How to Register a Partnership Firm in Karnataka?
Procedures and documents for Partnership Registration are:
Name of the Partners along with age and father name
Address proof, Id proof and PP photos of Partner
Object of Partnership
Location of firm (Address Proof)
Interest, remuneration of Partners
Other clause if partners want to have in agreement
Stamp Papper (As applicable in different states)
Draft the Partnership Agreement
Get it signed by partners and vetted
Once the Agreement is signed the partnership comes into existance.
Further procedure to Register the Partnership Agreement
Visit the nearest Sub-Registrar and register the Agreement Deed.
Registrar will verify details of partners and check the stamp duty (Registered documents shall have stamp duties as notified by State Governments)
Once Registerar is satisfied with documents and validity of agreements, Registrar will register the Partnership Firm. For further details visit Partnership Firms Registration in Karnataka.
Care to be taken while Drafting the Agreement
While drafting the agreement buy a stamp paper of minimum amount that is required for VAT registration. For example in Karnataka minimum value of stamp paper should be 2000 to register for VAT (thats what officers at VAT department claim).
Total cost involved depends on the state in which you are registering as the stamp duties may vary.
However the possible cost is:
Stamp paper - upto 1000
Professional fees if getting it done from professional -
Registrar Charges - Lokepal is not passed so this is not fixed.
Agree on the cost part. Stamp duty may vary.
And also agree on Lokepal thing.
My understanding is that Registering the Partnership Deed is different from Registering the Partnership Firm. The first one is done in a sub-registrar's office and the second one with the Registrar of Firms. Is this correct.
In case of Registering a Partnershp Firm, is it possible to do it in the office of Registrar of Firms anywhere in Karnataka? For example, our property where we are going to do business is in Ramanagara District, whereas we want to setup our office in Bangalore. Therefore can we register the firm in Bangalore?