Partnership Firm Tax Return Filing - e-Filing Procedure A Partnership firm is a business structure where two or more persons are formed to conduct a business under one entity. Each person is called a “partner”, and collectively it is denoted…
Compliances for Partnership Firms in India Any company registered in India, including partnership firms, must adhere to compliances set by regulatory authorities. These obligations typically involve filing annual returns, maintaining proper accounting records, adhering to tax regulations, and fulfilling statutory…
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Dissolution of Partnership Firm The dissolution of a partnership firm marks the end of the association between its partners. This process can occur in two forms: the dissolution of the partnership, which terminates the relationship between all the partners, effectively…
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What is a Partnership Deed? A partnership deed, a partnership agreement, is a written document among business partners. It's a preferred choice among entrepreneurs due to its many benefits. However, running a partnership business involves planning and risk. Disagreements, financial…
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Who is eligible for partnership? Partnerships are popular business organizations where two or more individuals operate a business jointly to share profits and losses. However, not everyone can become a partner in a partnership firm. The Indian Partnership Act of…
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Is it compulsory to register a partner? Registration of a partner to a partnership firm is not mandatory in India. However, if a new partner joins the partnership, the partnership deed should be amended, and a supplementary agreement should be…
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What is the Registration of a partnership? A partnership is a popular business organization in India where two or more individuals come together to conduct business. While it is not mandatory to register a partnership, registering the firm provides various…
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Who cannot be a partner in a firm? A partnership firm is a business entity where two or more people come together to carry on a business and share its profits and losses. While partnerships offer several advantages, such as…
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Is an unregistered partnership deed valid in India? Yes, an unregistered partnership deed is valid in India. However, there are some important implications to consider. In India, a partnership firm registration can be formed by way of an oral agreement…
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Is it mandatory to form a partnership deed? It is not mandatory to form a partnership deed in India under the Indian Partnership Act of 1932. However, it is recommended to have a written partnership deed as it helps avoid…