Partnership Firm Registration in Bangalore

Get Partnership Firm Registration at Rs 6549/- (Inclusive of all cost)

TAKES 10 WORKING DAYS

Get Accounting Software License for Free!

*OFFER VALID FOR A LIMITED TIME PERIOD ONLY.

PARTNERSHIP FIRM REGISTRATION





    2,999 + GST + Govt. Fee
    Limited Time Period Only. No Hidden Charges

    Overview

    A General Partnership is a business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in the Partnership Deed. This form of business registration is best suited for those business looking to manage business within their limited reach and without much legal burdens.

    Read also: 7 TO KNOW FACTS ABOUT BANGALORE COMPANY REGISTRATION

    The Incorporation Process for Partnership Firm Registration Are As Follows:

    Incorporation Process Explained

    Incorpotation-process-explained

    It’s hard to digest all if it is at one stretch. So, an introduction about a business or start up formation options is vital for deciding the right form of company registration in India. . The Companies Act, 2013 and Limited Liability Partnership Act, 2008 have brought more business formation choices for entrepreneurs. The key factors that influence the legal form of a business are nature of your business, customer’s profile (corporate, small businesses or individuals ), expected business turnover, scalability  of your business idea and future funding prospectus.
    Every entrepreneur/promoter should take the pain to know about the pros and cons of these legal forms before going for partnership firm registration in Bangalore

    Formation Partnership Private Limited Company Limited Liability Partnership One Person Company (OPC) Sole Proprietorship
    Do I need a Registration? Yes. Register with Registration of Firms Yes, Ministry of Corporate Affairs registers Private limited company under the Companies Act, 2013 Ministry of Corporate Affairs registers an LLP business under the Limited Liability Partnership Act, 2008. Yes, Ministry of Corporate Affairs registers One Person Companies under the Companies Act, 2013 No legal requirement to do-so.
    What type of business names can I keep? Firm can use any name that he likes, but avoiding names already trademarked is advisable. Firstly, submit a set of names to Registrar of Companies, wait for approval from Registrar. Best practice is that the names submitted must be inoffensive, legal and not similar to any registered LLP’s or companies Firstly, submit a set of names to Registrar of Companies, wait for approval from Registrar. Best practice is that the names submitted must be inoffensive, legal and not similar to any registered LLP’s or companies. Firstly, submit a set of names to Registrar of Companies, wait for approval from Registrar. Best practice is that the names submitted must be inoffensive, legal and not similar to any registered LLP’s or companies Promoter can use any name that he likes, but avoiding names already trademarked is advisable.
    How risky is it for me? Partners will stand liable for the liabilities of the business. Private Limited Company is a separate legal person in the eyes of law, registered under Companies Act 2013. So, the shareholders are not responsible for business liabilities. “LLP” is a separate legal person in the eyes of law, registered under LLP Act 2008. So, the partners are not responsible for business’ liabilities. OPC is a separate legal person in the eyes of law. So, the share holder is not responsible for business liabilities. Promoter will stand liable for the liabilities of the business. Because the business is not considered as a separate legal person/entity.
    To what extent is each member of the business liable? Unlimited liability. Liability is limited to his/her share capital contribution. Liable to the extent of their contribution (in money, in kind or in services extended) to the LLP. Liability is limited to his/her share capital contribution. Unlimited liability.
    Tell me the minimum membership limit. 2 People 2 People 2 People 1 People 1 People
    Is foreign ownership allowed? No Yes Yes NA NA
    How much will I get taxed? Profits get taxed at 30% plus cess and surcharge is applicable if profit exceeds 1 Cr. Profits get taxed at 25% plus cess and surcharge is applicable if profit exceeds 1 Cr. Profits get taxed at 30% plus cess and surcharge is applicable if profit exceeds 1 Cr. Profits get taxed at 25% plus cess and surcharge is applicable if profit exceeds 1 Cr. Individual income tax slab of proprietor is the basis of taxation.
    What are my annual tax filing norms? Only Income Tax must be filed for the income of firm and partners. Every financial year Private Limited Company must file Annual Accounts and Annual Return with the Registrar of Companies. Plus, Income Tax must be filed separately. Every financial year Annual Statement of Accounts & Solvency and Annual Return with the Registrar.Plus, Income Tax must be filed separately. Every financial year OPC must file Annual Accounts and Annual Return with the Registrar of Companies. Plus, Income Tax must be filed separately. Only Income Tax must be filed on the basis on proprietor’s income.
    Is Annual Audit Required? Only income tax audit is applicable if the turnover exceeds limit of 2 Cr Statutory audit is to be conducted irrespective of business transaction and turnover. Income tax audit is applicable if turnover exceeds 2 Crs Statutory audit is to be conducted if partners contribution exceeds 25 lakhs or turnover exceeds 40 lakhs. Income tax audit is applicable if turnover exceeds 2 Crs Statutory audit is to be conducted irrespective of business transaction and turnover. Income tax audit is applicable if turnover exceeds 2 Crs Only income tax audit is applicable if the turnover exceeds limit of 2 Cr
    Can I convert my business into any other legal form?? Yes, Partnership can be converted into a Private Limited Company or LLP. Yes, Private Limited Company can be converted into a Public Company or LLP. Even, Public Limited Company can be converted into a Private Limited Company. Yes, Private Limited Company can be converted into a Public Company or LLP. Even, Public Limited Company can be converted into a Private Limited Company. OPC could be converted into any legal form. But, it depends on the number of promoters, business operations, funding requirements and other factors. Limited Liability Partnership or Private Company is preferred by promoters when seeking expansion of their OPC NO
    Compulsory Conversion to Private Limited Company Applicable? NO NO NO NO Yes. If turnover exceeds 2 cr

      Required fields are marked *
      Done fast, done right

      WHY LEGALSYNE TO REGISTER A COMPANY IN INDIA?


      Legalsyne was founded in 2014 and from then we lead the way of innovation in corporate laws, accounting, taxation, labour and legal services.
      If you want to start business in India, Legalsyne is your best bet. The team Legalsyne is led by seasoned players in Industry, with more than 20 years of experience in corporate laws, finance and taxation. The firm also has a strapping presence of young and energetic professionals and this blend of experience and vivacity is, we believe, the driving force behind the success of Legalsyne and its associates.
      START UP FRIENDLY
      Individual attention and single point of contact help us register 1000 plus businesses and its counting.
      SATISFIED CLIENTS
      We strive to achieve total client satisfaction by delivering quality services in professional and time bound manner.
      NEVER MISS DEADLINE APPROACH
      We are committed to meet deadline there by saving your money getting wasted by paying penalties.
      Our Offices

      Get in Touch

      Come and visit our quarters or simply send us an email anytime you want. We are open to all suggestions from our faithful clients.
      Bengaluru
      #179/2, GVR Ikon, 10th A Main Road, Double Road, Indiranagar 2nd Stage, Bengaluru-560038
      Cochin
      First Floor, Chitteth building, Chalikkavattom Road, Ponnurunni, Vyttila, Cochin,
      Kerala-682019
      Trivandrum
      Saparya, TC 9/2180/1 Madrasa Lane, Juma Masjid Road, Sasthamangalam, Trivandrum,
      Kerala – 695010
      Legalsyne Headquarters
      #179/2, GVR Ikon, 10th A Main Road, Double Road, Indiranagar 2nd Stage, Bengaluru-560038
      Our locationsWhere to find us?

      Get in touchLegalsyne Social links
      Legalsyne Headquarters
      #179/2, GVR Ikon, 10th A Main Road, Double Road, Indiranagar 2nd Stage, Bengaluru-560038
      Our locationsWhere to find us?

      Get in touch

      Copyright by Legalsyne . All rights reserved.

      Copyright by Legalsyne . All rights reserved.

      Call Now