What Process for Partnership Registration in Chennai


What Process for Partnership Registration in Chennai

 "Call Our Business Plan Experts at +91-72999-72500"


Partnership is one of the most common forms of business organisation in India. It helps pool the knowledge, expertise and resources of two or more people to achieve a common goal. This form of organisation shares responsibilities, profits and losses amongst the partners based on mutual agreement.

Registration of a partnership firm is not mandatory, however it is advisable to register a business as it provides a lot of benefits and protection to the firm in the event of any dispute or legal issues.

A legal document containing all the terms agreed upon by the partners is called a Partnership Deed. It specifies the rights and responsibilities of each partner, the ratio of profit/loss sharing, conditions for admission of new partners, etc. This document can be signed either before or after the formation of the firm. It is also helpful in avoiding disputes between the partners by putting the terms and conditions of the partnership on record.

A registered firm can claim tax benefits and obtain a PAN card for the firm. After getting the PAN, the firm will have to register its name with the Registrar of Companies/Department of Industries office. The first step to register a partnership firm is to decide on the name and get it approved by all the partners. This should be unique and must not resemble or copy the name of any existing firm or company. The Registrar of the department then verifies all the documents submitted by the firm and approves the application after payment of nominal fees and stamp duty.

 

Tel:+917299972500

info@filingpoint.com

Comments