Partnership Deed in Punjab
Two-or-more-partner firm constitution under the Indian Partnership Act, 1932 — capital, profit share, roles, and dissolution.
Generate Partnership Deed for Punjab — Free First Doc⚖️ Partnership Deed stamp duty & registration in Punjab
- Stamp duty: 7% of consideration
- Registration fee: 1% of consideration
- Validity: Until dissolved by mutual consent, notice, or court order. Registration recommended under Sec 58 of the Partnership Act for legal enforceability.
- Regulator: Punjab Revenue Department
💡 Women buyers in Punjab get a 1% concession on stamp duty (effective 6% instead of 7%).
🎯 When you need a Partnership Deed in Punjab
- Starting a new partnership firm with 2–20 partners
- Converting a proprietorship into a partnership
- Bank account opening and PAN application for the firm
- GST registration as a partnership
- Admitting a new partner or recording a profit-share change
❓ Frequently asked questions
Is registration of a Partnership Deed mandatory in India?
Not mandatory, but strongly recommended. Section 69 of the Indian Partnership Act, 1932 bars an unregistered firm from suing third parties or partners. Registration is done with the Registrar of Firms in the state where the firm operates.
What stamp duty applies to a Partnership Deed?
Stamp duty varies by state — typically ₹500 to ₹2,000 in most states; Maharashtra charges 1% of capital subject to a cap. Always execute the deed on the correct stamp paper before signing.
How many partners can a Partnership firm have?
Maximum 50 partners under Rule 10 of the Companies (Miscellaneous) Rules, 2014. For banking business the limit is 10. Beyond these limits the firm must register as an LLP or company.
Can a Partnership Deed be amended later?
Yes — execute a Supplementary Deed signed by all partners, on stamp paper, and file it with the Registrar of Firms if the original deed was registered. Common amendments include profit share, capital contribution, or admission/retirement of partners.
Difference between a Partnership and an LLP?
A partnership is governed by the Indian Partnership Act, 1932 with unlimited partner liability. An LLP is governed by the LLP Act, 2008 with limited liability and separate legal personality. LLPs require MCA registration; partnerships do not.
🔗 Related documents for Punjab
Founders’ Agreement
Co-founder equity split, vesting, IP assignment, and exit terms — the contract every Indian startup signs before incorporation.
Sole Proprietorship Declaration
Bank-ready declaration to open a current account in the proprietorship’s name — covers Udyam, GST, and shop licence.
Employment Agreement
Full-time employee contract — salary, KPI, IP assignment, confidentiality, POSH, and termination, compliant with Indian labour law.
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