Partnership Firm Registration is a crucial step for businesses in Hyderabad, Telangana, seeking to establish a legal partnership structure. Registering your partnership firm ensures that your business is recognized by law, providing a framework for operations, ownership, and profit-sharing among partners.
Legal Recognition: A registered partnership firm is recognized by law, allowing it to enter into contracts, sue, and be sued in its own name.
Ease of Formation: Registering a partnership firm is simpler and involves fewer formalities compared to other business structures.
Shared Responsibility: Partners can share the responsibilities and liabilities, making business management more efficient.
Tax Benefits: Registered partnership firms can avail of various tax deductions and benefits under the Income Tax Act.
Flexibility: Partnership firms offer flexibility in management and decision-making processes, which can be tailored to the partners' preferences.
Access to Funding: Banks and financial institutions are more likely to provide loans to registered partnership firms due to their legal standing.
Unlimited Liability: Partners are personally liable for all business debts and obligations, risking their personal assets.
Limited Growth Opportunities: Unregistered firms may find it challenging to attract customers, investors, and partners.
Legal Issues: Operating without registration can lead to legal complications, penalties, and fines.
No Tax Benefits: Unregistered firms cannot avail of tax benefits and may face higher tax liabilities.
Dispute Resolution: In the absence of legal recognition, resolving disputes among partners can be complex and cumbersome.
To register a partnership firm in Hyderabad, Telangana, you will need the following documents:
PAN Card of all Partners
Identity Proof (Aadhar Card/Passport/Driving License) of all Partners
Address Proof (Bank Statement/Electricity Bill/Telephone Bill) of all Partners
Passport-sized Photographs of all Partners (2 photos of each partner)
Address Proof of the Registered Office (Utility Bill/Rent Agreement)
Partnership Deed signed by all Partners
Rental Agreement & NOC from the owner of the premises (if rented)
Sale Deed of the property (if own place)
Capital and share ratio of each partner
Contact numbers and email IDs linked with aadhar card
Managing partner and Cheque Signing Authority (both or any single partner)
Form-1
The partnership firm registration process typically takes approximately 1 week. This includes the time required for filing the application and processing the necessary documents. However, the final approval process from the relevant government department may vary depending on their workload and procedural requirements.
Price: ₹3,499 ₹7,000
Market Price - ₹7,000
Our price - ₹3,499 (50% discount for a limited time)
The average cost for partnership firm registration services in Hyderabad, Telangana, typically goes up to ₹7,000. However, our service offers a 50% reduction in cost, making it more affordable for you. By choosing our service, you will benefit from our expert assistance, streamlined processes, and cost-effective pricing.
Partnership firm registration is a one-time process with no requirement for renewal. Once your partnership firm is registered, it remains valid as long as you comply with the applicable laws and regulations.