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What exactly is a partnership firm?

A partnership firm is an organisational form in which two or more people own and run a business in accordance with the conditions and aims outlined in a formal agreement called a Partnership Deed. A group of people have come together for financial gain to own, manage, and control it. The formation of a partnership is simple and common among unregulated small and medium-sized enterprises.

Compliance required for Partnership Firm

  • GST Registration
  • GST Return
  • Accounting
  • Tax audit
  • IT Return
  • TDS Return

Pros of Working in a Partnership Business

  • No Minimum Capital
  • Easy To Form
  • Large Resources
  • Scalability
  • Sharing Risks
  • Better Tax Planning

Check CIBIL Score Now

CIBIL Score is a three-digit numeric summary of your credit history. The score is derived using the credit history found in the CIBIL Report (also known as CIR i.e Credit Information Report).
A CIR is an individual’s credit payment history across loan types and credit institutions over a period of time


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