What is a Partnership?

A partnership is a business structure where two or more individuals come together to manage and operate a business. This form of business is ideal for collaborative ventures, pooling resources, and shared responsibilities.

Why Choose a Partnership?

  • Shared Responsibility: Distribute tasks and responsibilities among partners.

  • Combined Resources: Pool capital, skills, and expertise.

  • Ease of Formation: Simple agreement process.

  • Tax Benefits: Pass-through taxation, avoiding double taxation.

  • Diverse Perspectives: Benefit from different viewpoints and ideas.

Partnership Deed Drafting

Create a legally binding partnership agreement detailing rights, responsibilities, and profit-sharing

PAN and TAN Application

Obtain necessary tax registrations.

GST Registration

Ensure your partnership is compliant with Goods and Services Tax regulations.

Legal Advice

Provide guidance on legal aspects of running a partnership.

Trademark Registration

Protect your partnership's name and brand.

Accounting Services

Handle bookkeeping, financial statements, and tax filings.

Bank Account Opening

Assist in opening a current account in your partnership's name.

How to Get Started?

Contact Us: Reach out for an initial consultation.

Documentation: Prepare necessary documents like identity proofs, address proofs, and partnership deed.

Registration: We'll guide you through the registration processes for PAN, TAN, GST, and trademarks.

Bank Account: Open a current account in your partnership's name.

Launch: Start your partnership business with confidence!

What is a partnership deed?

A partnership deed is a legally binding agreement between the partners of a partnership firm. It outlines the rights, responsibilities, profit-sharing ratios, and other essential terms and conditions agreed upon by the partners. It helps in preventing disputes and provides a clear framework for the operation of the business.

How many partners can a partnership have?

A partnership can have a minimum of two partners and a maximum of twenty partners. However, for professional firms like law firms or accountancy firms, the maximum number can be more, as per their respective regulations.

Partnership Legal requirements

Drafting a Partnership Deed: This document should be signed by all partners and must include details like the firm's name, business address, nature of the business, partners' details, profit-sharing ratios, and more.

Registration (Optional): While not mandatory, registering the partnership with the Registrar of Firms provides legal recognition and certain benefits.

PAN and TAN Application: Obtain a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the partnership.

GST Registration: If your partnership's turnover exceeds the threshold limit, you must register for Goods and Services Tax (GST).

Bank Account: Open a current account in the partnership's name for financial transactions.

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