Indian Partnership Act, 1932
Governs the formation, rights, duties, and dissolution of partnership firms in India.
Structure your partnership.Prevent future disputes.
A legally binding partnership deed that defines capital contributions, profit-sharing, roles, decision-making, and exit terms — so disputes stay out of court.
Partnership DeedProfit SharingPartner ExitDissolution Clause
Rs 5,499
All-Inclusive
5 Days
Delivery
Firm-Ready
Stamp & Register
What we handle for you
A comprehensive partnership deed covering every aspect of the business relationship — from day-to-day operations to partner exits.
Capital & Profit Clauses
Draft clear clauses on capital contribution, profit-sharing, and loss-bearing ratios agreed by all partners.
Roles & Authority
Define each partner's role, authority, and limitations in business operations to prevent operational conflicts.
Admission & Retirement
Include provisions for admission of new partners and retirement or death of existing partners with continuity clauses.
Exit & Dissolution
Draft dissolution and winding-up procedures, along with non-compete and non-solicitation clauses post-exit.
The 4-Step Drafting Process
From partner details to a stamp-ready deed — a structured process that covers every operational and legal aspect of your partnership.
01
Provide Partner Details
Share the names and details of all partners, their capital contributions, agreed profit-sharing ratios, and roles in the business.
02
Lawyer Drafts the Agreement
Our lawyer prepares a comprehensive partnership deed covering all operational, financial, and exit terms.
03
Review & Finalise
All partners review the draft, raise questions, and confirm agreement on every clause before signing.
04
Execute on Stamp Paper
The agreement is executed on appropriate stamp paper and may be registered with the Registrar of Firms for additional legal protection.
Legal Framework
Partnership businesses in India are governed by a well-established legal framework covering formation, operations, taxation, and dissolution.
Indian Contract Act, 1872
Governs the enforceability of the partnership agreement as a contract.
Income Tax Act, 1961
Partnerships have distinct tax implications — partnership deeds must comply for tax registration and benefits.
Arbitration and Conciliation Act, 1996
Governs dispute resolution clauses in the partnership deed that opt for arbitration.
Client Success Stories
“We started our trading business without any formal deed. When a dispute arose, we realised how much we needed this. LegalKonnect drafted a comprehensive deed that resolved all ambiguity.”
RP
Raghunath Pillai
Kochi“The lawyer walked all three partners through every clause before finalising. The deed covers everything — profit share, authority limits, and what happens if someone wants to exit.”
MS
Meenakshi Sundaram
CoimbatoreFrequently Asked Questions
Stamp Duty Not Included
Government stamp duty charges apply to registered documents and vary by state. These are paid directly to the government and are not part of our service fee. Your advocate will confirm the applicable amount for your state before any document is executed.
Registration is not mandatory under Indian law, but it is strongly advisable. An unregistered firm cannot file a suit to enforce rights against third parties or co-partners, which severely limits its legal remedies.
Under the Indian Partnership Act, the death of a partner results in automatic dissolution unless the deed contains a specific continuity clause allowing surviving partners to continue the business.
Yes. Profit and loss sharing ratios can be freely agreed upon by the partners in any proportion and documented in the agreement. The default under the Partnership Act is equal sharing, which applies only in the absence of a specific agreement.
In a traditional partnership, partners have unlimited personal liability for the firm's debts. In an LLP, liability is limited to the partner's agreed contribution. For most businesses, an LLP offers significantly better protection.