Partnership Firm
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What is a Partnership Firm?
A Partnership Firm is a simple and traditional business structure formed by two or more individuals who agree to share profits and responsibilities. Governed by the Indian Partnership Act, 1932, this structure is ideal for small businesses, family enterprises, and professional practices looking for flexibility and ease of setup.
Why Choose a Partnership Firm?
A registered Partnership Firm offers legal recognition, credibility, and better enforceability of rights among partners. It’s easy to establish, manage, and dissolve, making it a popular choice for small and medium enterprises.
Key benefits include:
• Ease of formation – Simple registration process with minimal documentation.
• Low compliance – Fewer formalities compared to companies or LLPs.
• Shared control and responsibility among partners.
• Flexibility in profit-sharing and business management.
• Legal protection and enforceability when registered.
Deliverables
• Customized Partnership Deed drafted by senior lawyers.
• Registration certificate (if opted for registered partnership).
• PAN, TAN, and GST application assistance.
• Checklist of compliance obligations for partners.
• Consultation session to explain rights, duties, and dispute resolution mechanisms.
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