Partnership Firm Registration

Partnership Firm Registration

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Business startups in India

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a) Partnership registration is a two or more persons decide to set up the business and form a relationship to share the profits of the business which is governed and regulated by agreement formed between them.
b) It is one of the most popular business structures in India with the legal agreement between the partners.
c) Partnership firms are governed by the Indian Partnership Act, 1932. Rights and duties of partners are governed by this Act.
d) The partnership agreement is also called as partnership deed, which contains names of the partners and their addresses, the partnership name, the date of commencement of operation of the firm, any capital invested by each partner and profit-sharing matrix, rules and regulations to be followed for intake of partners or removal.
e) A partnership firm must have minimum two partners, we can include up to 10 partners in the banking business, while those engaged in any other business can include up to 50 partners.
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