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Partnership Registration

Registering a partnership legally establishes your business relationship and protects all partners' interests.

Benefits of registered partnership in India – Advantages of formal partnership deed, legal recognition, easy business expansion, tax benefits, and clear profit-sharing for business partners

Registered Partnership

The firm is registered with the Registrar of Firms, which provides legal recognition and protection under the Partnership Act.

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Limited Liability Partnership (LLP)

The firm is not registered but still operates legally. However, it does not have certain legal rights, such as the ability to sue third parties.

Benefits of LLP registration in India – Advantages of limited liability protection, flexible business structure, tax benefits, easy compliance, and enhanced credibility for entrepreneurs and business partners

Benefits of Registering a Partnership Firm

Legal Recognition

Registered firms can enforce contracts and take legal action if required.

Better Credibility

Banks and financial institutions prefer registered firms for loans as they are more reliable.

Dispute Resolution

Registered firms have access to legal remedies in case of disputes.

Ease of Operations

Registered partnerships can easily open bank accounts and enter into contracts.

Documents Required for Partnership Registration

For Partners:

PAN card
Aadhaar card
Address proof (utility bill, voter ID, passport, or driving license)
Passport-size photos

For Firm:

Partnership deed
Address proof of the firm (electricity bill/rental agreement)
PAN card of the firm

Exemptions for Partnership Firms

No mandatory audit requirements for firms with a turnover below the prescribed limit.
No requirement for a minimum capital investment.
Tax benefits under the Income Tax Act for certain expenses.

Exemptions for partnership firms in India – Tax exemptions, legal benefits, simplified compliance, and special provisions for small and registered partnership firms, including MSME and GST exemptions

Frequently asked questions

Whatsapp us to help you in registering the partnership firm

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