Partnership Deed Format

Partnership deed FORMAT

Partnership deed is a written legal document signed by two individuals coming together, who decide to run a business, regardless of the profits or losses that have incurred. A partnership deed documents help to ensures that both parties do not disagree, conflict over the partnership norms. It is also known as a partnership agreement, the partnership added is registered under the Partnership Act, 1932. The partners can make changes in the terms of the Partnership deed format if they wish to.

Frequently Asked Questions on Partnership Deed

What is called a partnership deed?

Partnership deed is a written legal document that contains an agreement made between two individuals who have the intention of doing business with each other and share profits and losses. It is also called a partnership agreement.

What documents are required for registration of a partnership firm?

Documents required for registration of a partnership firm are:

  1. Certified original copy of Partnership deed
  2. Partner’s documents ( PAN Card and Aadhar or Driving License)
  3. Address proof of the firm ( rent agreement and utility bills ( gas, landline or electricity)
  4. GST registration
  5. Specimen of an affidavit certifying all the details mentioned in the partnership deed and documents are correct.
  6. Application for registration of partnership i.e Form 1

How do you write a partnership deed?

Partnership deed is written or created with the following basic informations:

  1. Name and address of the firm as well as all the partners.
  2. Nature of business to be carried out by the firm.
  3. Date of commencement of business.
  4. Duration of partnership (whether for a fixed period/project)
  5. Capital contribution by each partner.
  6. Profit sharing ratio among the partners.

What are the 2 advantages of partnership deed?

The following are two advantages of the partnership deed

  1. It helps in regulating the liabilities, rights and duties of the partners.
  2. It helps in avoiding misunderstandings between the partners by mentioning all the terms and conditions beforehand.

What are 3 characteristics of a partnership?

The most important characteristics of a partnership are:

  1. Contractual relationship
  2. Two or more individuals
  3. Sharing of profit and loss

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Read This: Partnership Deed Format- Word and PDF

FORMAT OF DRAFT PARTNERSHIP DEED in India

This Deed of Partnership is executed on this the ………day of ………, 20……. by and amongst:-

  1. …………………….. S/o  ………………………..R/o ……………………………………..  (hereinafter referred to as party of the first part);

AND

  1. ………………………… S/o  ………………………………R/o …………………… (hereinafter referred to as party of the second part).

WHEREAS the parties above named intend to carry on the business in partnership in the name and style of ………………………………(name of the firm) vide this Deed of Partnership.

AND WHEREAS all the parties referred to above hereby desire that the terms and conditions be reduced in writing to do away any avoidable disputes and misunderstanding that may arise in future.

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