What is Partnership Firm?

According to the Partnership Act, 1932, "Partnership" is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.

Persons who have entered into partnership with one another are called individually, partners, and collectively a firm; the name under which their business is carried on is called the firm-name.

Advantages

• Easy to form
• Flexible in operation
• Less compliance
• Relatively inexpensive

Required Documents

• Address & ID proof of Director & Nominee
• Address proof of registered office
• Address proof of proposed registered office for registration of the partnership firm

Process

1. Initial level discussion between the Promoters and the FirstMan Team
2. Ascertaining documents required and their availability
3. Preparation and signing of documents
4. Preparation of Partnership Deed
5. Registration of Partnership Firm (i.e., Form C)
6. Company PAN & TAN