Partnership Deed Format
A partnership deed is a written legal document to avoid unnecessary misunderstanding, harassment and unpleasantness among the partners in the event of any dispute. For mutual benefit, the registration of Deed of Partnership is made under the Indian Registration Act, 1908 so as to avoid apprehension of the Deed of partnership being destroyed or mutilated in the possession of the partners. However, a partnership firm can also be created without registration under the Indian Registration Act, by just entering into a deep of Partnership. An instrument of partnership may be constituted by more than one document, meaning an amendment agreement can be added to a partnership deed at anytime to change the terms of a Partnership Firm.
Download Partnership Deed Format
You can also download the Partnership Deed Format in the following formats.
Why Create a Partnership Deed?
Partnership Agreements are be used by Partners wishing to form a partnership for doing business together. It is strongly recommended or encouraged for partnerships to have some kind of agreement among themselves, in case future disputes prove difficult to arbitrate. It is meant to promote mutual understanding and avoid mistrust. It indicates the terms on which the business corporation is founded.
Also, registration of a Partnership will make the firm eligible for obtaining PAN, applying for bank loan, opening bank account in Partnership Firm name, obtaining GST registration or IE Code or FSSAI license in partnership firm name and more.