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A partnership firm is one of the easiest forms of business organizations to set up. Here’s everything you need to know about registering a partnership firm and the required documents.
The first step is selecting a unique name for the partnership firm that is not already in use or trademarked by another business.
The Partnership Deed is a document outlining the rights, responsibilities, profit-sharing ratio, and other terms between the partners.
A permanent account number (PAN) for the partnership firm must be obtained to comply with tax regulations in India.
Registration of the partnership firm can be done with the registrar of firms by submitting the partnership deed and other required documents.
If your partnership firm engages in business with taxable turnover, it is mandatory to obtain Goods and Services Tax (GST) registration.
Certain businesses may require specific licenses and permits to operate legally based on the nature of operations.