Partnership Firm are the most popular forms of business organisations in India for the Partners Entrepreneurs. its need just only 2 Person to Start a Business.
Key Features of Partnership Firm -
1.Minimum 2 Person Required as Partners.
2.Partners share responsibilities and duties of the business.
3.More capital can be brought into the business.
4.Partners share responsibilities and duties of the business.
1.Unlimited liability.
2.Disagreement among the partners.
3.Can not raise funds easily from investors.
4.Less Features as Compare to LLP Formation with same cost of formation.
5.Maximum 20 Members are allowed.
1.Choose Partnership Firm Name.
2.Create Partnership Agreement or Deed with the help of MyOnlineCA Professionals.
3.Apply for PAN Card on the name of Partnership Firm.
4.Opening of Current Bank Account on the basis of PAN Card and Registered Partnership Deed.
ID and Address Proof of Partners like Pan Card/Passport/Voter ID/Aadhar Card/Driving License Copy of the Partners.
One Business Place Address proof :-
if Property on Rented :- Need Rent Agreement and NOC from Landlord.
if Property is own :- Need Electricity Bills or any other Address Proof.
Note : Business place and home place can be same of the Partners.
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