A partnership firm is an ancient way to start a business in India. In a partnership firm, two or more people join together to achieve a common goal. Section 4 of the Indian Partnership Act defines a partnership as “Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any one of them acting for all.
The person who has entered into a partnership with another is called a “partner” and collectively “partners” and the name under which their business is carried on is called the “firm name”. Under Part VII of the Indian Partnership Act, 1932 the registration of a partnership firm is not compulsory. However, it can be done in order to avail of the benefits of Registration. It is the decision of the partners to register the firm and there are no penalties for non – registration.
We have two ways to start a business in this format, the first is an unregistered partnership firm constituted through partnership deed and the second one is a registered partnership firm constituted through partnership deed with registered in magistrate office/ registrar of firms. It is not obligatory to register a partnership firm but a firm can enjoy many advantages that the Partnership Act provides upon its registration.
BENEFITS OF PARTNERSHIP FIRM REGISTRATION
- Simple and Easy to Start
- Minimum Government Compliances
- Higher Credibility in the Market
- Legal Entity and Easy Finance
- Benefits under Startup India
- Profit and Loss Sharing
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- Quick, Best, and Affordable Service
- 10 Years of Industry Experience
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Visit Us for More Information:- https://udyoghelp.com/partnership-firm-registration/
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2151/9A/5, 3rd Floor, New Patel Nagar,near shadipur metro station New Delhi - 110008
9311911002
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2151/9A/5, 3rd Floor, New Patel Nagar,near shadipur metro station New Delhi - 110008
9311911002
care@udyoghelp.com
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