Yes, notarisation of the partnership deed is essential along with registration, as it makes the agreement between partners a legal one which can be defended in the court of law, if any conflicts arise between the partners.

A notarised partnership deed is not regarded as a valid document in case of legal disputes. It will not be considered to have a legal status with only notarisation, but it will be considered to have a legal status if the partnership firm is registered.

Partnership registration is not compulsory and is at the discretion of the partners whether they want to register the partnership firm or not. But a partnership firm cannot avail legal benefits if it is not registered, hence it is always advisable to register it.

Unlike registered partnerships, where partners can sue the firm or other partners in the firm's name, unregistered partnerships lack this privilege. Partners can only file a suit in their individual names, making legal action more complex.

A partnership deed can be prepared by a lawyer and needs to be made on stamp paper as per the law.

The only rule is that in the absence of a written Deed, partners don't draw a salary and instead share profits and losses equally. Partners have a duty of loyalty to the other partners and must not enrich themselves at the expense of the partnership.

There are Three charges in deed.

1) Stamp Duty -

As per Article 47 of the Maharashtra Stamp Act,

— 47.PARTNERSHIP (1) Instrument of partnership-
(a) where there is no share of contribution in partnership, or where such share contribution brought in by way of cash does not exceed rupees 50,000	500/:-
(b) where such share contribution brought in by way of cash is in excess of rupees, 50,000, for every rupees 50,000 or part thereof.	Five hundred rupees, subject to maximum duty of rupees five thousand;
(c) where such share contribution is brought in by way of property, excluding cash.	The same duty as is leviable on Conveyance under clause (a), (b) or (c)1, as the case may be, of article 25, on the market value of such property.
(2) Dissolution of partnership or retirement of partner—
(1) where on a dissolution of the partnership or on retirement of a partner any property) is taken as his share by a partner other than a partner who brought in that property as his share of contribution in the partnership.	The same duty as is leviable on a conveyance under clause (a), (b) or (c) ], as the case may be, of Article 25, on the market value of such property, subject to a minimum of rupees one hundred.
(2) in any other case.	Two hundred rupees.

2) Registration Fees -

Registration fees is also a variable of sale value upto certain limit then it is fix for all value above certain limit.
Note: registration value if 1% of sale value or 30,000/- whichever if higher.

3) Document Handling Charges (DHC) Fees -

online through collected Sub Registrar office for document handling, for every page of the document, a fee of Rs. 20/- is applicable.

Typically registered within 2-3 working days

The process involves:

1. Prepare the document
2. Signing by both parties
3. Pay stamp duty (as applicable)
4. Submit the document to the Sub-Registrar's office
5. Sign in the presence of the Sub-Registrar
6. Receive the registered document