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Benefits of Partnership Firm Registration

  • Legal Status: Partnership firm gets a legal status, making it easier to conduct business.
  • Limited Liability: Partners’ personal assets are protected in case of business liabilities.
  • Tax Benefits: Partnership firms can claim tax deductions and exemptions.
  • Easy Transfer of Ownership: Partnership firms can easily transfer ownership.

Partnership Firm Registration Process

  • Choose a Business Name: Choose a unique business name.
  • Prepare Partnership Deed: Prepare a Partnership Deed outlining the terms and conditions of the partnership.
  • Register with Registrar of Firms: Register the partnership firm with the Registrar of Firms.
  • Obtain PAN and TAN: Obtain a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
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Documents Required

  • Partnership Deed: A notarized Partnership Deed.
  • Identity Proof: PAN card, Aadhaar card, or passport of all partners.
  • Address Proof: Utility bill, rent agreement, or property documents of the business.
  • Business Proof: Business plan, financial statements, or other business documents.

Types of Partnership Firms

  • General Partnership: All partners are equally liable for business debts.
  • Limited Partnership: Partners have limited liability, but at least one partner must have unlimited liability.
  • Limited Liability Partnership (LLP): Partners have limited liability, and the business has a separate legal entity.
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Benefits of Partnership Firm Registration with Padmajothi Consultancy Services

  • Expert Guidance: Get expert guidance on the partnership firm registration process.
  • Timely Registration: Ensure timely registration and avoid delays.
  • Compliance: Ensure compliance with partnership firm registration regulationsĀ andĀ guidelines.