What is a Partnership Incorporation?
Partnership firm registration is required when two or more parties sign a proper agreement to manage and operate a business and share both the profits and losses. Registering a Partnership is the right choice for every small enterprise because the formation is simple and there are minimal regulatory compliances. The Partnership Act was started in India since 1932, making partnerships one among the oldest sorts of business entities in India. A partnership firm can even be registered after it's formed. There are intrinsically no penalties for non Registration of a Partnership firm. But unregistered Partnership firms are denied certain rights under section 69 of the Partnership Act that majorly deals with the consequences of non Registration of Partnership firms.