Admission of a new partner
Bringing a new partner into an existing firm.
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Not yet reviewed by a lawyer. Check every line before it is signed.
How the paper begins
With Dastavo's sample details; the people and places are fictional. The words in blue are the ones you fill in.
DEED OF ADMISSION OF PARTNER
This deed is made and executed at Amarnagar on 12 October 2026 by and between:
Kabir Sharma son of Shri Dev Sharma, aged about 44 years, resident of House No. 7, Basant Vihar, Amarnagar, Tehsil and District Amarnagar, Punjab (hereinafter called the "EXISTING PARTNER", which expression shall, unless repugnant to the context, include his heirs, legal representatives and assigns) of the FIRST PART.
AND
Simran Kaur daughter of Shri Gurdev Singh, aged about 19 years, resident of House No. 88, Model Town, Amarnagar, Tehsil and District Amarnagar, Punjab (hereinafter called the "NEW PARTNER", which expression shall, unless repugnant to the context, include her heirs, legal representatives and assigns) of the SECOND PART.
NOW THIS DEED WITNESSETH AND THE PARTIES HEREBY AGREE AS UNDER:
1.That M/s Sharma Traders is carrying on business under a partnership deed dated 01-04-2022, and the existing partners, including Rohan Kumar, have agreed to admit the new partner with effect from 01-11-2026.
2.That the new partner shall bring ₹3,00,000 (Rupees Three Lakh only) as capital, and from that date the profit and loss shall be shared as follows: Kabir Sharma 40%, Rohan Kumar 30% and Simran Kaur 30%.
The rest of the paper is in Dastavo.
What to bring
Papers to bring
- The partnership deed and any later changes, and the firm's registration certificate, PAN and GST registration
- For the new partner: PAN, Aadhaar or another identity proof, address proof and a passport-size photograph
- Proof of the new partner's capital: the bank transfer record or cheque details
- Every existing partner, to sign, with an identity proof
- Two witnesses, each with an identity proof
Where to go
Signed by all the existing partners and the new partner before two witnesses, usually on e-Stamp paper of the value the state fixes for a partnership deed; notarising it is optional. It is not usually registered with the Sub-Registrar.
Fee
The e-Stamp duty follows the state's schedule for partnership deeds (a change in the firm is often charged like a fresh deed); ask the e-Stamp centre. The Registrar of Firms charges its own fee for recording the change.
Good to know
- Tell the Registrar of Firms of the change (s.63 Indian Partnership Act), and update the bank account, GST registration and income-tax records.
- A new partner is not liable for the firm's acts before joining (s.31(2)), but is for its debts after; check the accounts first.
- A minor cannot be a full partner: with all the partners' consent a minor can only be admitted to the benefits of the firm (s.30).
Papers and fees can change. Check with the office before you go. Guidance only, not yet reviewed by a lawyer.
Stamp paper
Deeds and agreements carry stamp duty that depends on the state, the document and its value; some must be registered with the Sub-Registrar. Check the current duty and registration rules before printing on stamp paper.