Partnership Deed

We do not print a figure for either place, deliberately. Both Punjab and Chandigarh charge this instrument under their own partnership stamp article, and both official fee tables move without notice — an old rupee figure would be worse than none. Confirm the current amount with the Sub-Registrar, or against the department's own published table, before you buy the stamp paper.

No, it is optional — nothing compels you to file Form 1 with the Registrar of Firms. But the consequence of skipping it is serious enough that most firms do it anyway: section 69 of the Indian Partnership Act, 1932 stops an unregistered firm, and a partner of one, from suing anybody to enforce a right arising from a contract.

You may find you cannot sue to enforce it. Section 69 of the Indian Partnership Act, 1932 bars an unregistered firm, and its partners, from suing to enforce a contractual right — against an outside party, or against a co-partner or the firm itself — with only narrow exceptions such as a suit for dissolution or for accounts after dissolution. This is usually discovered only once litigation is already needed, which is the wrong time to find out.

This document does not answer that for you, but the core difference is liability: under a partnership deed, each partner remains personally liable for the firm's debts. An LLP keeps that liability limited to what each partner put in. If limiting personal exposure matters to the founders, that is the reason people choose an LLP Agreement over this document, not a difference in how the business itself is run day to day.

Yes. Where a partner contributes immovable property worth more than Rs 100 as capital, that changes this deed from one that need not be registered under the Registration Act, 1908 into one that must be — section 17(1)(b) reaches an instrument that transfers an interest in immovable property of that value. Have the contributed property valued realistically before the deed is signed, since an undervalued figure can be reopened later.

Chargeable as an instrument of partnership.

PUNJAB: Article 46, Schedule I-A to the Indian Stamp Act, 1899 as applicable in Punjab. Confirm the current figure — Article 46 commonly bands the duty by the capital contributed — with the Sub-Registrar or against the Department of Revenue, Rehabilitation and Disaster Management's published table at revenue.punjab.gov.in before the stamp is bought.

CHANDIGARH: the equivalent partnership article in the Chandigarh Administration's Rates of Stamp Duty & Registration Fees table at revenue.chd.gov.in; confirm the current figure at the Sub-Registrar's office, 30 Bays Building, before the stamp is bought.

BOTH: e-stamp before execution. A reconstitution of this firm later — a partner joining, retiring or the shares changing — is a fresh instrument of partnership and is separately chargeable under the same article.

TWO DIFFERENT REGISTRATIONS, NOT ONE. This Deed itself is registrable under the Registration Act, 1908 only if it operates to transfer, or to extinguish a Partner's separate rights in, immovable property worth more than one hundred rupees — under s.17(1)(b), for instance where a Partner brings immovable property into the firm as capital. Where capital is cash alone, this Deed is not compulsorily registrable under that Act.

Separately, and regardless of the above, the FIRM may be registered with the Registrar of Firms under ss.58-59 of the Indian Partnership Act, 1932 — in Punjab, the Registrar of Firms and Societies for the district in which the firm's principal place of business is situated; in Chandigarh, the Registrar of Firms, Union Territory of Chandigarh, which in practice sometimes sits combined with the Registrar of Societies — confirm the current arrangement when filing. Registration is not compulsory, but s.69 of that Act bars an unregistered firm, and a partner of one, from suing to enforce a right arising from a contract, and bars a partner from suing the firm or a co-partner to enforce a right arising from the partnership — with only narrow exceptions for dissolution, accounts after dissolution, and a claim not exceeding the value fixed for Small Cause Court suits. File Form 1 with this Deed, the prescribed fee and the Partners' identity proof once the Deed is executed.

₹1,499, GST included.

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Not statutorily required for a Deed of this kind, but two witnesses attesting execution are the near-universal drafting convention for a partnership deed on stamp paper, and this template asks for them.