What is a Partnership Firm?

2 or more persons carrying on business together with a view to profit. Governed by Indian Partnership Act 1932. Minimum 2, maximum 50 partners.

Registered vs Unregistered Partnership

  • Unregistered: Valid but partners cannot sue in firm's name
  • Registered: Full legal rights, required for formal business dealings

How to Register

  1. Draft Partnership Deed with all terms and profit ratio
  2. Get deed notarized and stamped (stamp duty varies by state)
  3. Apply to Registrar of Firms
  4. Submit deed with Form 1 and fees
  5. Certificate issued in 2-4 weeks

Partnership Deed Must Include

  • Names and addresses of all partners
  • Capital contribution and profit sharing ratio
  • Duties and powers of each partner
  • Admission, retirement and dissolution process

MyCamate registers partnership firms including deed drafting from Rs.2,999