Overview
Partnership is the relationship between persons who have agreed to share the profits of a business carried on by all of them, or by any of them acting for all.
The persons are individually called 'partners' and collectively a 'firm'. The name under which they carry on business is the firm name. A Partnership Deed is executed to create a partnership firm and needs at least two partners.
When you need it
- Starting a business with one or more partners
- Admitting or retiring a partner
- Changing profit shares or capital
Documents usually required
Open as checklist- ID proof, PAN and photographs of all partners
- Firm name and business address proof
- Capital contribution and profit-sharing ratio
This is an indicative list. Exact requirements depend on the property, the authority and your situation, and we confirm the full list after reviewing your papers.
How it works
- 1
Settle terms
Capital, profit share, duties and exit terms are agreed.
- 2
Draft
The deed is drafted.
- 3
Stamp and execute
The deed is stamped, then executed and notarised or registered as required.