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Partnership Firm Registration
A Partnership Firm is a business structure where two or more individuals come together to own, manage, and operate a business based on the terms and objectives outlined in a Partnership Deed. While the introduction of Limited Liability Partnership (LLP) has reduced the popularity of traditional partnerships, this structure remains relevant for businesses seeking low-cost formation, operational flexibility, and minimal compliance requirements.
Why Choose a Partnership Firm?
- Ease of Formation – Simple registration process with minimal documentation.
- Cost-Effective – Lower setup and operational costs compared to private limited companies and LLPs.
- Operational Flexibility – Partners have full control over decision-making without complex regulatory requirements.
- Ideal for Small Businesses – Suitable for micro and small-scale businesses with multiple owners.
Key Features of a Partnership Firm
- Unlimited Liability – Partners are personally liable for business debts and obligations.
- Minimum Two Partners – A partnership requires at least two individuals, with no maximum limit in an unregistered firm.
- Profit Sharing – The profit distribution is based on the terms defined in the Partnership Deed.
- No Mandatory Registration – While registration is not legally required, a registered partnership enjoys additional legal benefits.
Why Choose FILING365?
At FILING365, we simplify the Partnership Firm registration process and ensure compliance with all legal and regulatory requirements.
- Expert Legal Assistance – We draft a well-structured Partnership Deed ensuring smooth operations and dispute resolution.
- Quick & Hassle-Free Registration – End-to-end assistance with documentation and government filings.
- Tax & Compliance Support – Guidance on income tax, GST registration, and financial reporting for your firm.
- Strategic Business Advisory – Tailored financial and tax-saving strategies to optimize your business performance.