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When starting a partnership firm in Yamuna Vihar, Delhi, gathering the right documents is critical for legal registration. A partnership firm, governed by the Indian Partnership Act, 1932, allows two or more individuals to come together to run a business and share its profits and losses. Even though registering a partnership is not compulsory, it is highly recommended to avail the firm of legal benefits such as the ability to file lawsuits or enforce claims.
At PayOur Tax, we offer end-to-end consultation services to ensure you have all the necessary documents for registering your partnership firm smoothly and in compliance with the law.
This guide covers all the essential documents required for partnership firm registration in Yamuna Vihar, Delhi and how PayOur Tax can assist you in the process.
Here is a comprehensive list of documents that are generally required when registering a partnership firm in Yamuna Vihar, Delhi:
The most important document for a partnership firm is the partnership deed, which outlines the terms and conditions agreed upon by all the partners. This document must be drafted carefully as it governs the firm’s operations and partner relationships. Key details that must be included in the partnership deed are:
The partnership deed must be signed by all partners and notarized to ensure legal enforceability.
Each partner must submit their PAN card as a mandatory document for identification. PAN (Permanent Account Number) is crucial for income tax filing and compliance, as it links the individual’s identity with their tax obligations.
For each partner, address proof must be submitted along with the PAN card. Common address proof documents include:
Providing the correct address proof is essential for legal verification during the registration process.
You must provide proof of the registered office address of the partnership firm. The registered office is the official address of the firm where all legal communications and notices will be sent. Acceptable documents for registered office proof include:
Ensure that the address provided is accurate and located in Yamuna Vihar, Delhi, as this will be reflected in all legal communications.
Apart from the primary documents listed above, some additional documents may be required depending on the business activities and the specifics of the firm:
You may need to submit passport-sized photographs of all partners involved in the partnership firm. This helps in identification and is part of the legal filing process with the Registrar of Firms.
Along with the PAN card and address proof, identity proof documents may also be required for each partner. Acceptable identity proof documents include:
Submitting identity proof ensures the Registrar has all relevant details of the partners in the firm.
If your partnership firm’s annual turnover exceeds ₹40 lakhs for goods or ₹20 lakhs for services, GST registration is mandatory. The following documents are required for GST registration:
Registering for GST is essential to comply with tax regulations, and it allows you to collect GST on sales and claim input tax credits.
To open a bank account in the name of the partnership firm, you will need to submit the following documents:
Having a bank account in the firm’s name is crucial for conducting business transactions and ensuring transparency in financial dealings.
In addition to the above documents, partnership firms must comply with certain legal formalities to ensure smooth operations and avoid future disputes. Here are a few key compliance-related documents:
Partnership firms must file income tax returns annually. It is important to maintain accurate financial records and comply with tax obligations. Hiring a professional tax consultant, such as PayOur Tax, can simplify the income tax filing process.
If your partnership firm is required to deduct tax at source (TDS) for payments such as salary, rent, or contractor fees, you will need to apply for a TAN (Tax Deduction and Collection Account Number).
If applicable, your partnership firm may need to register for Professional Tax in Delhi, depending on the state laws governing professional tax for employees.
At PayOur Tax, we offer expert assistance in gathering all the necessary documents and completing the partnership firm registration process in Yamuna Vihar, Delhi. Our team of experienced consultants will help you ensure that all required documents are in order and comply with legal requirements.
Setting up a partnership firm in Yamuna Vihar, Delhi, requires submitting various documents, including the partnership deed, PAN card, address proof of partners, and registered office proof. These documents ensure that the firm is legally recognized and can operate without any legal challenges.
With the expert services of PayOur Tax, you can navigate the partnership firm registration process with ease, ensuring that all necessary documents are filed correctly and on time. Let us handle the legal complexities while you focus on growing your business.
PayOur Tax, a renowned firm based in New Delhi, India, offers an extensive range of services in accounting, taxation, labor law compliance, corporate governance, and business management, catering to Indian and international businesses of all sizes, from startups to large enterprises. With deep expertise and years of experience, we specialize in delivering comprehensive, end-to-end business solutions that ensure seamless operational success and regulatory compliance.