What are partnership business, some key features, and important documents for partnership registration?

Partnership business
It is a nature of business where two or more two peoples share ownership, as well as the responsibilities for managing their business also the income or losses, are shared by the business owners.

Key-Features as a partnership business:

• A minimum of 2 and a maximum of 20 partners are required to start a partnership firm.

• Details should be required of each partner to prepare a partnership deed applying for partnership company registration.

• A partnership deed should get registered by the government authority before applying to a partnership company.

• Apply for pan as the name of Partnership company.

• Open a bank account as your business name and deposit your share capital to start your dream business.

• Get registered as “Startup”

Necessary documents required

• Details of Current Bank Account

• GST registration

• Additional documents in case of registration

• KYC of all partners

• Details of the firm (like Address Proof, etc.)

• Partnership deed

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