Simple and short answer for registration of partnership firms
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Answer:
As per the Indian Partnership Act registration is not compulsory. But, registered firm enjoy some legal benefits.
Explanation:
Partnership firm becomes legal when its registered.
Registration of the Partnership ship firm is provided Under section 58.
A Partnership deed is prepared which contains the name of the partnership firm, names and addresses of the partners, partners capital sharing and profit sharing ratio, nature of work whether active, sleeping .etc & other terms and conditions.
The deed is registered and based on the deed PAN number is obtained in the name of Partnership firm.
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registration of partnership firm
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