Apartnership firm is a popular business structure in Kerala, and it is preferred by entrepreneurs who want to start a business with shared responsibilities. The Indian Partnership Act, 1932, govern it. While registration of a partnership firm is not mandatory, registering it provides legal protection and benefits.

Steps for Partnership Firm Registration in Kerala

1. Choose a Unique Name: Select a unique name for your partnership firm that does not infringe on any trademarks.
2. Draft a Partnership Deed: Prepare a partnership deed containing details such as the firm's name, partners' details, profit-sharing ratio, capital contribution, and business activities.
3. Stamp Duty Payment: The partnership deed must be printed on stamp paper according to the state’s stamp duty regulations.
4. Notarisation of the Partnership Deed: Although not mandatory, notarising the deed ensures authenticity.
5. Apply for PAN and TAN: The Income Tax Department requires a firm to obtain a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
6. Register with the Registrar of Firms: Submit the application form along with the partnership deed, ID proofs of partners, address proof of the firm, and the required registration fee to the Registrar of Firms in Kerala.
7. Obtain GST Registration: If your turnover exceeds the prescribed limit, GST registration is mandatory.
8. Open a Bank Account: A current account in the firm’s name is necessary for business transactions.

Benefits of Registering a Partnership Firm

• Legal recognition and protection under the Partnership Act
• Ability to file legal suits against third parties
• Increased trust and credibility among customers and vendors
• Easier access to loans and business opportunities

Conclusion

Partnership firm registration in Kerala is a straightforward process that provides various legal and financial benefits. If you are starting a business with partners, get your firm registered for smoother operations and better legal protection.