Chartered Accountant · ICAI M.No. 153926 · FRN 136869W
Start with the deed
The foundation of a partnership is the partnership deed — a written agreement on stamp paper setting out the partners, profit-sharing ratios, capital, roles, remuneration and exit terms. A clear deed prevents most partner disputes and is needed for the firm’s PAN and bank account even if you don’t formally register.
Register with the Registrar of Firms
Unlike a company, a partnership is registered (where you choose to) with the state Registrar of Firms, not the MCA. You submit the deed, an application (Form 1), an affidavit, and proof of the firm’s address and partners. The firm then obtains a PAN, and GST or other licences as needed. State procedures vary — confirm yours.
Registered or not — an example
Example: two partners sign a deed, get a PAN and open a bank account, and start trading — a valid partnership. Whether they also register with the Registrar of Firms affects their legal rights (see is registration mandatory). Many register precisely so they can sue to enforce contracts. Our team can draft the deed and register the firm.