A partnership firm is a business structure where two or more individuals work together by sharing responsibilities, profits, and liabilities according to a partnership agreement. It is an ideal option for entrepreneurs looking for a simple and cost-effective way to start and manage a business.
To establish a partnership firm, draft a partnership deed, obtain a PAN for the firm, register the firm with the Registrar of Firms if applicable, and complete GST or other required registrations based on your business activities.
