Planning to incorporation of a Partnership firm? Know types of partnership firms, steps and documents required to register a Partnership firm.
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The registration of Partnership Firm is voluntary as provided under Indian Partnership Act, 1932. However, the registration allows higher creditability along with the ease of expansion or conversion of business at future date.
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Company and Partnership firm are different type of organisations having distinct requirements. The requirements with regards to minimum number of Members.
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The concept of Limited Liability Partnership has been brought into by way of enforcing Limited Liability Act, 2008. The idea is to get the flexibility of the Partnership and Benefits of Corporate Body like Company to bring together under one structure of organisation.
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Limited Liability Partnership is an organisation structure introduced with an aim of combining the benefits of a corporate entity Private Limited Company and Partnership Firm.
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A firm can be registered as Sole Proprietorship or Partnership Firm where the process of registration is different in both the cases.
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Limited Liability Partnership is a new form of business and a really convenient form of business. It is more advantageous for the small business firms and the start-up's to start or carry out their business with the least risk and convenience.
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A private company is a company registered under Indian Companies Act, 2013 and Incorporated after following the procedure prescribed under the Act. The status of Private Limited Company is given by the law under which it is incorporated and registered under the Act.
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You need to submit the online application of Copyright with Copyright Ministry i.e. http://copyright.gov.in/Default...., which will provide the Copyright registration after going through the examination process.
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The term conversion used for this particular instance is not correct as the Sole Proprietorship Firm is an unregistered Business Entity, which is not governed or controlled by any of law in India.
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VAT is Value Added Tax, which was levied on sale under respective State Act. However, the concept of VAT is no more in existence and is sub-merged in GST Act, which stands for Goods and Service Tax.
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