A partnership deed is a written legal document to avoid unnecessary misunderstanding, harassment and unpleasantness among the partners in the event of any dispute. It contains the partner’s details, objectives of the business, registered office address, contribution of partners, profit and loss ratio, management rights etc.
Partnership agreement must be printed on a Non-Judicial Stamp Paper with a value based on the contribution of partners and/or assets of the firm. The partnership agreement is usually signed in the presence of all the partners and witness.
Once the deed is drafted, PAN card of the partnership firm has to be applied.