When two or more individuals come together to start a business and share profits, they form a partnership firm. This structure is especially popular among family-run businesses, service providers, retailers, and professionals. At SKNV and Associates, we help you register your partnership firm legally and efficiently so that you can focus on growing your business while we handle the legalities.
Whether you’re entering into a new business partnership or formalizing an existing one, our Partnership Firm Registration Services in Hyderabad offer complete legal and compliance support.
A partnership firm is a type of business structure where two or more people manage and operate a business according to the terms and objectives set out in a Partnership Deed. The Indian Partnership Act, 1932 governs these firms, allowing them to function with a combination of flexibility and shared responsibility.
There are two types of partnerships:
Registered Partnership Firm
Unregistered Partnership Firm
While registration is not mandatory, a registered partnership firm enjoys several legal advantages, especially in case of disputes or claims.
A partnership firm is an ideal choice for:
Family-owned businesses
Retail shops and trading businesses
Legal, consultancy, or CA practices
Agencies and service providers
Early-stage businesses not looking for external funding
If your business is built on trust and shared responsibilities, the partnership model is simple, cost-effective, and flexible.
A partnership firm is easy to form, with fewer formalities compared to a company or LLP.
Each partner brings unique skills, networks, or investments, resulting in shared workload and decision-making.
Partnership firms face fewer statutory regulations and reporting requirements, which means lower compliance costs.
Taxed under the Income Tax Act as a partnership, the firm can claim business expenses, and partners receive exempt share of profits.
A registered partnership firm can file lawsuits in its name and enforce rights in a court of law.
Partnerships offer flexible operational models. You can customize profit-sharing ratios, capital contributions, duties, and exit clauses.
At SKNV and Associates, we manage the entire registration process, from deed drafting to compliance filings.
Our service includes:
We create a custom Partnership Deed that includes:
Name and address of firm and partners
Nature of business
Profit-sharing ratio
Duties and responsibilities of partners
Capital contribution
Rules for retirement, death, or expulsion of partners
Dispute resolution clauses
We apply for a PAN card in the firm’s name, which is essential for tax filings and bank account opening.
If your firm’s turnover exceeds ₹20 lakhs (or if you want to sell online), we help you get GST registered.
We register your partnership as an MSME to avail loans, tenders, and government benefits.
If you wish to formally register your partnership firm under the Indian Partnership Act, we file with the Registrar of Firms, Telangana. A registered firm:
Can sue and be sued
Can enforce contracts legally
Offers more credibility in government tenders and bank dealings
We provide guidance and documentation support to open a current account for your firm in any major bank.
PAN card
Aadhaar card / Voter ID / Passport
Passport-size photograph
Address proof (utility bill or bank statement)
Rental agreement for business address (if rented)
NOC from landlord
Utility bill (not older than 2 months)
Drafted and signed Partnership Deed
Affidavit and firm registration form (if registering with Registrar of Firms)
Most partnership firms can be set up in 5 to 7 working days, depending on document readiness and approvals.
PAN – 1 to 3 days
GST – 3 to 5 days
MSME – 1 day
Firm Registration – 5 to 7 working days (if opted)
Once registered, we also assist with:
First-year tax planning
GST filings and returns
Income tax filing for the firm and partners
TDS compliance (if applicable)
Partnership changes, amendments, or dissolution support
We aim to be your lifelong compliance partner, ensuring your business always stays on the right side of the law.
