Partnership Deed
On stamp paper — partners, profit ratio, capital, terms
Partnership Setup & Advisory
Partnership Firm
Quick Reference for Your Business
Deed · Registration · Compliance – everything you need to know about Partnership Firm.
01
Documents Required
PAN + Aadhaar
of all partners
Firm PAN
applied after the deed
Business address proof
Rent agreement / ownership + NOC
Passport-size photos
of partners and bank details
02
Key Facts & Timelines
| Point | Details |
|---|---|
| Law | Indian Partnership Act, 1932 |
| Minimum partners | 2 |
| Registration | With the Registrar of Firms — optional but strongly recommended |
| Firm PAN | Mandatory; firm files its own ITR (ITR-5) |
| Liability | Partners are jointly and personally liable for firm debts |
Note: Register the firm. An unregistered partnership cannot sue to enforce its rights in court — registration with the Registrar of Firms protects the partners. A clear, well-drafted deed prevents most partner disputes.
03
Key Compliances
Firm ITR
File ITR-5 every year; tax audit if turnover crosses the limit.
GST returns
If registered — periodic + annual returns.
TDS
Deduct and file where applicable.
Deed changes
Update the deed and Registrar on any change in partners or terms.
06
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