What Documents Do You Need to Start a Partnership Firm?

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What Documents Do You Need to Start a Partnership Firm?

A partnership firm is a form of business entity in India where two or more parties come through the bond of cooperation in order to conduct a business together. Partnership firm registration is an easy process. The reason for this is because there is no need to fulfil any sort of stringent business requirement. Furthermore, this form of registration is not mandatory either. All the matters are up to the partners as to whether they want to register their firm not. If you do decide that you want to register your firm, then you should know the answer to the question- What documents do you need to start a partnership firm?

The partnership deed

When it comes to partnership deed, there is no reason for it to be anything but oral. However, in order to avoid any sort of future conflict, a partnership deed should be created on a stamp paper worth INR 2,000/-. Then, the partners of the firm would have to sign this deed. It entails the rights and duties of the partners and of the firm.

Partner Documents

These documents will entail the following:

1. The PAN Card of the partners of the firm: it is a requirement that every partner of the firm should submit a copy of their Permanent Account Number.
2. Address proof: every partner at the firm should submit the proof of address. These can be Voter ID, Aadhar Card, or any recent utility bill.

Firm Documents

1. PAN card: It is necessary for the partners to apply for a PAN card of the firm. The form that they have to apply is Form 49A. They can fill this form online from the NSDL website.
2. Address proof: The address proof the office that has gone through registration should also be provided. If the registered property is bought by the partners, then its sale deed should be brought forward. If the property is on rent, then they need to provide rent agreement and an NOC from the owner.

Affidavit

The partners need to submit an affidavit that servers as a declaration that all the documents that are provided for partnership firm registration are correct and in order.

GST Registration

GST registration is also a necessary requirement for a partnership firm. In order to get this registration, the partners will need the following documents:

1. Partnership deed
2. Pan card of the firm
3. Address proof the firm
4. The signature of an authorized signatory.

Bank account of the Firm

In order to get your hands on the bank account of the partnership firm, you will need the following documents:

1. The partnership deed
2. PAN card of the firm
3. Address proof of the firm
4. ID proof of the partners
5. A copy of the electricity bill

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