Partnership Registration

Partnership firm registration is an agreement between two or more partners to carry a partnership business. Partnership registration is required when two or more parties sign a formal agreement via Partnership Deed to manage and operate a business and share both the profits and losses.

Partnership Registration is beneficial for small enterprises as the incorporation is simple and there are least regulatory compliances which eases the burden on partners.The Partnership business in India was introduced via partnership Act, 1932. Partnership Business is one of the oldest types of business entities in India. A partnership entity can be registered post its formation. As of now, there are as such no penalties for non Registration of a Partnership firm in accordance with the partnership Act. But unregistered Partnership firms are denied certain rights under section 69 of the Partnership Act, 1932 that mostly deals with the effects of non Registration of Partnership firms.

Incorporating and managing a Limited Liability Partnership is simple and uncomplicated in India. Minimum of two directors are required to register an LLP. LLP registration consists of LLP agreement that states the rights and duties of the partners. LLP has a limited liability i.e. one partner is not responsible for the negligence and misconduct of another partner. The idea of Limited Liability partnership was to provide a form of business that is easy to maintain and to assist owners by providing them with limited liability.

Only Public Limited Companies are allowed to get their shares listed on stock exchange in compliance with various laws and Provisions and Stock Exchange.

Public Limited Company has its Provisions in Section 2(76) of Companies act, 2013. Regardless to say most of the big companies in India are registered as Public Limited Company.

Partnership Registration is beneficial for small enterprises as the incorporation is simple and there are least regulatory compliances which eases the burden on partners.The Partnership business in India was introduced via partnership Act, 1932. Partnership Business is one of the oldest types of business entities in India. A partnership entity can be registered post its formation. As of now, there are as such no penalties for non Registration of a Partnership firm in accordance with the partnership Act. But unregistered Partnership firms are denied certain rights under section 69 of the Partnership Act, 1932 that mostly deals with the effects of non Registration of Partnership firms.

Incorporating and managing a Limited Liability Partnership is simple and uncomplicated in India. Minimum of two directors are required to register an LLP. LLP registration consists of LLP agreement that states the rights and duties of the partners. LLP has a limited liability i.e. one partner is not responsible for the negligence and misconduct of another partner. The idea of Limited Liability partnership was to provide a form of business that is easy to maintain and to assist owners by providing them with limited liability.

Only Public Limited Companies are allowed to get their shares listed on stock exchange in compliance with various laws and Provisions and Stock Exchange.

Public Limited Company has its Provisions in Section 2(76) of Companies act, 2013. Regardless to say most of the big companies in India are registered as Public Limited Company.