Register your company today
Trusted by best 100+ companies
Simple and inexpensive to establish
Flexibility in management structure
access to capital via partner contributions
Clear profit-sharing arrangements
At Plan B Consultancy, we understand the complexities of registering a Private Limited Company (Pvt Ltd) in India. Our experienced team of legal and financial consultants can guide you through the entire process, ensuring a smooth and efficient registration. This includes the following
Free Consultation
Discuss your business goals and receive expert advice.
Company Name Availability Check
Ensure your desired company name is available.
Partnership Deed Drafting
A well-drafted partnership deed is crucial for a smooth partnership considering all factors
Guidance on Legal and Tax Implications
We can provide general guidance on the legal and tax implications of running a partnership firm.
Liaison with Government Authorities
Ensure smooth communication with the Ministry of Corporate Affairs (MCA).
PAN and TAN Application
Assist with obtaining PAN and TAN for your company.
Post-Registration Compliance
Guide you on ongoing legal and tax compliance requirements.
Banking Partners
A partnership firm is a popular choice for businesses in India where two or more individuals come together to:
Establish a business: They share ownership, profits, and losses according to a pre-determined agreement.
Operate the business: Partners contribute their skills, knowledge, and resources to run the day-to-day operations.
No, registration under the Indian Partnership Act, 1932 is not mandatory. However, registration offers several benefits like improved legal standing, easier access to loans, and potential tax benefits (depending on the registration type).
The two most common options are:
There's no minimum capital requirement, but you need a minimum of two partners (one resident Indian for Shops and Establishments Act). The specific documents required depend on the registration type (refer to previous answer for details).
Enhanced legality, easier access to resources, streamlined processes, and potential tax benefits (depending on the registration type).
Unlimited liability for partners (personal assets at risk for business debts) and potential dissolution risks due to disagreements or partner incapacitation.
Feature | Partnership Firm | Limited Liability Partnership (LLP) | Sole Proprietorship |
Formation | Relatively simple | More complex than partnership, requires filing with MCA | Easiest to establish |
Minimum Partners | 2 | 2 (at least one designated partner) | 1 |
Liability | Unlimited | Limited liability for partners (personal assets protected) | Unlimited |
Management Structure | Partners manage jointly | Designated partners manage, other partners can contribute | Sole proprietor manages |
Profit Sharing | As per partnership deed | As per LLP agreement | Profits belong to sole proprietor |
Registration | Optional | Mandatory | Not mandatory |
Suitability | Businesses with shared ownership and expertise | Businesses seeking limited liability protection | Small businesses with one owner |
GST Registration is compulsory if an annual turnover of a Company exceeds Rs. 40 lakhs (for goods) & Rs. 20 lakhs (for services).
The Right Advice is Priceless, we know that better than anyone. Talk to our experts to get clarity Company registration process.
"Plan B has been our trusted financial consultancy and advisory partner for over three years. They have helped us with strategic planning, tax optimization, investment management, and more. They have a deep understanding of our business and always deliver high-quality and timely solutions."
Squirrel Media LTD
"We are very happy with Plan B's services. They have a team of experienced and qualified professionals who provide us with customized and comprehensive financial advice. They have helped us improve our cash flow, reduce our costs, and increase our profitability. Plan B is the best choice for any business looking for financial consultancy and advisory."
Patna Blues
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