Partnership Firm Registration
Posted by startups guide on November 19th, 2020
The common appropriate type of business organization is the Partnership Business, as it is very easy to shape. Compared to other business organisations, there are very few agreements in a collaboration organisation. A "partnership deed" is a legitimate document established to form a partnership corporation. The Indian Partnership Act 1932, governs partnership companies in India.
Meaning Of Partnership Firm
As a partnership firm, a business or company formed by two or more partners with the intention of earning profit is called. It is not necessary to register a partnership firm, but if a partnership firm is registered, there are additional benefits. Partnership deed is the legal document created to form a partnership firm.
The Indian Partnership Act 1932 is the administrative law regulating partnership companies in India. According to the Act, "Partnership is the relationship between individuals who have agreed to share the profits of a company carried out by all or any of them acting for all." For a banking business maximum number of members of a partnership is 10 and 20 for other firms to join a collaboration firm.
So patnership firm registration is one of the most oldest form of entity currently running in India. One of the best thing about this partnership firm is that it is very easy to start and operate and compliance is also very less.
Benefits of Partnership Firm
Process for Registration
As evidence of the partners' identity and address, any of the following two documents may be submitted:
Proof of the principal place of business:
About the Authorstartups guide
Joined: November 19th, 2020
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