If you’re venturing into starting a new business, you’re most likely to hear the terms accounting. Accounting can be a difficult task and a stressful task, especially for start-ups. What is accounting? The process of keeping a record…
A Partnership firm gets registered under section 58 of the Indian Partnership Act 1932 and it is done through the Registrar of Firms. A business entity that is controlled by an association of people is defined as a…
Monthly and Annual Compliances for a Partnership firm Partnership firms are required to maintain compliances like other corporate firms. A partnership firm needs to file an income tax return with the Income Tax Department each year. The annual…
Difference between registered partnership firm and Unregistered partnership firm In the terms of the Act Indian Partnership Act 1932, the minimal and basic criteria to start your business is to execute the Partnership deed. A partnership firm is…
Benefits of a Partnership Firm A partnership firm is a business entity that is controlled by an association of people with the sole purpose of making profits. In a partnership firm, the partners share the liability of profit…
A partnership is an understanding between two persons who agree upon sharing their profits and losses. A partnership firm is formed by an association of people and the purpose of formation is to make a profit from the…
The partnership firm is governed by the Indian Partnership Act, 1932. It is optional and completely depends on the discretion of the partners to register the firm. The registration of the partnership firm can be done anytime either…
What is a proprietorship firm and how to register a proprietorship firm A sole proprietorshipfirm is an unregistered firm. It is one of the most preferred business ownership. A single person is responsible for the assets, Liabilities and…
The LLP is a legal entity registered with the Registrar of companies under the Limited Liability Partnership Act 2008. It is being regulated by the Ministry of Corporate Affairs, a form of partnership is often found in firms…