{"id":201,"date":"2021-05-13T12:42:54","date_gmt":"2021-05-13T07:12:54","guid":{"rendered":"https:\/\/total-sols.com\/blog\/?p=201"},"modified":"2021-06-09T18:10:45","modified_gmt":"2021-06-09T12:40:45","slug":"introduction-to-business-incorporation-series-2-partnership-registration","status":"publish","type":"post","link":"https:\/\/total-sols.com\/blog\/introduction-to-business-incorporation-series-2-partnership-registration\/","title":{"rendered":"INTRODUCTION TO BUSINESS INCORPORATION SERIES&#8230;2) PARTNERSHIP REGISTRATION"},"content":{"rendered":"\n<p>\n\nHi everyone. &nbsp;I am back now with the next in the series. &nbsp;Today, we will be dealing with how and why of a partnership business. &nbsp;What is a partnership? &nbsp;A partnership business can be between two persons or more and these persons will be called as partners. The partnership has to be registered with the Registrar of Firms. &nbsp;Stamp paper has to be procured as per respective states.&nbsp;<br>Details &amp; Documents required for registration are:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Details of Partners (name,address, email id &amp; phone no.)<\/li><li>PAN number of the Partners&nbsp;<\/li><li>Aadhar Card\/Passport\/Driving licence for address proof of all partners.&nbsp;&nbsp;<\/li><li>Photograph of all partners.&nbsp;&nbsp;<\/li><li>Rental agreement of the business place.&nbsp;&nbsp;<\/li><li>Name of the proposed firm&nbsp;<\/li><li>Proposed registered office address..<\/li><li>Nature of activity.<\/li><li>Specify the bank operation by stating any one or all jointly or any two or any one particular person.<\/li><li>Capital ratio, Profitability ratio,&nbsp;<\/li><li>Legal jurisdiction. &nbsp;\n\n<\/li><\/ul>\n\n\n\n<p>Submission of the partnership deed along with the application,  the registrar will create a certificate in 5 to 12 days. &nbsp;On receipt of certificate, before proceeding further, PAN has to be applied.&nbsp;<\/p>\n\n\n\n<p>&nbsp;&nbsp;&nbsp;<br><strong>Point to be borne in mind:<\/strong><br>\u2022 The partnership is an unlimited liability concept. &nbsp;That means in the eventuality of business losses, the partners\u2019 personal assets are also counted to repay the liability in case business cannot repay on its own.<\/p>\n\n\n\n<p><strong>Conclusion: <\/strong>&nbsp;In a nutshell, a partnership is good for small business or services where more than one person is involved as owners.<\/p>\n\n\n\n<p>So folks, the road is now clear to start a partnership form of business. &nbsp;Our next blog will feature another form of business, that is LLP(limited liability partnership)\u2026so watch out\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hi everyone. &nbsp;I am back now with the next in the series. &nbsp;Today, we will be dealing with how and why of a partnership business. &nbsp;What is a partnership? &nbsp;A partnership business can be between two persons or more and these persons will be called as partners. The partnership has to be registered with the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,62,80],"tags":[74,82,81],"class_list":["post-201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounts","category-incorporation","category-partnership","tag-company-registration","tag-partership-firm-registration","tag-partership-registration"],"_links":{"self":[{"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/posts\/201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/comments?post=201"}],"version-history":[{"count":3,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/posts\/201\/revisions"}],"predecessor-version":[{"id":257,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/posts\/201\/revisions\/257"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/media\/209"}],"wp:attachment":[{"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/media?parent=201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/categories?post=201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/tags?post=201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}