Partnership Firm Registration In Bangalore

The partnership firm is the most common types of the business structure. Our reputed firm has extended its wings in various places like Domlur, Yeshwanthpur, Yelahanka, Sarjapur, Peenya and M.G.road. The partnership firm is created by two or more people who join together to share profit and loss. They also join the resources for the mutual benefits. The partnership firm comes into existence and it is being governed by the use of partnership deed. A partnership firm is formed to carry on any kind of business. The profit can be shared in a determined ratio. The partners can take care of the business also on behalf of the other partners. Partners can transfer the shares to others only with the consent of the other partner.
Partnership firm registration in Bangalore requires two designated people to form the partnership firm. It does not require minimum capital. In the partnership firm formation no FDI is allowed. This means, no foreigner is allowed to do the business. The partnership firm can be quickly and easily formed when compared to any other business forms. There is chance of more tax saving in this business structure. It requires least compliance and disclosure. It is also expected that the partners entering into the agreement must be competent which means that the partners must not be minors. The partnership firm has unlimited liability. All the partners are liable for the loss of the firm together. The interest of the partners cannot get transferred to the other partners without their consent. Among the partners and firm there is Principal agent relationship. The agent can act on behalf of the firm.
Documents Required For The Partnership Firm Registration
  • Partnership deed which is duly signed by all the partners
  • PAN card of all the partners
  • Address proofs like Aadhaar card, Gas bill, Telephone bill or electricity bill
  • If the place is on rent then rental agreement and NOC are needed
  • PAN card of the company
  • Form No 1 which is duly filled court fee and stamp affixed on it.

Benefits Of Partnership Firm Registration

The partnership firm registration has lot of benefits. They are

  • Easy to form
  • The burden can be shared
  • There is possibility of better decision making
  • Ownership and control are combined
  • More business partner implies more capital and the skills can be combined.