Partnership Firm Registration

You Can Now Register Your Company At Just 3,999 (All Inclusive)* Time line-7 working days

In the Partnership Firm, Number of partners are jointly worked and manage the Business and share the liabilities and responsibilities among them. The partners are responsible for also the simple thing, so they have the unlimited liability. In the Partnership firm, the partners should use the personal properties to the liability.

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PARNERSHIP FIRM - An Overview

The General Partnership is the structure of the business. In that, two or more members joined together and run the business depends upon the law of the Partnership deed. From the launch of the Limited Liability Partnership (LLP), the word limited is not related to that. Because, unlimited liability is there for the partners. Example, they are individually liable for the Business debts. But the Minimum cost, easy setup and smaller compliance needs , these are made the sensible choice for home business. In the General partnership, registration is optional thing.

How to Register

  • Step 1:Gathering information: We are collecting all your business details
  • Step 2: Draft: We make the Draft and send you within 4 working days.
  • Step 3: Force to perfection: We made that up to 2 rounds repetition, If it need ,there is no extra amount.

Required Documents

Identity And Address Proof

For the Registration process should have the proper Identity Proof and Address Proof. Each and every directors and share holders ID proof & address proofs are required for the registration process. Carrying the scanned copy ID proofs for the MCA online registration process is listed here.

  • Form 1 (Registration application according to the partnership Act)
  • Partnership deed of the original copy signed by all the partners
  • Affidavit declaring intention to become partners
  • To registered office of the rental and lease agreement of the asset

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Advantages of Partnership Firm registration

Checklist for Registering a Company in India

According to the law in the Company Act, 2003 in order for any company to be registered in India, the below conditions have to be met.

Minimum Compliance

The Partnership firm shouldn't require any auditor to audit. The yearly account filling with registrar is no need, when the company have registered or in the process. Yearly compliance is very low, when compared to the LLP. In the General Partnership, service and sales tax, Taxes depends on turnover is no need to mention.

Easy to Start

Can start the partnership firm within 2 to 4 days even an unregistered the company. But the completion of the registration, have more advantages. By having the primary advantages, can get the court rooms of the lawsuits for opposing some other business or Firm of the business associates for administrate the rights according to the Partnership Act

Comparatively Economical

Starting the general partnership is very cheaper than LLP. For a longer time also continue the work in below cost like the minimal compliance. Home business is also suitable for the firm, so, there is no need of auditors. Because, it produce the unlimited liability.

FAQs on Partnership Firm

It is better for small business, so the Partnership firm is easy to setup, low cost, small compliance needs, to make the sensible option for those business. According to the Partnership Act 1932 section 4 will governed the Partnership business. . From the launch of the Limited Liability Partnership (LLP), the word limited is not related to that. Because, unlimited liability is there for the partners. Example, they are individually liable for the Business debts.

There is no separate entity for the firm. The partners are owner for the partnership firm. The owners(Partners) have the responsibilities with the any legal things/issues and debts created by the firm.

In the partnership firm, minimum 2 members are required. Banking business of the Partnership firm should have 10 members. If you are prefer the any other business, there should be up to 20 member. The firm of the profit and loss are share for all the partners.

No, the registration is optional thing. But, It is advised to make registration online, because of the precaution before the sue on each other or in firm. It is the biggest reason to register the business.

The Partnership deed should contain Partners name & addresses, partnership name, starting date of the firm, Each partners capital investment, Partnership type & profit sharing matrix, intake and rejection of partner are followed by the rules and regulations.

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