PARTNERSHIP FIRM REGISTRATION

The partnership is one of the most famous business organizations today. It is easy to form with less compliance as compared to other organizations (for example a company). A partnership firm is formed when two or more people come together to form, run and operate a firm. Any Partnership can be incorporated by forming a partnership deed. Every partnership requires partnership deeds in which the roles, duties, profits, and purposes of every partner are decided and hence is one important document while forming a partnership firm. To incorporate a partnership firm is to legalize it and by making a partnership deed the Partnership Firm thus gets legalized.

Advantages of Incorporating a Partnership:

Incorporating a partnership firm is very beneficial as it provides the partners with certain rights to the partnership. Following are a few benefits of incorporating a partnership firm:

1. Once registered every partner gets the right to use any other partner or the partnership firm for enforcing his rights as to the partnership deed.

2. Once registered the partnership firm gets the Right to sue any third party to enforce a right. However, any third party can sue the firm irrespective of being unregistered.

3. Once registered the firm can claim set-offs or other proceedings to enforce a right against any third party.

How to register a Partnership Firm?

The registration process is available online mode. An application form has to be filed with the Registrar of Firms of the State in which the Firm is instituted with the prescribed amount of fees and have to be submitted to the office of the Registrar of the State. The application has to be signed by all the partners of the partnership firm.  After the documents are checked thoroughly, the Registrar makes sure that all the criteria are fulfilled by the applicant in the application and issues the “Certificate of Registration”.

The process of incorporating a partnership can be a complicated procedure and completely document-based. Therefore it is very important to consult an expert while making an application. YouTax consists of a team of highly experienced financial consultants, who will make sure that your partnership firm is incorporated within no time and in a hassle-free manner. 

We at YouTax, with the help of our reliable consultants, have incorporated various partnership firms according to the customer's demand and have provided satisfying results to our customers. All you have to do is contact us on our contact number +(91)8421447373 or reach us through our website youtax.in