Need a legally sound Partnership Deed in Kurnool?
At Landmarq, we draft customized partnership agreements that protect all stakeholders while ensuring full compliance with Andhra Pradesh business laws.
✅ Clarity on Profit-Sharing & Responsibilities
✅ Stamp Duty Payment Guidance
✅ Dispute Prevention Framework
To get started, simply provide the following details:
1. Firm Details
- Name of the Firm
- Business Address
- Nature of Business (e.g., trading, consultancy, manufacturing)
- Date of Commencement
- Duration of Partnership (Fixed term or at will)
2. Partner Details (for each partner)
- Full Name
- Father’s/Husband’s Name
- Age
- Residential Address
- Phone Number & Email
- PAN Card Number
- Aadhaar Number (if needed for KYC)
- Capital Contribution Amount
- Profit & Loss Sharing Ratio
- Designation (Managing Partner / Sleeping Partner, etc.)
3. Business & Financial Terms
- Capital Contribution of Each Partner
- Profit and Loss Sharing Ratio
- Loan and Withdrawal Provisions
- Interest on Capital or Drawings (if any)
- Bank Account Operation Details (signing authority)
4. Legal & Administrative Clauses
- Duties and Responsibilities of Each Partner
- Admission of New Partners
- Retirement/Resignation of a Partner
- Expulsion Clauses
- Dispute Resolution Method (e.g., arbitration or court)
- Auditing and Accounting Procedures
- Rules Regarding Dissolution of Partnership
- Indemnity Clause
5. Execution Details
- Place of Execution
- Date of Execution
- Stamp Duty as per State Laws (based on capital contribution)
- Witness Details (Name, Address, Signature – usually 2 witnesses required)
For inquiries or submission, contact us at:
Landmarq – Conveyancing and Legal, a trusted legal and documentation service provider in Kurnool, is here to assist you with all your agreement needs.
📧 Email: [email protected] | 📞 Phone/WhatsApp: +91 70452 82751
1. What is a partnership deed?
A partnership deed is a legal document that outlines the terms and conditions of a partnership between two or more individuals.
2. Why is a partnership deed important?
It helps prevent disputes by clearly defining roles, profit-sharing, duties, and liabilities of partners.
3. What details are included in a partnership deed?
- Name and address of the firm and partners
- Nature of business
- Capital contribution
- Profit and loss sharing ratio
- Duties and responsibilities
- Duration of partnership
- Rules for admission, retirement, or expulsion of partners
4. Is registration of a partnership deed mandatory?
No, but registration is advisable for legal enforceability and to file suits against third parties or partners.
5. Can a partnership deed be modified?
Yes, with the mutual consent of all partners, a supplementary deed can be executed.
6. What are the documents required to register a partnership deed?
- Duly signed partnership deed
- PAN card of the firm
- Address proof of partners
- Photographs and identity proofs
- Proof of business address (rent agreement/utility bill)
7. Can a partnership firm be started without a deed?
Yes, but it’s not recommended as there will be no written proof of terms, increasing the risk of disputes.
8. What is the stamp duty for a partnership deed?
Stamp duty varies by state, usually based on capital contribution. It must be paid during execution.
9. Can a minor become a partner?
A minor cannot become a full partner but can be admitted to the benefits of partnership with guardian consent.
10. How is profit shared among partners?
As per the ratio agreed upon in the deed. If not specified, profits and losses are shared equally.