My brother and I started a textile trading business. AP Advisors drafted our Deed in 2 days — it clearly covered what happens if one of us wants to exit. The bank approved our current account instantly when they saw the well-structured deed.
India's Simplest Multi-Partner Structure
Partnership Firm — Quick Setup, Shared Business
A Partnership Firm is the fastest, most affordable way for two or more people to start a business together. Our team drafts your Partnership Deed, handles PAN registration, and gets your firm operational — within days.
600+ Firms Registered
Lowest Setup Cost
Custom Deed Drafting
PARTNERSHIP DEED
The Indian Partnership Act, 1932
FIRM NAME
Your Business & Associates
P1
Partner 1
50% Share
P2
Partner 2
50% Share
Feature
Partnership
LLP
Setup Cost
Lowest
Moderate
Compliance
Minimal
Moderate
Liability
Unlimited
Limited
Legal Entity
No
Yes
Fastest Setup
Custom Deed
Up to 50 Partners
Lowest Cost
0+
Firms Registered
0+
Years Experience
3–7 Days
Setup Timeline
PAN India
Registration Services
WHAT IS A PARTNERSHIP FIRM?
Two or more people. One business. Fastest setup.
A Partnership Firm is a business structure where two or more individuals come together to run a business and share profits as per an agreed ratio — governed by the Indian Partnership Act, 1932.
It's the simplest, lowest-cost way to start a multi-partner business in India. No mandatory MCA registration, no statutory audit requirement, and minimal annual compliance — making it ideal for small traders, retailers, local service businesses, and family-run enterprises.
Fastest & Cheapest Setup
No mandatory MCA registration — a notarised Partnership Deed and PAN is all you need to start.
Fully Flexible Agreement
Profit sharing, roles, working capital contributions, and exit terms — all defined in your Deed.
2 to 50 Partners
Minimum 2 partners, maximum 50 — suitable for small family businesses to mid-size trading firms.
Minimal Compliance
No board meetings, no mandatory statutory audit, no annual ROC filings — just ITR-5 annually.
Easy to Modify
Adding a partner, changing profit share, or modifying business terms is just a Deed amendment away.
Easy Upgrade Path
When you outgrow the partnership structure, convert seamlessly to an LLP or Private Limited Company.
TYPES OF PARTNERSHIP
Which type of partnership suits your business?
We identify the right structure and draft your deed accordingly — so partners know exactly where they stand.
Most Common
GENERAL
General Partnership
All partners are active in the business, share profits equally (or as agreed), and are jointly and severally liable for all business debts.
- All partners manage the firm
- Profit & losses shared as per Deed
- Each partner can bind the firm
- Suitable for trading & services
- Simplest and cheapest to setup
LIMITED
Partnership with Sleeping Partner
One or more partners are "sleeping" (dormant) — they contribute capital but do not actively participate in management or operations.
- Active + dormant partner structure
- Capital investor can be silent partner
- Dormant partner shares profits only
- Liability still unlimited for all
- Deed clearly separates roles
REGISTERED
Registered Partnership Firm
Optionally registered with the Registrar of Firms in your state — gives the firm legal standing to sue third parties and enforce contracts in courts.
- Registered with Registrar of Firms
- Can sue third parties in court
- Required for Startup India eligibility
- Higher credibility with banks
- We recommend registration always
Thinking long-term?
If liability protection and corporate credibility matter, consider an LLP or Private Limited Company instead. Our advisors will help you pick the right structure before you commit.
DOCUMENTS REQUIRED
What you need to register your firm
Minimal documentation — we collect everything through our secure portal and handle all filings.
All Partners' Documents
- PAN Card (mandatory for all partners)
- Aadhaar Card or Passport
- Passport-size photograph
- Address proof (bank statement / utility bill)
- Email address & mobile number
- Capital contribution amount per partner
Partnership Deed Details
- Proposed firm name
- Nature of business / trade
- Profit & loss sharing ratio
- Partner roles and responsibilities
- Bank account operation instructions
- Retirement / dissolution clauses (we advise)
Principal Place of Business
- Electricity bill / property tax receipt
- Rent agreement (if rented premises)
- NOC from property owner
- Complete address with PIN code
- Can be a residential address initially
- Address must be in India
HOW IT WORKS
From consultation to operational firm in days
Five simple steps — your Partnership Deed drafted, notarised, and filed, plus PAN and GST setup handled end to end.
01
Free Consultation
We discuss your business, advise on partnership vs LLP, confirm partner details, and scope the deed clauses you need.
02
Deed Drafting
Our legal team drafts a customised Partnership Deed — covering profit sharing, roles, capital, banking authority, and exit clauses.
03
Notarisation & Stamp Duty
The Deed is printed on stamp paper (as per your state's stamp duty), signed by all partners, and notarised by a licensed notary.
04
PAN & Firm Registration
We apply for the firm's PAN with the Income Tax Department. Optionally, we register the firm with the Registrar of Firms in your state.
05
GST & Bank Account
We file for GST registration (if applicable), guide you to open a current account in the firm's name, and hand over your compliance calendar.
Typical timeline: 3–7 working days
Start My Partnership Firm
From deed drafting to PAN in hand — one of the fastest business setups in India.
WHAT'S INCLUDED
Everything in our partnership registration package
One transparent fee — Deed to PAN. No hidden stamp duty surprises.
ESSENTIAL
Deed + PAN
Custom Partnership Deed drafted, notarised, and firm PAN applied — everything to legally start operating.
- Custom Partnership Deed Drafting
- Stamp Duty & Notarisation Guidance
- Firm PAN Registration
- Partner identity & address verification
- Digital copy of executed Deed
- Registrar of Firms Registration
- GST Registration
Most Popular
COMPLETE
Deed + PAN + GST + Registration
Full setup — deed, PAN, Registrar of Firms, and GST — everything to start billing and banking.
- Everything in Essential
- Registrar of Firms Registration
- GST Registration (GSTIN)
- MSME / Udyam Registration
- Bank Account Guidance
- First-Year Compliance Calendar
- Trademark Registration
- ITR-5 Filing
PREMIUM
Full Launch Bundle
Complete setup with brand protection, tax filing, and the option to convert to LLP later.
- Everything in Complete
- Trademark Registration (1 class)
- First-Year ITR-5 Filing
- Dedicated Account Manager
- 1-Year Free Compliance Reminders
- Partnership-to-LLP Conversion Advice
- Deed Amendment Support (1 amendment)
- IEC (Import Export Code) — if needed
Stamp duty varies by state — it's itemised separately in your quote. No surprise add-ons. Request a detailed quote →
WHY AP ADVISORS
Your partnership, documented right.
A poorly drafted Partnership Deed causes partner disputes, banking rejections, and court battles. We draft deeds that prevent problems before they start.
Custom Deed — Not a Template
Every deed we draft is specific to your partners, business, and profit arrangement — not a generic fill-in-the-blanks form.
Dispute-Proof Clauses
We include clear exit, retirement, and dissolution clauses — so partners know the rules before any disagreement arises.
48-Hour Deed Delivery
First draft of your Partnership Deed delivered within 48 hours of document collection — fastest in the industry.
Zero Hidden Charges
Stamp duty, notarisation, and our fees are all quoted upfront — you pay exactly what you see.
Upgrade Path Advice
We advise when it's time to convert your partnership to LLP or Pvt Ltd — and handle that conversion too.
Post-Registration Support
Deed amendments, adding partners, GST filings, and ITR-5 — we handle everything after setup too.
0+Firms Registered
0+Years Experience
3–7 DaysSetup Time
PAN IndiaCoverage
Custom deed — not a boilerplate
Dispute-prevention clauses included
State-specific stamp duty guidance
Response within 4 business hours
Secure document portal (256-bit SSL)
CLIENT STORIES
Partners who started their business journey with us
Real firms we registered and continue to support.
Three doctors registering a joint clinic — AP Advisors understood our unequal capital contributions and drafted a deed that perfectly reflected each partner's role and share. We were registered and had our firm PAN in 5 days flat.
We started as a partnership and AP Advisors advised us to register with the Registrar of Firms from day one. That decision saved us when we needed to take a vendor to court two years later — unregistered firms can't sue. Best advice we got.
Still have questions?
Our team replies within 4 business hours.
FREQUENTLY ASKED
Partnership questions we answer every day
No, registration with the Registrar of Firms is not legally mandatory under the Indian Partnership Act. However, we strongly recommend it — an unregistered firm cannot sue third parties or enforce contracts in court. For any firm that intends to deal with banks, vendors, or government contracts, registration is essential. It costs very little and protects enormously.
A Partnership Deed is a legal document that defines the terms of the partnership — names and addresses of partners, firm name, business nature, capital contributions, profit/loss sharing ratio, partner roles, bank account operation, and procedures for retirement, death, or dissolution. Without a deed, the default rules of the Indian Partnership Act apply — which may not suit your arrangement.
A minor cannot be a full partner — but under Section 30 of the Indian Partnership Act, a minor can be admitted to the benefits of a partnership with the consent of all existing partners. The minor shares profits but is not personally liable for firm debts. Upon reaching majority, the minor must choose to become a full partner or leave within 6 months.
Partnership firms must file Income Tax Return (ITR-5) annually by July 31 (or October 31 if audit is required). A tax audit under Section 44AB is mandatory if turnover exceeds ₹1 crore (for businesses) or ₹50 lakh (for professionals). GST returns (if GST-registered) must be filed monthly/quarterly. There are no mandatory ROC or MCA filings for unregistered firms.
Yes. Under the LLP Act, 2008, a registered Partnership Firm can be converted to an LLP via Form 17 filing on the MCA portal. Existing partners become LLP partners, and the firm's assets and liabilities transfer. We advise the transition when liability protection or corporate credibility becomes important as the business scales.
Under the Companies Act, 2013, the maximum number of partners in a partnership firm is 50 for general partnerships and 10 for banking partnerships. The minimum is 2. If you need more than 50 members in a venture, a Private Limited Company or LLP is the appropriate structure — we can advise on the transition.
GET STARTED TODAY
Register your Partnership Firm — free consultation & deed scope first
Tell us about your business and partners. We'll scope the deed clauses you need and get your firm operational — no obligation.
Custom deed in 48 hoursFirst draft delivered fast — not a template
Response in 4 hoursMon–Sat, 10 AM to 6 PM
Free consultationNo payment until you're ready
Free Consultation
Partnership Firm Registration