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In case you wish to open a Partnership firm, one should first know that there are two type of partnership firm: 1) Registered Partnership Firm and 2) An Unregistered Partnership Firm. Both of them are simple form of business with minimum compliance. To start an Unregistered Partnership Firm, the process is very simple one need to draft the partnership agreement including all such activities of business, right and liabilities of the partners and many more clauses as per need. Once the deed is drafted one needs to apply for a PAN of the firm and open a current bank account in the name of the firm, afterwards the business can be started easily. To carry on business as a Registered Partnership Firm the process will remain same but the only difference is partner's needs to register their partnership firm with the REGISTRAR OF FIRMS of their concerned state. This type of firm has an advantage that firm can sue anybody in case of any discrepancy with any other person or among the partners. If the firm is not registered one needs to solve the matter out of the court with the help of Arbitrator or mediator. Further, a flat rate of 30% tax is levied as Income Tax on both type of partnership firm and any other tax is levied as applicable based on the limits as provided. To establish the partnership firm in India, get in touch with experts at 1800 313 4151 or visit us at http://www.legalwiz.in/partnersh...

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. The Partnership Firm is registered with the Registrar of Firm (RoF). Here, the registration procedure varies from state to state along with time for issuing registration certificate. To register a partnership firm in Maharashtra, following documents are required to be submitted: PAN card copy of Partners Address Proof of Partners Original Partnership Deed signed by all the Partners Form No. 1 (Application for registration under Partnership Act) Affidavit declaring intention to become partner Rental or lease agreement of the Business Place Utility Bill as address proof of Business Place Any other documents, as required by the registrar. You can refer to our blog "Registered Partnership Firm: Procedure & Benefits of Registration" for details on same. You may contact LegalWiz.in for any further clarification and Incorporation of the Company. To make the process simple, affordable and hassle-free, please contact us at 8980685509 or drop an e-mail at support@legalwiz.in for consultation with experienced professionals.

Business Partnership is vital to survive in the competitive markets. A business partnership built on trust and like mindedness should be formed carefully with following points kept in mind: The partnership must be executed legally. However, the partnership is formed with trust, it is always necessary to enumerate the intention of partnership and all the necessary clauses. Along with the intention of partnership, the clauses on shared goal shall be enumerated without affecting the individual goal. The Role and Responsibilities must be expressed for all the parties into partnership. Ambiguous and undefined roles leave the scope of conflict. Dispute Resolution Strategy should be provided expressly with by selection or manner of selection of arbitrator or the jurisdiction of court. The termination clause should also be provided that in which circumstances termination of contract can be made and the remedies available to surviving party can also be provided. Decide in what manner the decisions will be made and whose decision will prevail in case of dead lock. These points should be finely put into the agreement for a successful business partnership. In case, you need assistance in this regards, please feel free to drop us a mail with your requirements at support@legalwiz.in

Registration of partnership firm follows few simple steps. Where first is the drafting of Partnership Deed, which includes various points and clauses that govern the partners and partnership firm. The registration process is different in every State; however here is a generalised list of documents required for registration: a. PAN card copy of Partners b. Address Proof of Partners c. Original Partnership Deed signed by all the Partners d. Form No. 1 (Application for registration under Partnership Act) e. Affidavit declaring intention to become partner f. Rental or lease agreement of the Business Place g. Utility Bill as address proof of Business Place h. Any other documents, as required by the registrar For process of registration, you may refer "Registered Partnership Firm: Procedure & Benefits of Registration" Also, visit us at https://www.legalwiz.in/partners... or get in touch with our experts at 1800 313 4151 for any assistance required.

According to the Indian Partnership Act, the unregistered partnership firm is valid and deed with the payment of stamp duty and notary is enough to apply for a PAN card in the name of the firm. The application for PAN card allotment can be made by application to the department. The PAN card will be issued within 10 - 12 working days and will be dispatched later. To form an unregistered partnership firm, read guidance at https://www.legalwiz.in/blogs/pa... or visit us at https://www.legalwiz.in/partners.... Experts are available on call at 1800 313 4151 or mail at support@legalwiz.in

Yes, once the Partnership Firm is registered with RoF, any changes to business structure or Partnership Deed must be registered with the concerned RoF. If you need help with this, feel free to visit us at https://www.legalwiz.in/change-i.... For urgent assistance, call us at 1800 313 4151 or drop an e-mail at support@legalwiz.in.

Small and medium enterprises are the backbone of the Indian Economy. MSME stands for Micro, Small and Medium Enterprises. MSME Department is a department of Central Government, established under The Micro, Small and Medium Enterprises Development Act, 2006. The Act was enforced with a view to promote the small scale Businesses and provide the benefits those are available to large scale Businesses through providing various subsidies, incentives and schemes. SSI/MSME Registration is mostly recommended in order to claim various benefits. Below mentioned are the benefits and incentives availed to MSM Establishments registered under the Act: Subsidised Rates of Loan: The availability of Finance is easy and at lower cost. The banks tend to provide loans on lower rate of interest to the MSME. Preference for Government Tenders is also availed based on the registration certificate under MSME. Benefit for Trademark Application: The entities registered having MSME Department can avail rebate of 50% on Government Fees for Trademark Registration Application. The fees prescribed for Companies, LLP, Partnership Firm, etc. is Rs 9,000/-, for which rebate can be claimed based on MSME Certificate. Protection against delayed payment from Buyers is enjoyed due to this registration. The buyers are liable to make timely payment when accepted. A separate Council "Micro and Small Enterprises Facilitation Council" is established for timely resolution of disputes with the consumers. Following are other miscellaneous benefits and schemes: The Credit Guarantee Fund Scheme for Micro and Small Enterprises Market Development Assistance Scheme for Micro, Small & Medium Enterprises Technology & Quality up gradation Support for MSMEs Government Subsidy for Small Business for Cold Chain Power tariff subsidies, excise exemption regulations, capital investment subsidies, and several other benefits Additionally, there are various other benefits declared by Central Government from time to time wit

To register your business in organised form, there are number of options to such as Private Limited Company, LLP, One Person Company, Partnership Firm, etc. based on the requirements and strategy of the business. Considering Private Limited Company as most popular organisation structure, the process is prescribed below in 4 simple steps: Application of DSC for Directors Reservation of Name under which company will carry on its business Drafting of necessary Documents and their execution Application for registration and PAN and TAN There are number of aspects one has to look into before stepping for registration. Recommended is to also look into the post registration aspects of the business including the organisation specific and industry specific. Referred read: All you need to know for registering a company Post registration checklist for private limited company For personalised assistance, reach us on call at 1800 313 4151 or drop an e-mail at support@legalwiz.in. Visit us at https://www.legalwiz.in

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The first step in developing a monthly spending budget strategy for your company is to study the financial data of your organization. You need to have an idea of what your company's monthly expenses are before you can make any changes to the company's spending patterns. This may seem like a complex task, but it isn't complicated when you know how to do it. How can you help yourself with the process? There are many different ways you can go about producing a month-to-month spending budget strategy for your company. You can hire Accountants in London to write the strategy for you, or you can take a bit of time and write your own. Either way, your management team will benefit from having a clear plan in place to follow. You want to keep in mind that you should not be late to ask for help when you need it. Business Accounting is a difficult process, and understanding the process can be time consuming if you're new to this competitive field. It is often more beneficial and time efficient to hire professional Small Business Accountants in London to come in and provide you with a comprehensive set of guidelines on how to operate your company. London Accountants can show you how to make the best use of accounting and help you move your business forward. Not only in the initial level, but also throughout the business life-cycle, they can guide you through the legal procedures and keep you up-to-date. How does the strategy work? So now that you have an idea of how to produce a month-to-month spending budget strategy for your company and how to get help for the process, it is time to get started. The best way to go about this - is to try to understand the nature of your industry as well as the company's basic functions. Once you know this, you can prepare a financial analysis to present to your finance department. They will then put all of the numbers in place and you can start following a budget strategy for your company. One thing you should remember when creating a budge