A Partnership Firm is a business structure where two or more persons share ownership, profits, responsibilities, and unlimited liability jointly.
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A Partnership Firm is a business structure where two or more individuals come together to operate a business with shared responsibilities and profits. It is governed by the Partnership Act, 1932, and does not require compulsory registration, though registered partnerships enjoy better legal standing. This structure is ideal for small businesses and professional firms looking for a simple business setup.
A Partnership Firm is a business entity formed by two or more individuals who agree to share profits, losses, and responsibilities. Governed by the Indian Partnership Act, 1932, it operates based on a partnership deed. Partners have unlimited liability, and the firm lacks a separate legal identity from its partners.
Requires minimal documentation and registration.
No mandatory corporate governance rules.
Distributed among partners as per agreement.
No restrictions on decision-making.
No separate corporate tax.
Can start with any capital contribution.
Assistance with partnership deed and registration.
Compliance with taxation and regulatory frameworks.
Fast partnership firm registration.
Cost-effective solutions for small businesses.
Support for taxation and business filings.
Define roles and profit-sharing ratios
Apply with the Registrar of Firms (optional).
Required for tax compliance
Operate under the registered firm name
If applicable, register for GST
File income tax returns and renew licenses if needed.
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