Know What Partnership in a Business Entails

It’s much simpler to register or unregister a partnership. AapkaTax offers partnership registration from Rs.5899/-. Partnerships are considered ideal particularly in small business in the unorganized sector which deals with multiple promoters at once.

What Does Partnership Stands for in a Business?

Primarily, a Partnership Firm stands for a very famous type of business preamble for businesses that are basically owned, managed and controlled by more than one person, that is, an Association of People. They are much easier to get started with and are quite popular amongst the small and medium sized businesses in the unorganized sectors. Yet, Partnership Firms are now losing their prevalence quickly due to the coming of Limited Liability Partnerships in India, which offers many more advantages in business.

Basically, there are two types of Partnership firms, that is the registered ones and the un-registered Partnership firms. Also, it is not mandatory to get a Partnership firm registered; but it is always recommend as it adds on many advantages. Partnership firms are made by drafting a Partnership deed amongst the Partners. AapkaTax can help you easily start a registered or un-registered Partnership firm in India.

Documents Required to Register for a Partnership Firm

Identity and Address Proof
Identity and address proof of all directors and shareholders of the company will be required for registration. Also for, Indian nationals, PAN is mandatory. For foreign nationals, an apostilled or notarized copy of passport needs be submitted compulsorily. All documents submitted must be valid and the residence proof documents such as bank statement or electricity bill must be less than 2 months old.

Registered Office Proof
The companies must necessarily have a registered office in India of which they need to provide a recent copy of the electricity bill or property tax receipt or water bill. Also, along with the utility bills, a copy of the rental agreement or sale deed and a letter from the landlord with his/her consent to use the office as a registered office of a company needs to be submitted.

Hence, these are the mandatory documents:
1. Identity proof of partners
2. Address proof of partners
3. Address proof for registered office in India
4. Signed Partnership Deed