Thinking of starting a partnership firm in India? Then, you must get done with the registration of partnership firm to avail all the benefits that a registered firm acquires. A partnership firm is a sort of business structured with mutual consent between two or more people who decided to share all the profits of the firm. Such firms are registered under the Indian Partnership Act.
It is important as it benefits you from future legal disputes. There are three types of partnership firms in India, i.e. General Partnership, Limited Partnership, & Limited Liability Partnership.
What is the procedure for registration of partnership firm?
You can register your partnership firm in any of the above-mentioned categories. Follow the steps mentioned below for registration. Also, by simply sitting at home, you can do online registration.
Documents Required For Registration of Partnership Firm
To register your firm, you should have the required documents first. Here is a list of documents that are needed:
Many of you may get confused about what is a partnership deed? Then it is a legal document signed by the partners of the firm to avoid any future disputes. It is signed on a judicial stamp paper that contains the information like: Name of all partners, Name of the firm, Nature of business, Date of commencement, Profit sharing ratio, and much more. In the end, you should also need GST registration for partnership firm.
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