A partnership deed is a written agreement between partners that sets out the firm’s name, business, capital, profit-sharing ratio, salaries, interest, duties and exit terms under the Indian Partnership Act, 1932. In Maharashtra, stamp duty is ₹500 where capital is up to ₹50,000, and 1% of capital (maximum ₹15,000) above that. It is needed for the firm’s PAN, bank account, GST and registration with the Registrar of Firms.
What should a partnership deed contain?
- Name and address of the firm and of every partner.
- Nature of business and date of commencement.
- Capital contributed by each partner and interest on capital (Section 40(b) of the Income Tax Act limits deductible interest to 12%).
- Profit and loss sharing ratio.
- Remuneration to working partners — written in the deed so it is tax-deductible within Section 40(b) limits.
- Banking and signing authority.
- Admission of new partners, retirement, death, and settlement of accounts.
- Arbitration or mediation clause for disputes.
Documents required for partnership deed
Each partner
- Aadhaar and PAN card
- Passport-size photograph
- Address proof
- Capital contribution amount
Business
- Proposed firm name (and alternatives)
- Nature of business
- Principal place of business: rent agreement or ownership proof with NOC
- Profit-sharing ratio and remuneration terms
How the partnership deed process works
- Business terms
We discuss capital, profit share, partner salaries, interest on capital, banking powers and roles.
- Draft the deed
Clauses for admission, retirement, death of a partner, non-compete, dispute resolution and dissolution.
- Stamp duty
Computed on capital under Article 47 and paid by e-stamp or e-challan.
- Execution
Partners sign with two witnesses; notarised as required by banks.
- Next steps
We proceed to PAN, firm registration with the Registrar of Firms and GST if needed.
Get your partnership deed done without the guesswork
Send your details on WhatsApp. We share the exact document list and stamp-duty estimate before you pay anything.
Partnership deed stamp duty in Maharashtra
| Capital of the firm | Stamp duty |
|---|---|
| Up to ₹50,000 | ₹500 |
| Above ₹50,000 | 1% of capital, subject to a maximum of ₹15,000 |
| Capital contributed as immovable property | Duty as on conveyance for that property |
A change in partners or capital later needs a supplementary / reconstitution deed, which is also stamped.
Do you need to register the firm?
Registration with the Registrar of Firms is optional, but under Section 69 of the Partnership Act an unregistered firm cannot sue third parties or its partners to enforce contractual rights. Banks and government tenders often require a registered firm. We handle it under partnership firm registration.
Partnership Deed in Pune, Pimpri-Chinchwad, Mumbai, Thane & Palghar
We handle partnership deed for clients across these cities. What differs locally:
| City | What to know locally |
|---|---|
| Pune | Handled online — no office visit needed. |
| Pimpri-Chinchwad | Handled online — no office visit needed. |
| Mumbai | Handled online — no office visit needed. |
| Thane | Handled online — no office visit needed. |
| Palghar | Handled online — no office visit needed. |
Frequently asked questions
What is the stamp duty on a partnership deed in Maharashtra?
₹500 if the capital is up to ₹50,000; 1% of the capital, capped at ₹15,000, if the capital exceeds ₹50,000.
Is it compulsory to register a partnership deed?
The deed itself is not compulsorily registered at the Sub-Registrar unless it involves immovable property. Registering the firm with the Registrar of Firms is optional but strongly advised, because unregistered firms cannot file suits to enforce contracts.
Can a partnership deed be made online?
Yes. We draft the deed online, arrange e-stamping and courier or deliver it for signatures. Partners can sign at different locations.
How many partners can a firm have?
A minimum of two. Under the Companies Act rules, a partnership firm can have up to 50 partners.
How do I add or remove a partner?
Execute a reconstitution (supplementary) deed signed by all continuing, incoming and outgoing partners, and update the Registrar of Firms, bank and GST records.
