Process to Register a Partnership Deed in Maharashtra – An Overview

Partnership Firm is the most suitable type of business structure, and it is easy to form, and it required a minimum of two people to create a Partnership Firm online. One of the essential components of registering a partnership firm is notarizing and drafting a partnership deed. It's like an is an agreement between partners which defines the guideline, rules, and details related to the partnerships. So the partnership deed is the most crucial document required for partnership firm registration. In this blog, we are discussing the process of Partnership Deed Registration in Maharashtra.

Below are the features of partnership firm registration in India:

• It requires a minimum of two people.
• Its duties and responsibilities are shared among the partners of the firm.
• It requires minimal legal formalities.
• Fewer compliances.
• Flexibility in decision making.
• It is less expensive to establish.
• It is easy to set-up partnership firm registration is optional.
• In this firm, a minor cannot become a partner.

Following are some critical checklist that you should keep in mind while drafting a Partnership Deed in Maharashtra:

1. Name and address details of the partnership firm.
2. Date of execution of the partnership deed.
3. Name and address of the particular partners.
4. Name of the business.
5. Date of business beginning.
6. Period or duration of Partnership.
7. Partner’s capital contribution.
8. Profit-sharing ratio.
9. Accounting period.
10. Rate of interest on loan and capital.
11. Accounting method.
12. Policy regarding the auditor’s appointment.
13. Clause for bank account opening.
14. Partner’s salaries.
15. Mode of account settlement.
16. A clause on removing and adding partners.
17. A clause on winding up and regarding a credit facility.
18. All the powers, responsibilities, and duties of each partner.

Note:

• Once you collected all the information and drafted the final deed, then you have to take the printout of it on a stamp paper.
• The partnership deed must be signed by all the partners and two extra witnesses.
• Translate to the Marathi language at the time of partnership deed registration.
• The stamp paper for the firm registration should be in the name of the partners or firm, and also the stamp paper should be dated within or before the six months of the issue.

Following are some vital documents required at the time of Partnership Deed Registration in Maharashtra:

1. Submit an original copy of the Partnership Deed, which is certified by either an advocate or a Chartered Accountant (CA).
2. Submit Partnership Deed in Marathi translation which is certified by either an advocate or a CA.
3. Submit a blank stamp paper worth Rs. 10/- in the name of the firm.
4. Covering letter with a court fees stamp of Rs. 5/-.
5. DD worth Rs. 600/- in favour of the Registration Firm of your Area and make sure you add the partner's name and their contact details behind the Demand Draft (DD). If the payment is made online, then submit a copy of the Online Payment Receipt.
6. In case one of the partners of the company, then it is mandatory to submit the Memorandum of Association (MOA) and Article of Association (AOA) of the company.
7. If in case one of the partners is a Trust, then it is compulsory to submit a copy of the Trust Deed.
8. Submit any address proof or Ownership proof of the registered business place.
9. Submit an Authority Letter which is duly signed by all the partners in case a CA or an advocate is submitting the documents.
10. If the business requires extra licenses, then submit the copies of such trade licenses.

Earlier, the process of Partnership Firm Registration in Maharashtra was a manual process in which the partners had to go to the Registrar of Firms. But now the registration process of Partnership Firm has been shifted to an online portal to improve the accessibility and ease-of-use. After the online registration process, the partners have to approach the Registrar office physically to submit the documents. So, to complete the process of partnership firm registration in Maharashtra, you have to follow the steps given below:

Step 1:Go to the website of the Registrar of Firms (Maharashtra), i.e.

Step 2: Once you enter the website, you have to click on the “New Register” button. You can also check the image for the same.

Step 3: After that, you have to create a new user Id and profile for yourself and choose your status from between an individual and Advocate.

Step 4: Provide all the required details such as name, address details, contact, and password. Check the image below for the same

Step 5: Once you have entered all the details, then click on the Register button below. Then use your activation link to login and complete the registration process.

Step 6: Then again go to the home page and go to the ‘Management’ tab and click on Raise Form A.

Step 7: Then fill the registration form and make sure that your Marathi column is filled appropriately.

Step 8: After that, scan and upload all the copies of all your relevant documents and click on the 'Submit' button.

Step 9: After submitting all the documents, you have to pay the fees for the registration through Wallet option, Net Banking, Credit card, Debit card or IMPS.

Step 10: Take a hardcopy of the registration form A on any Green Ledge paper.

Step 11: Sign and notarise the registration form and upload it to the website along with the details of the public notary who authorized it.

Step 12: Submit the attested form along with the rest of the supporting documents to the Registrar office.

Step 13: Once you submit the supporting document along with the attested form, the executive will conduct a preliminary verification of your details.

Step 14: Once they satisfied with all the details and give the approval, then submit all the documents to an officer to complete the registration process.

Step 15: Once the registration process is completed, you will receive an acknowledgement slip, and you can use this slip to check the status of your request.

Partnership Deed is a type of an agreement which is signed by all the partners, and each partner must retain a signed original for his or her records. It is the essential documents required at the time of partnership firm registration, and it can be altered and modified at any time according to the requirements of the business.