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Partnership

Consist of a team of two or more? Partnership might be the way to go
Register Partnership Firm at
INR 8999 /- only.

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    Alright, let's dive into partnerships in India in a simple, straightforward manner:

    Key points to remember

    1. Partnership Basics: A partnership is sort of a crew-up among two or more human beings to run a
    enterprise together. Each partner brings something to the desk – whether it is cash, capabilities,
    or both.

    2. Shared Responsibilities: In a partnership, anyone shares the workload and selection-making. It’s
    all about teamwork!

    3.Types of Partners: There are exclusive varieties of partners: fashionable companions who manage the
    commercial enterprise and have limitless liability, and restricted companions who make investments
    money however don’t get worried in every day operations.

    4.Liability Matters: Partnerships come with limitless liability, which means that every companion is
    personally responsible for the debts and obligations of the enterprise. So, it’s vital to choose
    your companions accurately!

    5. Registration: While partnerships do not require formal registration, it’s a very good idea to have a written settlement outlining anybody’s roles, duties, and earnings-sharing preparations.

    6. Tax Benefits: Partnerships experience tax advantages, as they’re taxed as individuals as opposed to as a separate entity. This can prevent a few dollars come tax time.

    7. Dispute Resolution: It’s essential to have mechanisms in vicinity for resolving conflicts or disputes among companions. Open communication and a clear understanding of each different’s expectations are key.

    With these key factors in mind, you can be prepared to embark for your business adventure with self assurance!

    Partnership firm registration fee

    2 Partners

    Inclusive of Stampduty

    ₹ 8999 /- (All Inclusive)
    • Drafting of deed
    • Execution of Deed
    Checkout

    Compliance required for Partnership Firm

    All you should know about partnership firm Compliance

    Goods and Services Tax (GST)

    If the partnership is engaged in the supply of goods or services, it must comply with the GST regime. This includes registration under GST, timely filing of GST returns, and payment of GST dues.there is no requirement of submission of physical documents to GST Department. GST registration must be obtained within 30 days of business incorporation, otherwise, the business will be subject to heavy penalties.

    Income Tax

    The partnership firm is required to file an income tax return (Form ITR-5) with the Income Tax Department. The income tax return should include details of the partnership's income, expenses, and profits.

    TDS (Tax Deducted at Source)

    If the partnership makes certain payments, such as salary, interest, rent, etc., exceeding specified thresholds, it is required to deduct TDS from such payments and remit it to the tax authorities within the prescribed timelines.

    Accounting and Financial Reporting

    The partnership must maintain proper books of accounts, including records of financial transactions, assets, liabilities, and other relevant financial information. The financial statements should comply with applicable accounting standards and be prepared in accordance with the Companies (Accounting Standards) Rules or Indian Accounting Standards (Ind AS) if applicable

    Tax Benefits

    Partnerships enjoy certain tax advantages. Unlike corporations, partnerships are not subject to double taxation. Profits and losses pass through to the partners, and they are taxed at the individual level. Partners can also avail themselves of certain deductions and exemptions available to them under the tax laws.

    FAQs On Partnership

    Get answers to all your queries

    In Kerala Stamp value to be paid for registering a partnership firm is RS 5000 . However this changes from state to state. Moreover if the firm is to be a registered partnership , SRO might charge an additional registration fee based on capital

    Partnership Firm in India are established and governed under the provisions of Indian Partnership Act 1932 (referred as “ACT”). Partnership Firm in India may be registered or may be non-registered. It is not compulsory to register under the Indian Partnership ACT 1932. The benefits for registering Partnership Firm as prescribed under section 69 of the Indian Partnership Act, 1932. The Registered firms are more reliable as compared to non-registered firms.

    Partnership Deed is the back bone or bible of a FIRM .In simple words it lays down all the do and donts , roles and responsibilities of operations of the firm

    Draft a Partnership Deed Execute the deed at the right stamp value Register the partnership with SRO if required Want to know more in detail . Book your call with clearbiz expert team today

    It is not mandatory to always register the partnership deed., However a registered partnership had many legal advantages over an unregistered Firm . To know more contact Clear biz today

    Yes .any Individual: Any person who is of sound mind, not a minor, not an undercharged insolvent, and not disqualified from entering into a contract by law can become a partner in a partnership firm. Firm: A registered partnership firm can become a partner in another partnership firm or any other business organization.

    Yes Partnership firms are required to file Income Tax Returns. But be rest assure CLearbiz team will make the entire process a cake walk for you

    Engaging a professional service for partnership firm registration offers several benefits, including: Expert guidance and assistance throughout the registration process. Ensuring compliance with all legal requirements and regulations. Streamlining the registration process for faster turnaround times. Access to professional advice and support for ongoing legal and compliance matters. Minimizing the risk of errors or discrepancies that could lead to delays or complications in the registration process.

    Clearbiz Partnership Registartion In Kerala : Simplified Partnership Firm Registration

    Have a partner to share your business vision and goals? Partnership Firm might be the best form of business for you.
    Kick start your entrepreneurial jounery as a Partnership Firm.
    From drafting the partnership deed laying down all details required for your partnership to executing the deed we’re here to simplify the process for you.

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    Partnership Firm Registration Procedure :

    Steps
    1.Partnership Deed Drafting
    Team Clearbiz will help you draft a
    partnership agreement that aligns not only aligns with your
    business goals but carefully lay downs the terms and
    responsibilities of partners.

    2.Execution of Partnership Deed
    Once the partnership deed is finalised , we help you execute it
    on right stanp value. Execution is an integral step in
    partnership registration because it ensure the partnership
    deed is legally enforceable.

    3.Partnership registration in Kerala:Further on if you want to
    get your partnership registered, , we are here to help . Once
    the partnership deed is executed , clear biz will help you get
    it met with the concerned SRO in Kerala and handhold you till
    the certificate of partnership registration is issued.

    With entrusting the partnership registration process with CLearbiz experience the benefit of an all online registration process., saving time and money Yes we are an all digital team
    Clearbiz will ensure a timely and compliant registration process ensuring the entire registration process is simplified for you

    Cost of Partnership Registration in Kerala

    Here gain clarity on the cost incurred for partnership registration: – Government Charges: Understand the breakdown of stamp duty and registration prices required for partnership registration. In state of Kerala, the stamp duty for partnership registration is Rs 5000–Further on if the deed is to be registered with the concerned SRO charges may vary anywhere between 500 to 1000 depending on fixed capital of the firm. Also please note Stamp value and registration Fee for Partnership registration will vary from State to state. But no worries Team CLearbiz is here to help you wherever you are

    Our Service Fee: Benefit from our transparent pricing structures tailor-made for your unique needs. Avail a complimentary one to one session to discuss the details of your partnership agreement. Once we are clear on the terms of agreement the best of our legal minds would get to your work. We will inform our professional fee quotation based on the services you opt for ; no last minute surprises there.

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    Why Choose Us for Your Partnership Registration?

    Partner with us for: –

    Hassle-free Online Process: Navigate the partnership
    registration process effortlessly through our client -friendly
    on-line platform.

    Expert Assistance with Documentation:
    Let our experienced specialists and best in class legal team
    take care of the paperwork efficiently, Clearbiz will make sure
    all compliance are met and that too well within the timelimits

    Transparent Fees:
    Enjoy peace of mind with transparent fee systems, doing away
    with any hidden prices or surprises. We formally quote for
    our services and clearly no surprises there

    Timely Completion and Support:
    Count on us for timely of completion of your partnership
    registration process. Clearbiz is also happy to support your
    partnership business at every step of the way.

    Documents Required for Partnership Firm Registration

    1.Ensure Photograph of all the Partners
    2.PAN Card of all the Partners
    3.ID Proof of all the Partners (Driving License/Passport/Voter
    ID)
    4.Electricity Bill or any other utility bill for the address
    proof of the Registered Office of the partnership

    Clearbiz is here always to your partnership Firm at all steps
    We would not just register the partnership for you but also help you through the complex tax seasons and compliance necessities associated with partnership firms.
    Benefit from our complete suite of services, along with ongoing legal and accounting help, to make sure your partnership’s stays on the right side of the law always
    Empower your partnership journey with our understanding and determination. Let’s make your partnership dreams a reality.

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    Partnership Firm Taxation

    As per the provisions of Income Tax Act 1961 . Profits of a partnership firm are taxed at 30% (No slab rates) .However the salary and interest paid to partners is tax deductable . Apart from this profit share taken home by partners from the firm is tax free in their hands.
    On the indirect tax angle Partnerships having Turnover over and above the threshold limits (this limit is determined state wise ) attracts GST complince . But fear not Team Clearbiz will assist you for all taxation matters