Partnership-Registration

Partnership is defined by the Indian Partnership Act, 1932, as ‘the relation between persons who have agreed to share profits of the business. A partnership is an agreement between two or more people to finance and operate a business.

Benefits of Partnership

 Your business is easy to establish and start-up costs are low
 Partnership provides more capital for the business
 Provides greater borrowing capacity
 Partnerships bring the benefit of “economy of scale” with the sharing of both responsibility and funding requirements.
 Prospective employees may be attracted to the business if given the incentive to become a partner.
 A partnership may benefit from the combination of complimentary skills of two or more people. There is a wider pool of knowledge, skills and contacts.
 Partnerships can be cost-effective as each partner specializes in certain aspects of their business.

The requirement to register the partnership Firm or Company

 ID proof of all the Partners – Voter ID or DL or Passport.
 One Partnership Deed between the partners which show the share of each partners.
 One electricity bill or water bill of office premises.
 NOC from the landlord of the premises.
 Name of the company and nature of bossiness.

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