Partnership Firm Registration

A partnership firm is a business structure where two or more individuals agree to share ownership, responsibilities, and profits.

Key Features:

• Shared ownership and control
• Unlimited personal liability
• Shared profits and losses
• Partnership deed or agreement
• Mutual agency relationship

Advantages of Partnership Firm:

• Easy to establish
• Shared risk and expertise
• Flexibility in decision-making

Disadvantages of Partnership Firm:

• Unlimited liability
• Potential conflicts among partners
• Complexity in decision-making

Documents Required for Registration:

• Partnership Deed: A written agreement between partners outlining terms, conditions, and responsibilities.
• ID Proof: PAN card, Aadhaar card, or passport of all partners.
• Address Proof: Registered office address proof (rent agreement, electricity bill, etc.).
• Business Proof: Business registration certificate (if already registered).