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Partnership

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Partnership

What is a Partnership Firm?

Partnership Firm online:- A partnership firm is an organization which is formed with two or more persons
to run a business with a view to earn profit. Each member of such a group is known as partner and
collectively known as partnership firm online. You can incorporate your partnership firm through its is registration with Registrar of the Firms or you can make a partnership deed, which should be notarized therefore.

Type of Partnership Firm

1. General partnership :- all owner share in operation the business and assuming for the business debt.
2. Limited liability partnership :- partnership with one or more general partner.
3. Particular partnership – limited by time.
4. Particular partnership – limited by purpose.
 

Documents required for registration of Partnership Firm

  • pan card (all partner)
  • id proof (all partner)- Self- attested copy of Voter ID and Aadhar Card/ Driving license/ Passport of all partners
  • business Address proof -utility bill
  • a)Rent agreement if rented
  • b)Noc if Residing with relative
  • bank statement (all partner)
  • photo
  • nature of business
  • Trade Name

time of process : 15 to 20 working days

Pricing :-

Proprietorship
Rs. 3499/-INR
Include :- Partnership deed drafting service by legal expert PAN and TAN application Partnership firm registration under MSME acts 2006
Premium
Rs. 4999/-INR
Include :- Basic registration of partnership firm package PAN and TAN application GST registration on partnership firm name
Advance Basic
Rs. 9999/-INR
Include :- Basic registration of partnership firm package PAN and TAN application Income tax registration all partnership firm name
 
Advantage of Partnership Firm
  •   Firm can file suits
  •   Partners can file suits
  •   New partner can getting information about the firm
  •   Third party can get information about the firm
  •   More manpower
  •   More financial resource
  •   Ease of information
  •   Easy Dissolution
  •   Division of risk
  •   Secrecy
  •   Better making decision
  •   Flexibility

Time for Process

  •  1:-  Partnership Deed : day.
  •  2:- Pan : apply one day.E pan comes in around 7 working days.Physical pan will
  •  3:- Chance of partiality will reduce and helpful in transparency in business.
  •  4:- Reach in 12 to 15 working days.
  •  3:- Tan : 4 to 5 working days
  •  4:- GST : 3 to 4 working days after getting pan
 

Benefits of Partnership Registration:-

Other Partners Or Power to the Take Legal Action Against Firm In the event that any debate emerges among Partners or between Partner & the firm or between a Partner and ex-Partner, and the question depends on  rights emerging from contract (i.e. association deed) or upon the rights presented by the Partnership Act, that point a Partner of an enlisted firm can be simply document a case in court. This power isn’t accessible Partner of an unregistered firm. Be that as it may, a criminal continuing can brought by a Partner of an unregistered firm the against alternate partner(s). In this manner, if a Partner takes of the property of the firm or puts fire the structures of the firm, any Partner can be prosecute him for the same. Therefore this is the advantages of the registration of Partnership Certificate or partnership firm online.

Registered Firm can be file case Court against 3rd parties

The partners of an enrolled firm can be simply record case in the court (if required), to implement any privilege emerging from the contract e.g. the recuperation cost of merchandise provided. This power isn’t accessible partners of an unregistered firm (with the exception of if there should arise an occurrence of the criminal continuing). It should, in any case, be noticed that in the spite of the fact that an unregistered firm cannot record a body of evidence against outsider, the outsider dependably has the ability to the document an argument against both enlisted & also unregistered this is advantages of the partnership firm.

Power to claim set-off

On the off chance that an outsider sues the firm to recuperate whole of cash enrolled firm can be simply assert a set-off i.e. the enrolled firm can be state that outsider likewise owes some cash to the firm & the same ought to the balanced against the claim being referred to. This power isn’t accessible to an unregistered firm. Therefore this is a benefit of the registration of Partnership Certificate or partnership firm online.

Why importance of Partnership

  • Risk bearing
  • Continuity
  • Decision making and control
  • Mutual agency

Frequently asked questions :-

Q1. What is Partnership Firm?
Ans:- :-Food licenseAns:- Partnership firm online is a type of business where two or more person makes an agreement for carrying business activity. It has many benefits and its incorporation easy, as it requires no minimum capital contribution for incorporation.
Q2. What is Partnership Firm Registration?
Ans:- Partnership Firm Registration is very simple and easy. Partnership Firm  can be incorporate by minimum two persons. There is no requirement of the minimum capital contribution. You can incorporate your partnership firm through its is registration with Registrar of the Firms or you can make a partnership deed, which should be notarized therefore, it is optional registration of the partnership firm.
Q3. What is Partnership Deed ?
Ans:- Partnership Deed Registration Online:- A partnership deed may contain any matter relating to the regulation of partnership but all provision in the deed should be within the limits of India partnership act 1932. A partnership deed should contain the following clause:- • Nature of business, • Duration of partnership, • Name of the firm capital , • Share of Partnership Certificate in profit and losses, • Bank of account firm , • Books of account ,  
Q4. Can a partnership firm be sued in the name of the firm?
Ans:- Yes. A partnership firm can be used in its own name. The firm is a treated separately from the partners. However, the partners do not enjoy LLP available in the case of Limited Liability Company. In a situation where firm is not in position to the discharge its liabilities, the partners shall be called in pay the liabilities of firm.
Q5. Can one deal with one of the partners of a partnership firm?
Ans:- Yes. The law presumes that each partner is an agent of other & while dealing with third parties the partner is a representing Partnership Certificate or partnership firm online in good faith. The acts done by 1 partner is binding on another even if it’s not in knowledge of other party.  
Q6. Is a deed of partnership necessary?
Ans:- It is not compulsory for the partnership deed to be writing. Partnerships can be also oral.  
Q7. Who can be partners?
Ans:- Partners must be major (above age of 18), should be sane & should not be disqualified by law from the entering into contract.  
Q8. What is Partnership at will?
Ans:- If a partnership deed does not provide for the duration or for dissolving partnership in any manner, it is Partnership at will.  
 
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