Partnership
Definition |
Formation |
Types of partnership |
Registration |
Advantages |
Disadvantages |
Documents required |
Taxation |
FAQs |
Formation
How partnership business is being formed
Contract, Contract and only Contract (Also called partnership deed)
Sharing of profit
Conducting the business
In determining whether a group of persons is or is not a firm, or whether a person is or is not a partner in a firm, regard shall be had to the real relation between the parties, as shown by all relevant facts taken together.
The sharing of profits or of gross returns arising from property by persons holding a joint or common interest in that property does not of itself make such person partners.
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".
Articles you may be interested in
