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info@taxcenterindia.com
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Partnership Registration
When 2 or more person Join their hands together to start a business they need to form a Partnership or LLP.
Basic difference between a Partnership and LLP is that the former is governed by Partnership Act, 1932 only while the later is governed by Partnership Act as well as Limited Liability Act, 2008 also.
In a partnership firm, partners have unlimited liability while in the Limited Liability Partnership all the partner's liability is limited to the extent of Capital they have committed to contribute
Documents & Details Required for Partnership Firm Incorporation
- PAN & Aadhar of All Partners
- Firm Name
- Date of Commencement
- Place of Business
- Partner's Rights and Liabilities
- Profit Sharing Ratio
- Partner's General Rights & Duties
- Partner's Specific Rights & Duties
Questions? You’re covered.
We always prefer LLP over the normal Partnership as Partner's have limited liability in LLP.
Yes as a Firm has separate legal entity over it's partners. Firm need to apply for PAN separately.
No ROF registration is not compulsory but a registered Partnership Firm enjoys legal benefits over the unregistered Firm and so it is advisable to get your firm registered with Registrar of Firm.
