What Are the Legal Formalities to Start a Partnership Firm in India?”
#PartnershipFirmIndia #BusinessSetup #StartupLaw #BusinessRegistration #LegalFormalitiesIndia #Entrepreneurship #LexisAndCompany
A budding entrepreneur asked:
"We’re two friends starting a business — do we need to register our partnership?" π€π‘
✅ Answer: Absolutely YES (unless you like chaos later π )!
π§Ύ Key Legal Steps to Set Up a Partnership Firm in India:
✅ Choose a Business Name – Be unique but legal π
✅ Draft a Partnership Deed – Clearly mention roles, capital, profit-sharing, exit clause etc.
✅ Stamp Duty & Notarisation – Because paper without stamp = no power ππ
✅ PAN Card for Firm – Taxman always wants in! π§Ύ
✅ Open a Bank Account – Firm account ≠ personal account
✅ Register with Registrar of Firms (optional but recommended) – Unregistered firm = limited legal rights π
#PartnershipDeed #StartupChecklist #LegalCompliance #BusinessStructure
π― Benefits of Registration:
✔️ Legal recognition
✔️ Easier to sue & get justice
✔️ Better banking and funding access
✔️ More credibility with clients & vendors
Pro Tip: “Starting a business without a deed is like cooking biryani without rice!” πππ
#BusinessFormation #LegalBasics #PartnershipLawIndia
πΌ Want a solid, legally sound partnership deed?
Let LEXIS AND COMPANY help you set it up smoothly and smartly! πΌπ️
π Call: +91-9051112233
π Website: https://www.lexcliq.com
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