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MCA - Partnership Firm
What is a Partnership Firm
A Partnership Firm is a business structure where two or more people join together to run a business and share profits. It is one of the most common and easy forms of business in India.
Why Register a Partnership Firm
Gives legal identity to the business
Builds trust with clients, vendors, and banks
Helps in opening a business bank account
Provides proof of partnership and ownership rights
* Useful for resolving disputes among partners
Key Points about Partnership Registration
Governed by the Indian Partnership Act, 1932
Minimum 2 partners required (maximum 20)
Partnership Deed is the main document that defines roles, profit sharing, and rules
Registration is optional but highly recommended for legal protection
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