India - Business

Partnership Deed

Legal agreement between partners defining terms and conditions of a partnership business.

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Partnership Firm Name *

Firm Address *

Partner 1 Name *

Partner 1 Aadhaar *

Partner 1 Address *

Partner 1 Capital (INR) *

Partner 1 Profit Share (%) *

Partner 2 Name *

Partner 2 Aadhaar *

Partner 2 Address *

Partner 2 Capital (INR) *

Partner 2 Profit Share (%) *

Nature of Business *

City *

Date *

Optional Sections

Include Witnesses Section Include Verification Section Include Schedule/Annexure

Page Size

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Instructions

How to create a Partnership Deed:

1. Clearly state the firm name and business nature.
2. Specify each partner's capital contribution.
3. Define profit and loss sharing ratio.
4. Include clauses for management, drawings, and decision-making.
5. Address death, retirement, and dispute resolution.
6. Get the deed notarized and registered with Registrar of Firms.
7. Apply for PAN and GST registration for the firm.

Frequently Asked Questions

Is partnership deed registration mandatory?

No, but registration with Registrar of Firms provides legal benefits and allows the firm to file suits against third parties.

Can profit sharing differ from capital contribution?

Yes, profit sharing can be agreed independently of capital contribution ratio.

What happens if a partner dies?

As per the deed, the deceased partner's share is valued and paid to legal heirs. The firm may continue with remaining partners.

Can we add more partners later?

Yes, through a supplementary deed. The new partner's admission requires consent of existing partners.