Documents Required for Proprietorship Registration
Form No. 1 (Application for registration under Partnership Act)
Original copy of Partnership Deed, signed by all partners
Affidavit declaring intention to become partner
Rental or lease agreement of the property/campus on which the business is set
Minimum Requirements for Partnership Registration
You need to be citizen and resident of India having PAN card and valid address proof(voter id, passport, driving license and AADHAR).
Advantages of Partnership Registration
Easy to Start
A Partnership is easy to form as no cumbersome legal formalities are involved. Its registration is also not essential. However, if the firm is not registered, it will be deprived of certain legal benefits. The Registrar of Firms is responsible for registering partnership firms.
Since the name of a Partnership firm is not registered, a Partnership firm can choose to have any name - as long as it does not infringe on a registered trademark. However, since the name is not registered, any other person can also use the same business name unless trademark registration is obtained.
Annual Filing NOT Required
A Partnership firm is not required to file its annual accounts with the Registrar each year unlike a Limited Liability Partnership or Company. Limited Liability Partnership's and Companies are required to file their annual accounts with Registrar of Companies each year.