Partnership (AOP) setup & returns
Partnership deed, registration with the Registrar of Firms, NTN for the AOP and its annual return.
Overview
Setting up a partnership: deed drafting, registration with the Registrar of Firms, NTN for the AOP, bank account, and the AOP's annual return.
Why it matters
A partnership (Association of Persons) is taxed as its own entity, and partners' shares follow special rules. A written deed, the right registration and a separate return keep the business and partners protected.
Who needs this
- Two or more people starting a business together
- Professional firms that can't incorporate
- Family businesses formalising ownership
How it works
Who does each step, and how long it usually takes once documents are complete.
- 1TermsYou / TAXWORK
Capital, profit sharing, roles and exit terms agreed.
1–2 days - 2DeedTAXWORK
Partnership deed drafted on stamp paper and signed.
1–2 days - 3Registrar of FirmsTAXWORK
Registered with the provincial Registrar of Firms.
1–3 weeks - 4NTNTAXWORK
AOP registered on IRIS.
1–3 days - 5Bank accountYou
Account opened with the registered deed and NTN.
1–2 weeks
Documents we need
Tick what you already have, then send the list to us.
What you receive
- Partnership deed
- Registration certificate
- AOP NTN
- Bank account letter
Deadlines, risks and penalties
- An unregistered firm can't easily sue to enforce its contracts
- Late AOP returns cost Rs 50,000 to rejoin the ATL
Mistakes we fix, and what our fee covers
Common mistakes we fix
- Input tax claimed on invoices that are not in Annex-A or are from inactive suppliers
- Late monthly returns and the default surcharge that follows
- Withholding not deducted or not deposited on time
- Sales register that does not match the bank statement
Included in our fee
- Registration or return prepared from your sales and purchase records
- Annex-C and Annex-A checks before filing
- Monthly reminders before every due date
- Copies of filed returns and payment challans
Law and references
The sections and rules this service is based on.
- Partnership Act 1932
- Section 92 – AOP taxation
- First Schedule, Division I – AOP slabs; 10% surcharge above Rs 10 million
Questions
How long does it take?
About 2–5 weeks. Step by step: Terms (1–2 days), Deed (1–2 days), Registrar of Firms (1–3 weeks), NTN (1–3 days), Bank account (1–2 weeks).
What does it cost?
Our service fee is from Rs 30,000. Government fees are extra where they apply.
What happens if I miss a deadline?
An unregistered firm can't easily sue to enforce its contracts. Late AOP returns cost Rs 50,000 to rejoin the ATL.
Is the AOP taxed or the partners?
The AOP pays tax on its income; partners' shares are then generally exempt in their hands.
Do partners file separately?
Yes. The AOP files its own return, and each partner also files their personal return showing their share.
Should we register with the Registrar of Firms?
Registration gives the partnership legal standing in disputes and is often needed for bank accounts and contracts.
Why clients choose TAXWORK
Individuals, businesses and companies across Pakistan and overseas.
Rawalpindi/Islamabad, Sialkot and Karachi (with Raza Siddiqui & Co., Chartered Accountants).
You get the scope and a fixed fee in writing before any work starts.
Progress updates, and a copy of everything we file or submit for you.
Keep reading
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View service →Ready to get partnership (AOP) setup & returns done?
Send your documents on WhatsApp or book a meeting. A consultant confirms the scope and a fixed fee before any work starts.