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Agreement

Partnership Deed

A partnership deed records the terms of a partnership firm carried on by two or more partners for profit.

PARTNERSHIP DEED

This Agreement is made on [Date] between [Partner 1] and [Partner 2]

  1. Parties. This Partnership Deed is executed between [Partner 1], R/o [Address] and [Partner 2], R/o [Address] (the "Partners").
  2. Recitals. The Partners have agreed to carry on business in partnership under the Indian Partnership Act, 1932 and record the terms herein.
  3. Firm Name & Business. The partnership shall carry on business under the name [Firm Name] in the business of [Nature of Business] from [Effective Date].
  4. Capital & Consideration. The total capital of the firm shall be Rs. [Amount] contributed as [Partner 1: Rs. __ / Partner 2: Rs. __], carrying interest at [__]% per annum.
  5. Profit & Loss Sharing. The net profits and losses of the firm shall be shared in the ratio [__:__] after providing for interest on capital and partners' remuneration.
  6. Duties & Obligations. Each Partner shall be just and faithful, devote due attention to the business, and maintain proper books of account.
  7. Banking & Management. The firm's bank account shall be operated by [Partner(s)] jointly/severally; major decisions shall be taken by mutual consent.
  8. Representations & Warranties. Each Partner warrants competence to contract and that no conflicting business obligation subsists.
  9. Confidentiality. The Partners shall keep the firm's trade secrets and accounts confidential during and after the partnership.
  10. Admission, Retirement & Death. A new partner may be admitted by mutual consent; on retirement or death, accounts shall be settled and the firm reconstituted as agreed.
  11. Term & Dissolution. The partnership is [at will / for [__] years]; it may be dissolved by mutual consent or as provided under the Act, with assets applied per Section 48.
  12. Governing Law & Jurisdiction. This Deed is governed by the laws of India and subject to the jurisdiction of courts at [City].
  13. Dispute Resolution. Disputes among Partners shall be referred to arbitration under the Arbitration and Conciliation Act, 1996, seated at [City].

IN WITNESS WHEREOF the Partners have executed this Deed on the date first written above.

___
[Partner 1]
___
[Partner 2]
___
Witness 1: [Name & Address]
___
Witness 2: [Name & Address]

Before you use it — fill in / check

  • Partner 1
  • Partner 2
  • Capital/consideration
  • Effective date

How to use this template

  1. Read through and replace every [bracketed] or blank placeholder with your actual details.
  2. Delete any clause that doesn't apply and add anything specific to your situation.
  3. Click Print / Save as PDF to download, or Copy text to paste into your letterhead.
  4. Get it signed / stamped / notarised as required, and keep a copy for your records.

This is a general, editable template for convenience only — not legal advice. For anything material, have a professional review it. TaxClue isn't liable for how it's used.