Partnership Firm Registration in Telangana

Partnership Firm Registration in
Telangana
Partnership firms are the second most common type of business

entity in India after proprietorship. One of the biggest advantages of a
partnership firm is that more than one person can invest and run the
business. Further, when compared to a LLP, partnership firms are easier
to register, as there is no requirement for obtaining DSC or DIN or Name
Approval. Partnership registration falls under the purview of State
Governments while LLP registration falls under the purview of Central
Government under the Ministry of Corporate Affairs. (Partnership Firm vs
LLP).
In Telangana, registration of Partnership Firm can be completed

through the
In this article, we look at the procedure
for registration of partnership firm in detail.
Partnership Registration – Indian

Partnership Act, 1932
The law relating to a partnership firm is contained in the Indian

Partnership Act, 1932. Under Section 58 of the Act, a firm may be
registered at any time
by filing an application with the Registrar of Firms
(the District Registrar, Registration and Stamps Department in the State
of Telangana) of the area in which any place of business of the firm is
situated or proposed to be situated.
Before Registration
Before registration of a partnership firm, its recommended that you verify
that the proposed name is not similar or identity to an existing company
name or LLP name or trademark. Though a partnership firm could be
registered with a similar name, it could lead to legal hassles in the future.
Hence, its best to do a quick name availability check and trademark
search.
 Do a Company Name Availability Check

 Do a Trademark Search
Acceptable Name for Partnership Firm
After completing a name check against MCA and trademark database,

Partners are also requested to consider below mentioned rules while
selecting name for their firm.
 The names must not be excessively comparative or

indistinguishable, making it impossible to the name of another
current firm doing comparable business, this is important to avoid
confusion. The fundamental explanation for this rule is that the
goodwill or notoriety of the firm might be harmed, if another firm
could receive a partnered name.
 As per Section 58(3) of Indian Partnership Act, 1932, the name of
a firm should not contain words like Crown, Emperor, Empress,
Empire or words communicating or inferring the endorse,
endorsement or support of Government with the exception of when
the State Government connotes its assent in composing for the
use of such words as a component of the firm name.
Create a Partnership deed
Partnership deed is a document in which the respective rights and

obligations of the members of a partnership is written .A partnership
deed agreement should be in written because oral agreement does not
have any value for tax purposes.
Essential characteristics of a partnership deed are described below.
 Name and Address of the firm as well as all the partners

 Nature of business to be carried on
 Date of Commencement of business
 Duration of Partnership (whether for a fixed period/project)
 Capital contribution by each partner
 Profit sharing ratio among the partners
On the addition to the above requirements, the partners may point out
any extra clauses if they wish to include. Some of such additional
clauses are:
 Preparing accounts and arranging for audit

 Commissions, Salaries to partners
 Partner’s Loan, Partner’s capital interest
 Designating the partners with powers, obligation, and duties
 Follow-up of certain rules in death, retirement cases
Documents Required for Registering a
Partnership Firm
Fee for Registering a Partnership firm
Sl.No Document or act in respect No. of which the fee is payable Maximum Fee
1 For Firm registration For each Rs.100

Partner
2 Change of principle place or name of the firm Rs.100
3 Noting of closing and opening of branches Rs.100
4 Noting of changes in names and addresses of partners Rs.100
5 Recording of changes in and dissolution of a firm Rs.100
6 Rectification of mistakes Rs.100
7 Inspection of the Register of Firms For inspecting Rs. 20

the of each firm
in the Register
8 Inspection of the Register of Rs. 20 Firms For each Rs.20

inspection of all
documents
relating to one
single firm
9 Copies from the Register of Firms For each Rs. 4 or part thereof.
hundred words
or part thereof
Procedure to Register a Partnership Firm
Step 1: Fill the application or statement, following details should be

entered in the application.
 Firm name
 Place or principal place of business of the firm
 Names of any other places where the firm carries on business
 Date when each partner joined the firm
 Names in full and permanent addresses of the partners
 Duration of the firm
Page 1 / 2
Zoom 100%
Step 2: Application must be signed by all the partners or by their

agents especially authorised in this behalf.
Step 3: Along with application form and prescribed fee, the registration
of a firm may be done at any time by sending by post or delivering to the
Registrar of the area in which any place of business of the firm is
situated or proposed to be situated.
Step 4: If the registrar is satisfied with the points stated in the

partnership deed, he shall record an entry of the statement in a register
called the Register of Firms and issue a Certificate of Registration.
Note: The Register of Firms maintained at the office of the Registrar

contains complete and up-to-date information about each registered
firm. This Register of Firms is open to inspection by any person on
payment of the prescribed fees. Any person interested in viewing the
details of any firm can request the Registrar of Firms for the same and
on payment of the prescribed fees, a copy of all details of with Firm
registered with the Registrar would be given to the applicant
It is mandatory for all firms to apply for Registration with the Income Tax
Department and have a PAN Card. After obtaining a PAN Card, the
Partnership Firm would be required to open a Current Account in the
name of the Partnership Firm and operate all its operations through this
Bank Account

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Partnership Firm Registration in

Partnership firms are the second most common type of business

In Telangana, registration of Partnership Firm can be completed

Partnership Registration – Indian

The law relating to a partnership firm is contained in the Indian

 Do a Company Name Availability Check

Acceptable Name for Partnership Firm

After completing a name check against MCA and trademark database,

 The names must not be excessively comparative or

Partnership deed is a document in which the respective rights and

Essential characteristics of a partnership deed are described below.

 Name and Address of the firm as well as all the partners

 Preparing accounts and arranging for audit

Fee for Registering a Partnership firm

1 For Firm registration For each Rs.100

2 Change of principle place or name of the firm Rs.100

3 Noting of closing and opening of branches Rs.100

4 Noting of changes in names and addresses of partners Rs.100

5 Recording of changes in and dissolution of a firm Rs.100

6 Rectification of mistakes Rs.100

7 Inspection of the Register of Firms For inspecting Rs. 20

8 Inspection of the Register of Rs. 20 Firms For each Rs.20

Procedure to Register a Partnership Firm

Step 1: Fill the application or statement, following details should be

Step 2: Application must be signed by all the partners or by their

Step 4: If the registrar is satisfied with the points stated in the

Note: The Register of Firms maintained at the office of the Registrar

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