There are two types of Partnerships firms :
- Registered Partnership Firm
- Un-registered Partnership firm
Note : It is not compulsory to register a Partnership firm; however, it is advisable to register a Partnership firm due to the added advantages.
A Partnership is easy to form as no cumbersome legal formalities are involved. Its registration is also not essential. However, if the firm is not registered, it will be deprived of certain legal benefits. The Registrar of Firms is responsible for registering partnership firms.
Benefits
- Easy to start
- Separate legal entity
- Easy to transfer ownership
Partnership Deed, PAN, TAN
How to register a company
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