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What documents are needed to start a partnership account?

To register an account with SS Corporate as a partnership firm, the partners are required to furnish specific documents and commitments.

The account can be formed in the name of any of the Partners or the name of all of them. The following documents must be sent:

1. Completed Trading & DEMAT and/or Commodity forms, as well as the pictures and signatures of the Authorized Signatories.

2. For a partnership, properly completed Annexures are necessary (with the authorized partner's signature and the firm's seal affixed to the authorized partner's signature).

3. A public notary-attested copy of the partnership Deed. (The deed must include a provision for investment.) The Authorized Signatory's seal and signature shall appear on the fiRs.t three pages of the partnership deed (or all pages if the number of pages is smaller).


4. A copy of the firm's PAN card, as well as a copy of each partner's PAN card (Individual PAN to be self-attested respectively without the seal and sign of the Authorized Signatory).

5. The firm's address proof copy, as well as the address proof copies of each of the firm's partners. (Individual address proof must be self-attested without the Authorized Signatory's seal and signature.)

6. Bank account proof (a copy of a canceled cheque leaf, bank statement, bank passbook, or bank letter)

7. A copy of the partnership firm's balance sheet for the previous two financial years, which must be submitted every year, as well as a net worth certificate from a Chartered Accountant if the firm is freshly founded. (On all pages of the balance sheet, the Authorized Signatory's seal and signature should be visible.)

8. The firm's income proof documentation, which must include:


6-month period the partnership bank account's bank statement/passbook.

Profit and loss statement from the most recent audit.

A net worth certificate from a Chartered Accountant and an Income Tax Return Declaration is necessary if it is a newly formed partnership firm. A declaration of Income Tax Returns must be given if the return has not been filed.

Note: If one of the partners is a foreign national or an NRI, the individual KYC page and documents (Pan, Indian, and Overseas address proof) must be notarized by authorized officials of overseas branches of scheduled commercial banks registered in India, public notaries, court magistrates, judges, or the Indian embassy/consulate general in the country where they reside.

9. A declaration from the firm and all of its partners under the Foreign Account Tax Compliance Act (FATCA).

10. A copy of the registration certificate (For Registered Partnerships only).

11. Authorized Person's Aadhaar as per the Letter of Authority on the firm's letterhead [Optional].

12. Non-individual accounts require physical verification as part of the mandated IPV requirement for all brokers. To complete the IPV procedure, a client representative must visit an Bloom branch office or a Bloom representative must visit the client's offices/residence.

13. Each partner must fill out and sign their own KYC for individual KYCs and supporting documents must be signed without the stamp).

14. If an individual owns more than 15% of the applicant's profits, the individual must declare themselves as the applicant's ultimate beneficiary and provide Annexure A. If no natural person can be found, the senior management official may be considered one.

15. Cheque for account opening payable to "Ac Agarwal Share brokers Private Limited":

(a) Rs.500 for the opening of an equities trading account

(b) Rs.300 for the opening of a commodity trading account

Additional documents required to open a partnership account if a business is a partner-

A. A Board Resolution is necessary to verify the authorized signatories if the company is KYC registered.

B. If the company is not KYC registered, authorized directors shall sign the following forms and annexures with the company's stamp:

1. The company's KYC and the company's Promoters/Directors.

2. The company's pan card and proof of address

3. Directors.' pan card and address proof with self-attestation (without the stamp)

4. The company's MOA and AOA (The Company’s MOA should authorize the company to join the partnership firm as a partner)

5. Balance sheet for the last two years; if the company is freshly founded, a net worth certificate from a CA is necessary, as well as an ITR Declaration annexure.

6. Board resolution is required, and the most recent shareholding pattern is available. Director's List Annexure, Annexure-A with samples signature and photograph (all annexures and board resolutions must be printed on firm letterhead)

7. Certificate of incorporation with the seal and signature of an authorized director.