Partnership Firm Registration

• Description: Assistance with the registration of partnership firms with the Registrar of Firms, including drafting and notarizing the partnership deed, preparing documentation, and filing the registration application. Registration of a partnership firm is optional but recommended for legal recognition and enforcement of rights.
• Benefits: Offers a legally recognized status to the firm, provides credibility, and enables the firm to enforce its rights in court if required.

Key Services: – Drafting a comprehensive partnership deed outlining roles, responsibilities, and profit-sharing ratios – Preparing and filing the partnership registration application with the Registrar of Firms – Obtaining the Certificate of Registration and maintaining compliance with regulatory requirements

Partnership Deed Drafting and Notarization

• Description: Preparation of a legally compliant partnership deed, which outlines the business objectives, roles and responsibilities of each partner, capital contribution, profit-sharing ratios, dispute resolution mechanisms, and more. The deed can be notarized to provide it with additional legal validity.
• Benefits: Establishes a clear and binding agreement among partners, minimizing conflicts and ensuring transparency in the management and profit-sharing of the business.

Key Services: – Drafting the partnership deed based on the business needs and partner roles – Notarization of the partnership deed for additional legal validity – Assistance with any modifications or amendments to the partnership deed as needed

PAN and TAN Application for Partnership Firms

• Description: Assistance with applying for a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the partnership firm, which are required for tax filings and TDS compliance.
• Benefits: Ensures that the partnership firm is tax-compliant, allowing it to file income tax returns and adhere to TDS requirements.

Key Services: – Preparation and submission of PAN and TAN application forms – Coordination with tax authorities to obtain PAN and TAN numbers for the firm – Delivery of the PAN and TAN to the partners for tax and compliance purposes

4. Changes in Partnership Firm Structure

• Description: Assistance with making changes in the structure of the partnership firm, such as adding or removing partners, changing profit-sharing ratios, or modifying business activities. Changes are updated in the partnership deed and, if registered, with the Registrar of Firms.
• Benefits: Provides flexibility to adapt the partnership structure as business needs change while keeping records compliant with regulatory requirements.

Key Services: – Drafting amendments to the partnership deed reflecting structural changes – Filing necessary forms with the Registrar of Firms, if the firm is registered – Ensuring that changes are legally recognized and documented

5. Dissolution of Partnership Firm

• Description: Support with the legal process of dissolving a partnership firm, which includes drafting a dissolution deed, settling outstanding liabilities, and filing any required documentation with the Registrar of Firms and relevant authorities.
• Benefits: Provides an organized and legally compliant process for winding up the partnership, ensuring that all partner rights and obligations are properly closed.

Key Services: – Drafting the dissolution deed and finalizing the distribution of assets and liabilities – Settling any outstanding debts and notifying creditors of the dissolution – Filing for deregistration with the Registrar of Firms, if applicable

6. Income Tax and GST Compliance for Partnership Firms

• Description: Comprehensive support for income tax and GST compliance, including registration, periodic tax filings, and ensuring timely payment of dues. Tax compliance services also cover preparing and filing income tax returns for the partnership firm.
• Benefits: Helps the partnership firm stay compliant with income tax and GST regulations, avoiding penalties and enabling tax-efficient operations.

Key Services: – GST registration and monthly/quarterly GST return filing – Preparation and filing of annual income tax returns for the firm – Assistance with calculating and paying GST, TDS, and advance taxes

7. Accounting and Bookkeeping Services

• Description: Ongoing bookkeeping and accounting services to manage the financial records of the partnership firm. This includes maintaining ledgers, tracking expenses and income, managing payroll, and preparing financial statements.
• Benefits: Provides partners with a clear view of the financial status of the firm, supporting decision-making and simplifying tax filing processes.

Key Services: – Daily transaction recording and ledger management – Preparation of financial statements, including profit and loss statements and balance sheets – Periodic financial reports for informed decision-making

8. Annual Compliance and Regulatory Filings

• Description: Assistance with annual compliance requirements, including submitting financial statements, filing tax returns, and ensuring timely documentation with regulatory authorities if the partnership is registered.
• Benefits: Keeps the partnership firm compliant with government regulations, reducing the risk of penalties and maintaining a good standing.

Key Services: – Annual income tax filing and financial statement preparation – Filing compliance forms with the Registrar of Firms, if applicable – Advisory on new regulatory updates impacting partnership firms

9. Partnership Firm Conversion Services

• Description: Support with converting an existing partnership firm into a Limited Liability Partnership (LLP) or a private limited company. This involves following regulatory procedures, including filing conversion forms and obtaining approvals from relevant authorities.
• Benefits: Allows the firm to benefit from limited liability protection or corporate structure while retaining its business legacy and relationships.

Key Services: – Advisory on eligibility and requirements for conversion – Filing of conversion applications and required documentation – Assistance with compliance during and after the conversion process

10. Compliance Advisory and Ongoing Support

• Description: Ongoing advisory services to keep the partnership firm updated on changes in regulatory requirements, tax laws, and compliance obligations. This includes reminders for key filing deadlines and guidance on best practices.
• Benefits: Helps the firm stay compliant year-round, reducing the risk of penalties and ensuring smooth business operations.

Key Services: – Regular updates and reminders for tax and compliance deadlines – Advisory on regulatory changes impacting partnership firms – Support with event-based compliances, such as changes in address or firm activities