Partnership Firm is an alliance of two or more respective parties who have collectively decided to carry out their business tasks jointly as per their licensed Partnership Deed Agreement to gain profits.
In partnership firm all the respective parties have to share their liabilities together which unburdens various risks factors like losses. Moreover, profits are shared equally as per their mutual understanding.
When Partnership is formed, it becomes easy to reach ones desired goal as more expertise, assets, resources and funds are combined which speeds up the working process.
In Partnership firm every individual shares responsibilities by working and managing business co-operatively.
It also provides Operating Pliability for running ones business with no restrictions and limitations with respect to one’s mutual understanding between the parties and as per the Partnership Deed.
Here, the Pre-planned duration of the business targets and their respective affairs are defined at the time of registering a partnership firm which boosts the working process and when the target is achieved, the partnership will automatically come to an end.
In Partnership Firm, all the individuals receive several kinds of paybacks for their efforts and the money they have invested in the business as per their agreement. Also the share of profit is enjoyed by all the partners as per their mutual understanding.
List of Documents Required
If you wish to register your Partnership firm, following documents are essential for the registration process, such as –
- Self-attested copy PAN for all subscribers
- Self-attested copy of Identity Proof like – Voter Id / Driving License / Passport (Any One)
- Self-attested copy of Mobile Bill / Telephone Bill / Bank Statement latest 2 Months (Any One).
- Passport Size Photo
- Email Id
- Mobile Number
- Educational Qualifications
- DIN if already holding Directorship in any company
- State where the registered office of the company will be situated
- Proposed Share Holding Pattern
- Proposed Share Capital Authorised and Paid Up
- Copy of Electricity Bill as a Proof of Registered Office of the Company.
The Complete Process shall take 7-10 Working Days from the date of the Receipt of all the required documents.