Partnership
Get Started – From Rs. 3,500/-
A partnership is a type of business entity in which partners (owners) share with each other the profits or losses of the business undertaking in which all have invested. Partnership is an association of two or more persons to share the profits of a business carried on by all the persons or any of them acting for all. The persons who form themselves into a partnership are individual called ‘partners’ and collectively known as the ‘partnership firm’ or ‘firm’. The name in which the business is carried on is called the ‘firm name’. However, law does not recognize the firm as a separate entity distinct from the partners composing the firm. The Partnership firm can be a registered or unregistered firm. The written agreement duly signed by the partners is known as Partnership Deed. It is the collection of all terms and conditions of the Partnership. AuditNeeds will draft the Partnership deed for you and assist in starting a registered or unregistered partnership firm.
Startup Process Time:
AuditNeeds can help in starting up a partnership concern by drafting the Partnership Deed in 4 to 6 working days.
Details Required for Partnership Registration:
- Partners Details – Name, age, address, designation, capital invested, remuneration of each partner, their profit / loss sharing ratio, rate of interest on capital, etc.
- Partnership Firm Details – Name, address, date of commencement, nature of business, Purpose, etc
- Any other details.
Advantages of Partnership
- Easier to form, manage and run the concern.
- Higher Capital availability.
- Better borrowing capacity.
- Shared responsibilities.
- Less Government regulations.
- Wider pool of knowledge, skills, and network.
- Better and easier decision making.
Choose the Best Entity
| Partnership Firm |
Proprietorship | One Person Company | Limited Liability Partnership | Private Limited Company | Public Limited Company | |
|---|---|---|---|---|---|---|
Governed By |
Indian Partnership Act 1932 | None | Companies Act 2013 | LLP Act 2008 | Companies Act 2013 | Companies Act 2013 |
Ownership |
2 to 20 Partners | One Person | One Person | 2 to any number of Partners | 2 to 200 shareholders (Family & Close Friends) | 7 to any amount of Shareholders (Public) |
Liability |
Unlimited | Unlimited | Limited | Limited | Limited | Limited |
Growth Prospects |
Moderate | Low | Low | High | High | Very High |
Recommend For |
Family & Friends Business | Small traders & manufacturers | Solo Promoters | Professional Service Firm | Start ups and growing Companies | Large Scale Business |
Income Tax Rate |
30% | Slab Rate | 30% | 30% | 30% | 30% |
Statutory Compliance |
Low | Very Low | Moderate | Moderate | High | Very High |
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Partnership Registration
Get started from Rs.3,500/-
Customer Review
"Extremely supportive in starting up our new concern and its subsequent growth. We recommend AuditNeeds for all Startups who are looking to grow their business."
Robert. Y
Director | SRS Diamond Tools Pvt Ltd
"Amazing support with timely advices that is of high standards and relevant to our business growth. AuditNeeds is very personable and they handle all my business needs"
Osman Abdul Razak
Director | Bespoke Label Pvt Ltd
"AuditNeeds provided the best financial expertise which assisted in establishing controls, streamlining processes and made the year-end audit run smoothly."
Karthik Selvaraj
Director | SK Capital City Makers Pvt Ltd
