What is Partnership Firm?

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 the Partnership Deed. It is owned, managed and controlled by an Association of People for profit. Partnership firms are relatively easy to start and prevalent amongst small and medium-sized businesses in the unorganized sectors.

Partnership firms are created by drafting a Partnership deed amongst the Partners and by a registered Partnership deed, Ebizfiling can help you to start a Partnership firm in India.

Wish to start a more formalised Firm? Get to know more on LLP Registration here.

Contents of Partnership Deed:

  • The name of the firm
  • Name and details of all partners
  • Date of commencement of business
  • Duration of the firm’s existence
  • Capital contributed by each partner
  • Profit/loss sharing ratio
  • Interest on capital payable to partners
  • The extent of borrowings each partner can draw
  • Salary payable to partners, if any
  • The procedure of admission or retirement of a partner
  • The method used for calculating goodwill
  • Preparation of accounts of the firm
  • Mode of settlement of dues with a deceased partner’s executors
  • The procedure to be followed in case disputes arise between partners

Why TaxBizz India as your service provider for Partnership Firm Registration?

Choose TaxBizz India as your service provider for Partnership Firm Registration for their comprehensive expertise, meticulous attention to detail, and unwavering commitment to delivering tailored solutions. With a track record of success and a team of experienced professionals, they ensure a seamless and efficient registration process, guiding you through every step with personalized support to meet your specific needs and requirements.

Documents Required for Partnership Firm

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