Partnership Firm

Start Now

Partnership Firm

Partnership Firm is type of agreement between two or more partners in which one or all person takes decisions for whole organization. To start a partnership firm in india you will need help of professionals for all the legal requirements for the registration of partnership firm in india. You can leave all the legal work on the experts of Go Company and pay attention to the core part of your partnership firm without any problem.

Salient Features

  • In Partnership Firms, the relationship between the partners forming the Partnership Firm is contract based.
  • In Partnership Firm, the profit will be shared among the partners.
  • The contribution of the capital for the Partnership Firm is also between the partners.
  • There should be at least two or more persons to form a Partnership Firm.

Pros

  • For Partnership Firm, no annual compliances are required to be done except the income tax return.
  • For a Partnership Firm, it’s not compulsory to be registered.
  • To start a Partnership Firm is easy.
  • The partners in the Partnership Firm brings the new ideas and skills to the business.
  • The interest of the partners in the Partnership Firm is protected against any fraud.
  • There is flexibility in the operations in the Partnership Firm.
  • Larger Resources are there in a Partnership Firm.
  • Partnership Firm have a better management.

Cons

  • Partnership Firm have unlimited liability.
  • There is no legal status of Partnership Firms.
  • Partnership Firms cannot raise capital easily.
  • To transfer ownership in a Partnership Firm is not easy.
  • If any partner in the Partnership Firm dies, resigns or become bankrupt then partnership dissolves.
Compare Partnership Firm
with other entities

Process to Set up a Partnership Firm

Packages:

Select from the following packages :

  • For Basic
    • 1. Draft Partnershi...
    • 2. Opening of bank ...
    • Rs. 5,499
  • For Standard
    • Basic +
    • 1. Registration of ...
    • Rs. 8,999
  • For Premium
    • Basic + Standard +
    • 1. Service Tax Regi...
    • 2. Any Other licens...
    • Rs. 14,999

Request Package or Query