Easy to establish and run. a business structure in which two or more individuals manage and operate. the terms and objectives are set out in the Partnership Deed. low costs, ease of setting up and minimal compliance requirements make it a sensible option for some. Registration is optional for General Partnerships. There is always a second chance in life, but not in business.
The power of togetherness.
No Minimum Capital
There are no restrictions as such with respect to the minimum capital requirement in case of partnership firm. The Partnership firm can be registered even with Rs. 10,000 as total capital.
Easy To Form
Partnership Firm is very easy to form. It comes into existence merely by a Partnership Deed. Its registration is not mandatory. Even after formation, there are no annual filings to be done except Income tax returns.
As a partnership firm requires a minimum of two partners, there’s an availability of larger resources be it financial resources or managerial resources as compared to a proprietorship firm.
Its operations are scalable. Any new partner can be introduced only by executing a supplementary partnership deed. A partner can retire or can be removed by executing a similar deed.
On account of its very nature, Partnership firm enables sharing of risks by more than 1 person as the profit and losses are shared by all the partners. This ensures diversified financial risks.
Better Tax Planning
Partnership firm is a legal tool for better tax planning. The partnership firm is a separate entity and its tax is calculated separately so it can offer remuneration and interest to working partners.
A few simple steps to go together.
Complete a Checklist
Verification of Documents
Drafting & Executing Partnership Deed
Obtain PAN & TAN
A few simple paper formalities.
Photograph of all the Partners
PAN Card of all the Partners
ID Proof of all the Partners (Driving License/Passport/Voter ID)
Electricity Bill or any other utility bill for the address proof of the Registered Office
We never part ways.
We partner in your work but not in profit.
We treat all equal and guide you equally.
We not only complete the paper work but also share our experience.