the business. The PAN number needs to be quoted while opening a bank account for the partnership and in every financial transaction of the business.

Business Registration Documents

Partnership TAN

Tax Deduction Account Number is a 10 -digit alpha-numeric number issued by the Income-tax Department. TAN is to be obtained by all persons who are responsible for deducting tax at source (TDS) or who are required to collect tax at source (TCS).

How long will it take?

Registration

Drafting Agreements

Two Days

Documentation

Filing for PAN & TAN Application

One Day

Ok

Final Submission

One Day

Private Limited Company vs. One Person Company vs. Limited Liability Partnership

Features

Price Starting At
  • Registration Law
  • Entity Status
  • Members/Owners Liability Clause
  • Directors
  • Foreign Ownership
  • Transfer-ability
  • Perpetual Succession
  • Annual Statutory Meetings

Private Limited Company

INR4999+GST
  • Companies Act, 2013
  • Separate legal entity
  • Limited Liability
  • Minimum 2 Directors
  • Allowed
  • Ownership can be transferred.
  • Yes
  • Periodic Board and General Meetings are mandatory.

One Person Company

INR4499+GST
  • Companies Act, 2013
  • Separate legal entity
  • Limited Liability
  • Minimum 1 Director
  • Not Allowed
  • Ownership can be transferred.
  • Yes
  • Not Required

Limited Liability Partnership

INR3999+GST
  • Limited Liability Partnership Act, 2008.
  • Separate legal entity
  • Limited Liability
  • Minimum 2 Partners
  • Allowed with prior approval of RBI
  • Ownership can be transferred.
  • Yes
  • Not Required

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Frequently asked Questions

A Pvt ltd can be started with a minimum capital of one lakh.

  • A Pvt Ltd can be started with a minimum of two members and can have up to two hundred members at maximum.
  • SPICe form is a new consolidated form introduced by MCA simplifying the incorporation and taking the process to fast track mode incorporating a company in less then 10 days if approved on time.
  • SPICe form is a new consolidated form introduced by MCA simplifying the incorporation and taking the process to fast track mode incorporating a company in less then 10 days if approved on time.
  • SPICe form is a new consolidated form introduced by MCA simplifying the incorporation and taking the process to fast track mode incorporating a company in less then 10 days if approved on time.
  • SPICe form is a new consolidated form introduced by MCA simplifying the incorporation and taking the process to fast track mode incorporating a company in less then 10 days if approved on time.
  • SPICe form is a new consolidated form introduced by MCA simplifying the incorporation and taking the process to fast track mode incorporating a company in less then 10 days if approved on time.
  • SPICe form is a new consolidated form introduced by MCA simplifying the incorporation and taking the process to fast track mode incorporating a company in less then 10 days if approved on time.
  • SPICe form is a new consolidated form introduced by MCA simplifying the incorporation and taking the process to fast track mode incorporating a company in less then 10 days if approved on time.
  • SPICe form is a new consolidated form introduced by MCA simplifying the incorporation and taking the process to fast track mode incorporating a company in less then 10 days if approved on time.

Following documents relating to Director:

  • Passport sized photo
  • PAN Card
  • ID proof- Anyone (Voter ID/Aadhar Card/Driving License/Passport)
  • Address Proof- Anyone(Electricity Bill/Telephone Bill/Mobile Bill/Bank Statement)

For are the documents regarding Registered Office Address

  • In case of Rented Building: Rent agreement along with latest rent receipt with NOC from owner
  • In case Leased Building: Lease deed with NOC from owner
  • In case Owned: House tax receipts
  • Electricity bill

A typical incorporation would take around 5-15 days depending on the requirements & circumstances of the case.

No you dont need to deposit your capital while registration.

No you dont need to deposit your capital while registration.

No you dont need to deposit your capital while registration.

No you dont need to deposit your capital while registration.

No you dont need to deposit your capital while registration.

No you dont need to deposit your capital while registration.

No you dont need to deposit your capital while registration.

No you dont need to deposit your capital while registration.

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