Partnership Company registration in India is an arrangement between two or more people to conduct business operations together. In this type of partnership, profits and liabilities are shared among members, making it a common choice for small businesses and entrepreneurs.
A business established by two or more partners with the goal of achieving a profit is called a partnership firm registration. There are benefits to registering a partnership firm. The legal document used to establish a partnership company registration is known as a partnership deed.
The Indian Partnership Registration Act of 1932 is the primary governing partnership registration law in India. A partnership, as defined by the law, is a union of individuals who have consented to divide the profits from a company that they all, or any of them, act for a banking business. A partnership firm registration can only have a maximum of 10 members, whereas for other enterprises, it can have a maximum of 20 members.
Individuals residing in India are eligible to become partners in a Partnership firm. Foreign individuals interested in establishing business operations in India are advised to opt for a Private Limited Company.
Yes, it is possible to convert a partnership firm into a Private Limited Company. GHR Advisory can guide you through the conversion process for a seamless transition.
GHR Advisory facilitates the application process for the PAN card of your Partnership firm, ensuring a smooth and efficient procedure.
