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Cost-effective efficiency and timeliness
T&C*Terms & Condition*
- Total payment may vary depending on government fees and the entity of the company.
- Downtime on the government portal may cause work delays.
- Documents should be appropriate as per the requirements.
- Documents must be provided in time to avoid delay.
- Professional and experienced team
Partnership Registration
A partnership business is a legal structure where two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Deed. Partnerships offer shared responsibilities, profits, and liabilities.
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A Partnership Firm Is A Business Structure In Which Two Or More Individuals Manage And Operate A Business In Accordance With The Terms And Objectives Set Out In A Partnership Deed That May Or May Not Be Registered. In Such A Business, The Members Are Individually Partners And Share The Liabilities As Well As Profits Of The Firm In A Predetermined Ratio.
A Partnership Firm Is Best For Small Businesses That Plan To Remain Small. Low Costs, Ease Of Setting Up And Minimal Compliance Requirements Make It A Sensible Option For Such Businesses. Registration Is Optional For General Partnerships. It Is Governed By Section 4 Of The Partnership Act, 1932. For Larger Businesses, It Has Lost Its Relevance With The Introduction Of The Limited Liability Partnership (LLP). This Is Because An LLP Retains The Low Costs Of A Partnership While Providing The Benefit Of Unlimited Liability, Which Means That Partners Are Not Personally Liable For The Debts Of The Business.
The Partners In A Partnership Firm Are The Owners, And Thus, Are Not Separate Entity From The Firm. Any Legal Issues Or Debt Incurred By The Firm Is The Responsibility Of Its Owners, The Partners.
No, Registration Of A Partnership Is Not Necessary. However, For A Partner To Sue Another Partner Or The Firm Itself, The Partnership Should Be Registered. Moreover, For The Partnership To Bring Any Suit To Court, The Firm Should Be Registered. For This Reason, It Is Recommended That Larger Businesses Register The Partnership Deed.
