Easy to start:- A partnership firm is easy to start without any legal procedure and registration just needs to make a deed for starting the firm. Its registration is also not useful deed is info for doing business. The Registrar of Firms is responsible for registering partnership firms.

Name of Firm:- There is no limitation for name finalisation just you need to finalise a unique name for your business which will help you in further for making a good brand in the market. We recommend you at the time of firm registration also take the trademark for your firm name which will save delicacy in the market after registration.

Annual compliances:- There is no audit required same like LLP in a firm also. Just you need to file Income tax in the department within a financial year of business. There is also no any provisions for audit and tax audit before 2 crore turnover.

Unlimited Ownership:- You can add any number of partners in a partnership firm there are no limitations for partners in a firm. Responsibilities and decison making controls are also not limited maximum time partners are deciding new things by mutual understanding.

• What is a Partnership?

  A partnership is an agreement between two or more people to share the profits of a business. The business can be carried on together by all the partners or any one partner representing the others. A partnership can be for a fixed period of time or it may be limited to a specific project or it may be dissolved at will.

• What are the basic requirements to form a partnership?

  Three basic requirements to form a partnership firm:
          There must be an agreement between two or more persons.
          The agreement must be to share the profits of the business.
          All partners together, or any one, on behalf of the others, must carry on the business.

• I am not a citizen of India. Can I be a partner in an Indian firm?

  The Partnership Act does not prohibit a non-citizen from joining an Indian partnership firm, subject to necessary clearances and permissions from satisfactory authorities in this regard.

• Who can be partners?

  Partners must be major (above the age of 18), should be sane and should not be disqualified by law from entering into a contract.

• Is a deed of partnership necessary?

  It is not compulsory for a partnership deed to be in writing. Partnerships can also be oral.

• What are my duties as a partner in a firm?

  Duties of a partner are:
          Carry on the business.
          Be just and faithful to each partner.
          Disclose true accounts of the firm.
          Furnish full information of all things affecting the firm.