Partnership Services offered by Consultaxx:
- Deed Drafting of Partnership as per the agreement.
- Making of Registered Partnership Firm.
- Making of Unregistered Partnership Firm.
We at Consultaxx have a digital process of registering deeds.Partners do not need to visit any office unless the signing of documents.Deed formation,PAN Card Application and TAN Application whole procedure is completed by Consultaxx in only 7 to 10 days.
Partnership Firms are very easy forms to start business in 2 or more persons.Unlike proprietorship business, partnership firms have their own identity and get a seperate PAN and become a seperate entity.
The firm can be made in 2 ways:
1.Registered Partnership Firms - These firms deed are made on stamp papers(stamp papers value depend upon capital invested in the firm) and signed by all the partners.The deed contains all the conditions of nature of business, partner details, capital invested, bank operation rights etc.This firm is then registered in Register of Firms office by submitting all the documents and other online forms. The firms get registered in ten to fifteen days, but the certificate of registration comes after around one year, but for the time being the firm is considered as registered and is valid in the court of law too.
2.Unregistered Partnership Firms - The procedure of forming these firms is same , only that they are not registered with the registrar.They have same standing of Partnership Firm but if some dispute happens then the same has less standing in court of law than the registered firms.These firms documentation can take place in 2 to 3 days.
Advantages of forming a Partnership Firm:
- It is easy to start and have their separate legal entity.
- The name for the business can be different than of the partners.
- PAN Card and other legal documents are formed in the name of firm and hence in the eyes of Income tax also it becomes a different entity.
- Annual Filling is not required like the companies require under companies act.