Business Registrations
Partnership Registration
Forming a Partnership Firm in India
In India, a partnership firm is a well-established business structure that allows two or more individuals to collaborate and operate a business venture. It provides a flexible and streamlined approach to establishing a business compared to other options.
What is a Partnership Firm?
A partnership firm is a business entity formed by an agreement between two or more individuals (partners) to carry on a business and share profits and losses. The Indian Partnership Act, 1932, governs the formation and operation of partnership firms in India.
Benefits of a Partnership Firm
- Easy to Form: Compared to Limited Liability Partnership (LLP), partnerships are easier and faster to establish with minimal formalities.
- Profit Sharing: Partners share profits and losses according to their pre-determined agreement, offering flexibility in profit distribution.
- Management Flexibility: Partners have the freedom to manage the business as per their expertise and can easily adapt decision-making processes.
Documents Required for Formation
Documents Required
- Name and address of the firm and all partners.
- Nature of business.
- Capital contribution by each partner.
- Profit/loss sharing ratio.
How we can help you in Partnership Formation
- Draft and finalize the Partnership Deed.
- Obtain PAN Card for the firm.
- Register with ROF in different states
- Apply for GST, TAN, IEC
- Apply for Trademark