Partnership deed
Starting a two-partner firm: capital, profit shares, accounts and exits.
Opens Dastavo with this paper ready to fill, on this computer or in the app. No account needed.
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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.
PARTNERSHIP DEED
This partnership 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 "FIRST PARTNER", which expression shall, unless repugnant to the context, include his heirs, legal representatives and assigns) of the FIRST PART.
AND
Rohan Kumar son of Shri Om Prakash, aged about 37 years, resident of House No. 12, Street No. 3, Nanak Nagar, Amarnagar, Tehsil and District Amarnagar, Punjab (hereinafter called the "SECOND PARTNER", which expression shall, unless repugnant to the context, include his heirs, legal representatives and assigns) of the SECOND PART.
NOW THIS DEED WITNESSETH AND THE PARTIES HEREBY AGREE AS UNDER:
1.That the parties have agreed to carry on the business of wholesale hardware in partnership under the name M/s Sharma Traders, at Shop No. 3, Main Bazaar, Amarnagar, from 01-11-2026.
2.That the partnership is at will.
3.That the first partner shall bring ₹5,00,000 (Rupees Five Lakh only) and the second partner ₹5,00,000 (Rupees Five Lakh only) as capital. Any further capital shall be brought as mutually agreed.
The rest of the paper is in Dastavo.
What to bring
Papers to bring
- For each partner: PAN, Aadhaar or another identity proof, address proof and a passport-size photograph
- Proof of the place of business: the ownership papers, or the rent agreement and the owner's consent (see "Owner's no-objection and consent for business use of premises")
- The firm's name and business, the capital each partner brings and the profit shares agreed
- Two witnesses, each with an identity proof
Where to go
Signed by all the partners before two witnesses, usually on e-Stamp paper of the value the state fixes for a partnership deed; many have it attested by a Notary. It is not usually registered with the Sub-Registrar (ask a lawyer if a partner brings land or a building into the firm).
Fee
The e-Stamp duty follows the state's schedule for partnership deeds (a fixed amount, or one by the capital); ask the e-Stamp centre for today's amount. Registering the firm with the Registrar of Firms has its own fee.
Good to know
- Register the firm with the Registrar of Firms: an unregistered firm cannot sue others, nor a partner sue the firm, to enforce a contract (s.69 Indian Partnership Act).
- After signing, apply for the firm's PAN, then open its bank account and take GST and other registrations in the firm's name.
- A partnership at will can be ended by any partner by written notice (s.43). For later changes use "Admission of a new partner" or "Retirement from or dissolution of a partnership".
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.