Although Partnership Firms don’t have a separate legal entity, for the purpose of Income Tax, they are treated as different from their partners. Partnership Firms whether registered or unregistered are therefore required to register with the Income Tax Dept. and...
Partnerships in India are governed by the Indian Partnership Act, 1932 and as per this act a partnership deed may be registered or unregistered. However, there are certain benefits of registering a partnership firm which have been explained in this...
Partnership and Proprietorship are the 2 most popular forms of business organisations in India. The reason why these 2 forms of organisations are so popular is because they are relatively easy to set-up and the no. of statutory compliance required...
The most common forms of business organisational structure in India are Proprietorship, Partnership and Company. Proprietorship form of organisation is used when there is a single owner of the business. When the no. of owners is more than 1, Partnership...
Persons who have entered into partnership with one another to carry on a business are individually called “Partners“; collectively called as a “Partnership Firm”; and the name under which their business is carried on is called the “Firm Name” A...
A new trend that has been observed of-late is that more and more entreprenuers have started opting for Limited Liability Partnerships. But What is a Limited Liability Partnership? Before answering this question we’ll explain you reasons behind the emergence of...