Benefits of Partnership Firm Registration
To start a new business in India one needs to decide what type of business form they are looking for such as the sole proprietor, partnership, company, etc. This is an important criterion as different forms of business have different requirements and also have to offer different benefits to the owners. Among different forms partnership type of firm are quite common as it brings in extra managerial support, capital infusion, and skills. In India, the partnership firms are governed by the Indian Partnership Act, 1932 and as per this act, a partnership firm can either be registered or unregistered. It solely depends upon the partners’ decision whether to go for registration or not. A partnership venture success depends upon the mutual relation and trust among the partners. However, it is not always the case that the partners having good relations will be having same in the future too. The future is uncertain and thereby it is highly recommended by experts to go for partnership ...