Partnership is an agreement in which entities, known as business partners, agree to collaborate in order to advance their mutual interests. All partnerships were established in India under the Indian Partnership Act, 1932. If your company is owned and managed by a few people, you want to take a look at formulating your business as a partnership.
There are two types of Partnership Firms, Registered and Un-registered Partnership Firm. It is not mandatory to register a partnership firm but it is always advisable to register it. A partner in an unregistered firm cannot file a suit against said firm or his/her partners to enforce any rights arising from the contract. But on the other hand, if the partnership firm is registered then every partner must have right to sue against said firm or his/her partner.
Documents Required for Registration
Documents of All Partners
Driving License/ Passport/ Voter's Identity Proof
Residential Address ProofBank statement/Electricity Bill/Mobile Bill
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