Partnership Firm

Partnership Firm Registration

A general partnership firm is a business structure in which two or more individuals join together and operate a business in accordance with the terms and objectives set out in the Partnership Deed.

There are two types of partnership firms, registered and unregistered partnership firms. It is not mandatory to register a partnership firm; however, it is recommended that a partnership firm is registered in order to avail of several benefits conferred by the law.

It is simple to form a partnership firm. First, a partnership firm deed needs to be drafted among the partners. And followed by availing other registration services such as VAT, Sales tax, Service tax, TDS registration, etc.

Key Points of Partnership Firm

• 2 Person Required as Partners.
• Partners share the responsibilities and duties of the business.
• More capital can be brought into the business.
• Partners share responsibilities and duties of the business

Requirements for Partnership Firm Registration

• PAN Card of each partner,
• Name, fathers name, and address of all partners,
• Name and nature of business,
• Address of business.

Time Duration

• • 12 working days.

TAXADVISR Task

• • Preparation of Partnership deed,
  • Get approval from partners,
  • Register with Registration of Firms,
  • Obtaining of certificate and handover to the clients.