Page Description
SEO Page Description:
Discover what a partnership business is and its essential characteristics. Learn about the benefits and drawbacks of partnerships and the eligibility criteria for forming one. Explore the partnership registration process in Kerala, including necessary documents and compliance requirements. Gain insights into the partnership timeline and important considerations for successful partnership registration.
Keywords
Partnership business
Legal structure
Two or more individuals
Business organization
Number of owners
Shared profits and losses
Shared management
Liability
Partnership agreement
Flexibility
General Partnership
Limited Partnership
Limited Liability Partnership
Professional services firms
Family-owned businesses
Small to medium-sized enterprises
Partnership eligibility
Mutual consent
Profit-sharing
Capital contribution
Decision-making
Duration
Compliance with legal requirements
Business models
Benefits of Partnership
Shared responsibility
Ease of formation
Capital and resources
Tax benefits
Diverse skill sets
Risk sharing
Flexibility in management
Profit sharing
Succession planning
Personal relationships
Drawbacks of Partnership
Unlimited personal liability
Shared profits
Limited capital
Lack of continuity
Difficulty in decision-making
Limited management skills
Potential for disputes
Difficulty in raising funds
Limited tax benefits
Complexity of dissolution
Partnership registration
Choose a business name
Create a partnership deed
Obtain PAN and TAN
GST registration
Business registrations
Filing of income tax returns
Annual statement of accounts
Statutory audits
Compliance with the Partnership Act
Maintain records
Other regulatory compliance
Renewal of registrations
Partnership registration timeline