Partnership

Definition

Formation

Types of partnership

Registration

Advantages

Disadvantages

Documents required

Taxation

FAQs

Documents required

PAN of partners
Address proof of partners: Adhaar or Driving license or passport or voter ID card
PAN Card of Firm
Address proof of firm: Rent agreement with any utility bill and NOC from the landlord
Partnership Deed
Additional document If registering with Registrar: an affidavit certifying that the terms mentioned in the partnership are true and correct.

Definition

Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all

who have entered into a partnership with one another are called individually, "partners" and collectively "a firm".

A minor can be admitted to share only the profits of a partnership.

the name under which their business is carried on is called the "firm-name".