what is partnership deed state at least five important points from account of youth which must be incorporated in a partnership deed
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What is Partnership?
A Partnership Firm is a business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in the Partnership Deed. It is an important document that outlines in detail, the powers, duties, rights, and responsibilities of all the Partners.
Convert: sole proprietorship firm in to Partnership Firm
Whats is Partnership Deed?
The documents in which the respective rights and obligations of the partners are written is called the partnership deed. It may be written or oral. However, practically Oral agreement does not have any value for tax purpose and there for partnership agreement should be written.
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