Registration of Partnership Firm… Why? and How?
You may want to start a partnership firm with some of your acquaintance. One may wonder whether to register his partnership firm or not when it is not statutorily compelled. Yes, the registration of Partnership in India is not compulsory under Indian Partnership Act 1932. Yet, the unregistered partnership firms lack certain advantages in its future business course. For example, in the unregistered firm the expenses viz., payment of salary, commission, interest on borrowings