It is simple to form a partnership firm. First, a partnership firm deed needs to be drafted among the partners. And followed by availing other registration services such as VAT, Sales tax, Service tax, TDS registration etc.
A partnership firm is a popular form of business structure in which two or more individuals join together and operate a business in accordance with the terms and objectives set out in the Partnership Deed.
There are two types of partnership firms, registered and un-registered partnership firm. It is not mandatory to register a partnership firm; however, it is recommended that a partnership firm is registered in order to avail several benefits conferred by the law.
Processing steps for Registration
JS Tax Consultant can help you to startup Partnership within 7 to 14 working days, subject to Government processing time.
- Registration of Partnership Deed
- Partnership Deed Drafting
- Obtaining PAN & TAN
Documents needed for partnership
- Minimum two person as partner
- Partnership Deed
- NOC from the owner of premises
- Two color Photo of all the partners
- Pan Card of all the partners
- Proof of Registered company Address
- Address Proof of all the partners
- Signature on statutory form
Advantages of a Partnership Business
- Easy to create, No Registration is mandatory
- Can be started within hours by signing a partnership agreement
- Easy to add and remove partners without any hassle
- Property can be owned in the name of the firm
- Capacity to Borrow Money in the name of firm
- Annual filing is not required
JS Tax Consultant experts can help you get started with a registered or un-registered partnership firm.