Chennai · Expert Advocates
Partnership Firm Registration in Chennai
Pool capital, skills and trust — start a registered partnership in 10–15 days under the Indian Partnership Act, 1932.
Why Velan Law
- Registered firm in 10–15 working days
- Advocate-drafted Partnership Deed
- Stamp duty, notary & ROF filing included
A Partnership Firm allows 2–20 partners to share capital, profits and liability based on a written Partnership Deed. Velan Law Associates drafts your deed, executes it on the correct stamp paper, registers the firm with the Registrar of Firms (Tamil Nadu) and obtains firm PAN, GST and bank account — so your partnership is legally enforceable from day one.
Key Benefits
- Shared capital and complementary skills
- Flexible profit-sharing and management
- Lower setup cost than Pvt Ltd / LLP
- Legal enforceability of partner rights (registered firm)
- Pass-through taxation at firm slab rates
Documents Required
- PAN & Aadhaar of all partners
- Passport-size photographs
- Address proof of all partners
- Business address proof — rent agreement + NOC
- Stamp paper for Partnership Deed (we arrange)
How We Work
Partnership Deed Drafting
We draft profit ratio, roles, capital, duties and dispute clauses.
Stamp Duty & Notarisation
Deed executed on Tamil Nadu stamp paper and notarised.
Registrar of Firms Application
Form 1 filed with the Registrar of Firms, Tamil Nadu.
PAN, TAN & GST
We obtain firm PAN, TAN and GSTIN where applicable.
Current Account Opening
Documents prepared for opening the firm's bank account.
Frequently Asked Questions
Is partnership firm registration mandatory?
Registration with the Registrar of Firms is optional but strongly recommended — an unregistered firm cannot sue third parties or partners to enforce contractual rights.
How is a Partnership Firm taxed?
Firms are taxed at a flat 30% (plus surcharge & cess). Partner remuneration and interest are deductible within Section 40(b) limits.
Partnership Firm vs LLP — which is better?
Partnership has lower cost and looser compliance. LLP offers limited liability and perpetual succession. For higher-value or long-term ventures, LLP is usually safer.
How many partners can a Partnership Firm have?
Minimum 2, maximum 20 (10 for banking businesses). For more partners, an LLP is required.
Can a partner be added or removed later?
Yes. We prepare a supplementary deed and file the amendment with the Registrar of Firms.
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