Partnership Firm

Partnership Firm2018-06-01T07:57:28+00:00

Highlights

How partnership firm is good business option for my business?

With the synergy of business partner you may boostastonish growth in your business. Forming a partnership deed is the quickest way to wrap up legally all agreed terms with partners such as profit/loss sharing ratio, capital contribution, remuneration, etc and kick-start the business formally

Frequently Asked Questions

The partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. It is one of the quickest ways to form a legal entity where a group of 2 or more can do a business.
The amount of stamp duty is determined by two factors 1) capital contribution by partners 2) the state in which you are planning to form your partnership firm.
A signed and notarized Partnership deed drafted on appropriate value of non-judicial stamp paper is the conclusive evidence of the partnership firm.
Yes, you can name whatever you want however that business name is not secured under laws from being copied. We advise you to incorporate LLP if you want to protect your business name.
No, In order to discharge the liabilities of the partnership firm all partners are jointly and severally liable to repay all the business liabilities.
It is optional to register your partnership firm with state authority. However unregistered partnership firm can do business same as a registered partnership can do. If you really want to register your business under government records it is better to form an LLP to save time & cost and restrict your liability.