Did you know that most small, medium structure businesses in India are in the form of Partnership Firm or proprietorship? People want to start a business and they are not sure, which one is ideal, alternate to Company? yes, the firm is ideal and we have articulated How to Register a Partnership Firm in Karnataka?
Partnership Organizations in Karnataka
There are several types of business in India, one among them is Partnership Firm, which is less complied and unlimited liability on the partners, which is more ideal for the business, where the exposure of risk is very minimal. The firm registration can be started by like-minded friends as partners of the business, with the clear objective, capital investment, duties of the partners, rights and other obligations, profit sharing, etc.Non governmental organization with partnership deed
If you want to start a Firm in Karnataka, you first need to understand the Partnership Act, 1932 rules and regulations, our Team IN Filing legal helps to make it easy to explain and customize the partnership agreement or deed as in line with the law and mutual understanding among the partners, with below key points.- Unique name the firm
- Address of the firm
- The objective of the business of the firm
- The contract period for the partnership
- Name and other details of each partner
- Duties of each partner
- Roles and responsibilities of each partner
- Initial investment from each partner
- Profit/Loss sharing ratio
Additional information to be included:
- Salary and commission of each partner
- Procedure in case of death or retirement of a partner
- Power of attorney in case one wish to assign the role to another partner’s
Documents Required for Firm Registration.
- Original copy of the Partnership Deed in Rs.2000 e-stamp
- Partners PAN, ID Proof, Photo. with duly notarized
- Address proof of the Partnership Firm: Rent Agreement. Electric bill
- Affidavit certificate stating all details provided are true.
- A signed copy of Form 1 and partners consent form
Procedure to Register Firm in Karnataka.
Make a simple, memorable, unique, and relevant name for your business. As soon as you come up with a name or logo for your firm, register a trademark on it to maintain legal protection Get the partnership agreement/deed vetting with Team IN filing. as covered what details the partnership deed must contain, and how it must be drafted. The registration of partnership firms in Karnataka is not online, hence, all the given mentioned papers above shall submit to the Registrar of Firms. After filling the form, all the partners must sign it in the presence of a notary who will notarize the signatures. Finally, we will register your Firm at the nearest Registrar of Firms and submit the Application along with the required supporting documents. After careful verification by the Registrar, your partnership firm will be formally registered, and you will get the Registration certificate Within a week, you will receive your Certificate of Registration. Register Pvt Company in India. How to register a Firm with Team IN Filings? We provide a complete process, starting from documents, drafting deeds, you can just submit your details, we will connect with you, make sure to share the required documents and details. We will share the agreement’s first draft within 1 working day. You will receive the Firm registration certificate within 7 working days and the Firm pan card within 4 days!For more, reach us support@teamIndia.co.in or www.teamIndia.co.in No 188/1, 1 Flr, Sahakarnagar, Bangalore 560092
