The process of partnership firm registration typically involves the following steps:
- Drafting the Partnership Deed: Partners must draft a partnership deed outlining the terms and conditions of the partnership, including profit-sharing ratios, capital contributions, roles, and responsibilities.
- Choosing a Unique Name: Partners must choose a unique name for the partnership firm that complies with the naming guidelines prescribed by the relevant authority.
- Registration with the Registrar of Firms: Partners must file the partnership deed and other required documents with the Registrar of Firms or relevant authority and pay the prescribed registration fee.
- Obtaining Registration Certificate: Upon verification of documents and payment of fees, the Registrar issues a registration certificate, officially recognizing the partnership firm.
