Business Registration As Partnership Firm Home Partnership Firm

Partnership Firm
The partnership business includes any kind of trade, occupation and profession where two or more persons come together to form a business and divide the profits in an agreed ratio. A partnership firm is easy to form with fewer compliances as compared to companies or LLPs.

The Indian Partnership Act, 1932 governs and regulates partnership firms in India.

Two heads (or more) are better than one
Business is easy to establish and start-up costs are low
More capital is available for the business
Greater borrowing capacity
High-caliber employees can be made partners
Opportunity for income splitting resultant tax savings
Limited external regulation
Easy to change the legal structure later if circumstances change.