Partnership Firm

Partnership Firms in India are administered by the Indian Partnership Act, 1932. According to Section 4 of the Indian Partnership Act:- "Partnership is the connection between people who have consented to share the benefits of a business carried on by all or any of them representing all".

1. Partner :

• Minimum 2 Partners are required for starting a Partnership Firm.
• Partners contribute to capital of the firm and take active participation in the day to day functioning of the firm, hence they are responsible or liable for any activities of the Partnership Firm.

4. Registered Office:

• Any place can be made as the registered office of the Partnership Firm even the residential place can be used as the registered office of the Partnership Firm.

5. Registering Authority:

• Registrar of Firms.

6. Required Documents:

• Proof of Registered office address (Conveyance/ Lease deed/Rent Agreement/Maintenance Bill).
• Copy of the utility bills of the registered office (Electricity Bill/Telephone Bill not older than two months).

Partners

• PAN Mandatory- Indian National / Passport – Foreign National
• Proof of Address (Aadhar / Passport / Electricity Bill/Bank Statement/Telephone Bill/Mobile Bill not older than 2 months)