Basic Partnership Firm
A Basic Partnership Firm is a type of business entity where two or more individuals come together to carry out a business. The partners share responsibilities, profits, and losses based on the partnership agreement. It is one of the simplest forms of business structure in India, offering ease of setup and management.
Establishing a partnership firm is simple and cost-effective, making it an attractive option for small businesses.
The business responsibilities and decisions are shared among all the partners, making management so much easier.
Partners share the firm's profits according to the partnership agreement, ensuring fair distribution of earnings.
Our Process
Government-issued ID proof of all partners, such as Aadhaar, PAN, or Passport.
A copy of the partnership deed signed by all partners outlining the firm’s terms.
Current address proof of all partners, like utility bills, rent agreement, or driving license.
A Basic Partnership Firm is a business structure where two or more individuals agree to manage and operate a business according to the terms and goals set in a Partnership Deed.
A minimum of two partners is required to form a partnership firm. The maximum number of partners allowed is 20..
Registration of a Partnership Firm is not mandatory but is highly recommended as it offers legal protection and enables the firm to enforce contracts in court.
Key documents include the Partnership Deed, ID proof of partners, address proof of partners, and proof of the firm's business location.
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