Partnership Deed - Agreement

Aug 31, 2026

Upload by Aurora

Partnership Deed sets out the legal framework for two partners to form and operate a partnership firm, including the identities of the first and second partners and key firm details such as the firm name, objective/type, principal place of business, commencement date, and duration. It defines core concepts like deed, firm, capital account, capital contribution, GST concepts, managing partner, and how profits and losses and dissolution distributions are handled. The deed also includes rules of interpretation, capital contribution and withdrawal limits, treatment of additional capital, and restrictions on interest on contributed capital.

LanguageEnglish

CategoryLetters

FormatDOCX

Pages18

Reading Time6 min

AccessFree to download

Definitions

Capital and Accounts

Goods and Services Tax

Managing Partner and Partners

Partnership Firm Setup

Name, Objective and Place of Business

Commencement and Termination

Capital Contributions

Interest and Authority

Partner Intent and Purpose

Interpretation Rules

Interest on Capital

Capital Withdrawals

Additional Capital

PARTNERSHIP DEED THIS DEED OF PARTNERSHIP IS EXECUTED AT………. ON THIS…………… DAY OF ________ AD ……………. BETWEEN .......... PAN NUMBER ……….. son / wife / daughter of ………. residing at ……………..by faith…………… , by Occupation …………. , by Nationality………………., Herein after referred to and called as the “FIRST PARTNER ” AND .......... PAN NUMBER ……….. son / wife / daughter of ………. residing at …………….. by faith…………… , by Occupation …………. , by Nationality………………., Herein after referred to and called as the “SECOND PARTNER ” ETC.. In this Deed, the following definitions apply: DEFINITIONS "Deed" means this partnership agreement."Annual Report" in respect of a particular financial year refers to the annual report of the Firm, created in accordance with the "Firm Annual Report" clause of this Deed."Capital Account" in relation to a Partner means an individual capital account into which that Partner's initial Capital Contribution, and any additional Capital Contributions made by that Partner, are credited."Capital Contribution" refers to the initial contribution of capital, whether in cash, property, goods or services, that each Partner respectively provides to the Firm. "Dissolution Distribution" means the manner in which any assets or liabilities of the Firm are distributed between the Partners upon dissolution of the Firm, as described in the "Dissolution" clause of this Deed. "Firm" refers to the partnership which is created under this Deed. "Goods and Services Tax" means Goods and Services Tax imposed on a supply of goods or services in India, pursuant to the GST Law."GST Law" means the Goods and Services Act, 2017."Managing Partner" means the Partner who is appointed to the position in the Firm as the Managing Partner in accordance with the "Management" clause of this Deed, or any person subsequently appointed to that role. "Partner" refers individually to each of the partners named in this Deed. "Partners" refers to any two or more of the partners named in this Deed."Profit and Loss Distribution" means the method by which profits and losses of the Firm are distributed between the Partners, as described in the "Profit and Loss" clause of this Deed. NAME OF PARTNERSHIP FIRM SHALL BE ……………… TYPING OPTION OBJECTIVE / TYPE OF PARTNERSHIP FIRM : PRINCIPAL PLACE OF BUSINESS OF PARTNERSHIP: The Firm will commence on ________. TYPING OPTION The Firm will continue until it is terminated by law or in accordance with this Deed. 6. CAPITAL CONTRIBUTIONS : TOTAL CAPITAL OF THE FIRM AS ON DATE OF EXECUTION IS RUPEES : …………. Each of the Partners has con tributed to the capital of the Firm, in cash, property, goods or services in agreed upon value, as follows: INTEREST AND AUTHORITY : AND WHEREAS A. The Partners intend to work together as partners to carry on the proposed business B. The Partners desire to enter into this Deed to regulate their relationship and reduce the terms and conditions governing their partnership and other matters related thereto into writing. C. This Deed sets out the terms and conditions that govern the relationship between the Partners, and the Partners each respectively agree to be bound by the terms of this Deed. (7) INTERPRETATION In this Deed, unless the context otherwise requires, the following rules of interpretation shall apply: (a) Words referring to one gender include every other gender.(b) Words referring to a singular number include the plural, and words referring to a plural include the singular.(c) Words referring to a person or persons include companies, firms, corporations, organisations and vice versa.(d) Any obligation on a Party not to do something includes an obligation not to allow that thing to be done.(e) Headings and titles are included in this Deed for convenience only and shall not affect the interpretation of this Deed.(f) Each Party must, at its own expense, take all reasonable steps and do all that is reasonably necessary to give full effect to this Deed and

FAQs

What is the purpose of this Partnership Deed?

It regulates the relationship between the partners by setting the terms and conditions governing their partnership and business relationship in writing.

How are profits and losses distributed under the deed?

Profits and losses are distributed according to the method defined in the "Profit and Loss" clause, which the deed references as the controlling approach.

When can partners withdraw capital from the firm?

Capital may be withdrawn only in accordance with the deed, with express consent of all partners, or as otherwise required by law.

Aug 31, 2026

Upload by Aurora