Posted by Partnership firm can do online udyam registration on at msme.e- registration.co.in.
Udyam Registration for Partnership Firm is simple and inexpensive the process of Udyam Registration for Partnership Firm is 100% online using a self-declaration method.
The status of the MSME for Partnership Firm you can visit the msme.e-registration.co.in and you can execute the entire process. Udyam Registration for Partnership Firm is inexpensive. The Partnership Firm can take registration under Udyam.
Which type of business entities can register as an MSME
The two business entities can register as an MSME:
1 One Person Companies
2 Limited Liability Partnerships
3 Hindu Undivided Family
4 Propritorship
5 Private Limited Companies
6 Partnership Firm
One Person Company:
A One Person Company (OPC) is a type of business entity that allows a single individual to operate and manage a company with limited liability. It’s a relatively new concept that aims to provide entrepreneurs the benefits of a private limited company while allowing them to run the business as a single person.
Limited Liability Partnership:
A Limited Liability Partnership (LLP) is a business structure that combines elements of a partnership and a corporation, offering its partners limited liability protection while allowing them to actively participate in the management of the business. It is commonly used by professionals and service providers as well as small and medium-sized businesses. Here are the key characteristics and features of a Limited Liability Partnership (LLP).
Hindu Undivided Family:
A Hindu Undivided Family (HUF) is a legal concept in India that refers to a family unit that consists of persons lineally descended from a common ancestor, including their wives and unmarried daughters. The concept of HUF is primarily associated with Hindu law and has its roots in traditional Hindu joint family systems.
Propritorship:
A proprietorship is a simple and commonly used form of business organization where a single individual, called the proprietor or sole proprietor, owns, manages, and controls the business. It’s the most basic type of business structure and is often chosen by small businesses or individuals starting out with their own enterprises. Here are some key features of a proprietorship Firm.
Private Limited Companies:
A Private Limited Company is a type of business structure that offers limited liability to its shareholders and has restrictions on ownership and share transfer. It’s one of the most popular forms of business entities chosen by entrepreneurs for medium to large-scale businesses. Here are the key features and characteristics of a Private Limited Company.
Partnership Firm:
A partnership firm is a type of business organization in which two or more individuals or entities come together to collaborate and operate a business for profit. Partnerships are a popular choice for small to medium-sized businesses, as they provide a framework for pooling resources, sharing responsibilities, and jointly managing the business. Here are the key features and characteristics of a partnership firm:
Details which are required for Udyam Registration of a Partnership Firm
- Aadhaar No: The managing partner’s Aadhaar number is mentioned in the case of a partnership firm.
- Name of Candidate: The name mention on the Aadhaar card, whose number is entered in the choice above, is filled out in this field.
- Social Class: Select the candidate’s social category from the list of available possibilities.
- Organizational Types: choose an organization from the list of available possibilities.
- Name of the firm: At this point, mention the full name of the firm or the enterprise.
- Business Location :Provide the business address in this section’s location field.
- PAN NO.:Enter the business PAN card’s 10-digit PAN number.
- Date of Incorporation : Specify the date of business officially started.
- Mobile Number: Enter the candidate’s or company’s contact number. OTP will recive on this
- E-mail address: Enter the applicant’s mail addresses.
- Upload the Aadhaar Card: Candidate must upload or scan a copy of the front side of their Aadhaar card.
- PAN card upload: candidate may upload a scanned copy of their PAN .
The steps how to Apply Udyam Registration for Partnership Firm
1: Check the official website and sign in for more details.
2: Following Information:
- The candidate’s name exactly same as it is appears on their Aadhaar card.
- Please provide your cell phone number.
- Fill down your email address.
- Enter your office address, along with the state and district.
- Enter your company’s yearly turnover .
- Select your social group from ST, SC, OBC, or general.
- Enter your UIDAI-issued Aadhaar number.
- If you have a previous UAM registration number enter it .
- Please enter the PAN card number.
- Enter your bank account number.
- Type the name of your business.
- Date of Business Inception: Indicate the day and date when your company officially launched.
- Select the “Partnership” from the drop-down menu under Organization .
- Choose your company’s primary line of business .
- The total number of memebers male, female, and other employees at your company.
- The investment made up on the plants, machinery, and equipment
3: Upload your PAN card & Aadhar card.
4: Enter the Verification Code.
5: Select “Submit Application”
Benefits of Udyam Registration for Partnership Firm
- Decrease in electricity costs.
- Under direct tax laws, exemption.
- Get bank loans with reduced interest rates.
- Get a 50% discount on trademark and patent fees.
Prerequisites of MSME Registration for Partnership Firm
- For Micro Businesses –The full of amount or the total number of amount invested in the firm must be less than Rs.1 crore, and the annual turnover must be less than Rs.5 crores in order for it to qualify as a micro enterprise for MSME registration MSME reg..
- For Small Businesses – In the case of a small business, the total business investment is less than Rs. 10 crores, and the annual turnover must be less than Rs. Fifty crores order to be eligible for MSME registration.
- For Medium-Sized Businesses – The largest businesses on the list are medium-sized businesses. The total number of investment must be less than Rs.50 crores and annual turnover is below Rs. 250 crores order to be eligible for MSME registration.
Conclusion
Partnership Firms are popular choices for small to medium-sized businesses, providing a framework for pooling resources, sharing responsibilities, and jointly managing the business. The required details for Udyam registration include the managing partner’s Aadhaar number, name of candidate, social class, organizational types, firm name, business location, PAN number, and date of incorporation.