Partnership Deed Format in Word: Free Sample with Clauses
A partnership deed records how partners will run the firm: name, business, capital, profit share, duties, banking, retirement and disputes. Banks, GST and income tax authorities ask for it.
Partnership deed format
Non-judicial stamp paper or e-stamp certificate of value Rs. ______________ as applicable in the State of ______________
E-stamp certificate No. ______________ Date of issue ______________
Stamp duty depends on the State and the type of document. Confirm the correct value before printing.
PARTNERSHIP DEED
This Deed of Partnership is made at Ahmedabad on 20 October 2026 between the following persons (the "Partners"):
- Harish Patel, S/o Shri Mahendra Patel, 15 Sardar Nagar, Ahmedabad, capital Rs. 5,00,000, profit share 50 percent
- Nikhil Shah, S/o Shri Pravin Shah, 9 Paldi Society, Ahmedabad, capital Rs. 3,00,000, profit share 30 percent
- Komal Desai, D/o Shri Jayesh Desai, 22 Vastrapur, Ahmedabad, capital Rs. 2,00,000, profit share 20 percent
The Partners have agreed to carry on business in partnership on the terms set out below.
- Name and business: The firm shall be called M/s Shree Ganesh Traders and shall carry on the business of wholesale trading of kitchenware and household goods, and any other lawful business the Partners agree on in writing.
- Place of business: Shop No. 14, Kalupur Cloth Market, Ahmedabad, Gujarat 380002, or any other place the Partners decide.
- Commencement and duration: The partnership commences on 1 November 2026 and is a partnership at will.
- Capital: The capital of each Partner is as stated above. Additional capital shall be brought in as agreed by all Partners.
- Profit and loss: Net profits and losses shall be shared in the ratio of profit shares stated above.
- Remuneration and interest: working partners may draw remuneration and interest on capital within the limits allowed under the Income-tax Act, as decided by all partners in writing.
- Bank account: The firm’s bank account shall be operated by any two partners jointly.
- Books of account: Proper books shall be kept at the principal place of business, closed on 31st March each year, and audited where required by law. Every Partner may inspect them.
- Duties: Each Partner shall devote time and attention to the business, act in good faith, and not carry on a competing business without the written consent of the others.
- Restrictions: No Partner shall, without the written consent of the others, borrow money in the firm’s name, stand surety, or transfer their share.
- Retirement: A Partner may retire by giving three months’ written notice. The continuing Partners may carry on the business and shall settle the retiring Partner’s account.
- Death: The death of a Partner shall not dissolve the firm among the surviving Partners, who may admit the legal heir with mutual consent and shall settle the deceased Partner’s account.
- Disputes: Disputes between Partners shall be referred to arbitration under the Arbitration and Conciliation Act, 1996, with the seat at Ahmedabad.
- Other matters: Matters not covered by this Deed shall be governed by the Indian Partnership Act, 1932.
IN WITNESS WHEREOF the Partners have signed this Deed on the date first written above.
WITNESSES
1. Name: ______________
Address: ______________
Signature: ______________
2. Name: ______________
Address: ______________
Signature: ______________
Attested before me on ______________
Name of Notary ______________ Registration No. ______________
Seal and signature of Notary ______________
Drafting note: Registration of a firm with the Registrar of Firms is optional, but under section 69 of the Indian Partnership Act, 1932 an unregistered firm cannot sue third parties to enforce contract rights. Stamp duty on a partnership deed is set by each State.
Registration, if required: Sub-Registrar office ______________ Document No. ______________
Register the firm or not?
Under the Indian Partnership Act, 1932, registration of a firm is optional, and is done with the Registrar of Firms of the State (section 58). But section 69 bars an unregistered firm from suing third parties to enforce contract rights, and bars a partner of an unregistered firm from suing the firm or co-partners to enforce rights under the deed. Most firms that deal with outsiders therefore register.
Stamp duty on a partnership deed is set by each State, so the format leaves the value blank. For limited liability, consider an LLP, which is registered with the Ministry of Corporate Affairs and has its own agreement.
Supplementary deeds
- Admission of a new partner.
- Retirement of a partner.
- Change in profit sharing ratio, name or address.
- Dissolution of the firm.
Frequently asked questions
Is a partnership deed compulsory?
A partnership can exist by oral agreement, but a written deed is needed for bank accounts, GST, tax and registration.
Can a partnership deed be notarised instead of registered?
Notarisation records signing. Registration of the firm with the Registrar of Firms is a separate step.
How many partners can a firm have?
The limit is set by company law rules; check the current limit with a professional.
Please note: these templates are for general information and are not legal advice. Laws, stamp duty, notarisation and registration rules vary by State. Consult an advocate for your case. This is an independent website, not a law firm and not a government office.