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A Partnership Firm is a type of business where two or more people join hands to run and manage a business together, share profits, and make decisions jointly. It’s one of the oldest and most popular business types in India, especially for small to medium businesses, shops, traders, professionals, or family-run enterprises.
In a partnership, everything is based on trust and a written agreement between partners, called a Partnership Deed. This document mentions how profits and losses will be shared, how decisions will be made, what responsibilities each partner has, and what happens if someone wants to leave the business.
You can start a partnership firm with just two people and a simple agreement. Although registration is not compulsory, a registered firm gets legal benefits, like the ability to file cases in court, open a business bank account, and apply for loans, tenders, or GST.
At CallMyCA, we make the entire registration process easy and stress-free. You give us the basic documents, and we’ll prepare the deed, submit it to the Registrar of Firms, and give you a registered partnership certificate with PAN and GST (if needed).
Aadhar card, PAN card, mobile No., Email ID
Firm name, Capital contribution, Profit-sharing ratio of each partner, Nature of business
If rented: Rent agreement + NOC from the landlord, If owned: Property ownership documents
You can start the business in just a few days with minimum formalities.
No high registration charges or hidden costs—perfect for small businesses and startups.
Workload, decisions, and profits are divided among partners, reducing stress.
You can change partners, profit ratios, or business plans easily through mutual agreement.
Starting, running, or even closing a partnership firm is much simpler than a company.
With multiple partners, better ideas and faster decisions can help grow the business.
More partners mean more resources and better financial support for the business.
A registered firm can enter into contracts, sue others, and enjoy legal protection.
A registered firm can open a current account, apply for MSME schemes, GST, and business loans.
You need at least two people. The maximum is 20 (or 10 in banking). It’s great for small businesses where everyone wants to be involved.
Registration is not compulsory, but it is better. A registered firm can file legal cases, get business loans more easily, and earn more trust from clients.
A Partnership Deed is a legal document that explains who the partners are, how profits are shared, who does what, and what happens in disputes. It avoids confusion and protects everyone.
Usually, it takes about 7–10 working days if all documents are in place. We help you prepare everything so there’s no delay.
Yes. After registration, you can open a current account in the firm’s name with the PAN and registration proof.
Yes. A partner can leave anytime as per the rules written in the Partnership Deed. The deed can be updated if partners change.
No. A Partnership Firm is easier and cheaper. An LLP offers limited liability but has more rules. You can convert a firm to an LLP later.
Yes, if your turnover crosses Rs. 40 lakh (or Rs. 20 lakh for services), or if you sell across states or online, then GST registration is needed.
The Partnership Deed helps solve problems. If registered, you can go to court. Unregistered firms cannot sue others easily.
Any small or medium-sized business — like shops, trading, consulting, local services, or family businesses — can run as a partnership.
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