A partnership deed is a written and registered agreement between two or more people, who want to start a business together. As per the partnership deed, parties involved have agreed to share profits and losses with each other, along with starting the business.
For drafting a partnership deed form, there is a minimum requirement of 2 partners.
When it comes to investing capital in a partnership, there is no minimum or maximum limit. However, the stamp duty will depend on the capital invested by partners.
The name of the business or the brand needs to be entered in the partnership deed form. For this reason, great care and attention should be taken while deciding on the business name.
What Are The 5 Factors of Preparing a Partnership Deed?
The Required stamp duty for preparing a partnership deed?
The minimum stamp duty is using a non-judicial stamp paper of Rs. 200.
What about the rights, liabilities, or share of profit or loss, in the event of death or retirement, of a partner?
When a partner retires, he/she gives up all rights, liabilities, and stake in the company.
If a partner dies, the partnership deed is referred to regarding how to move forward. If there are no conditions or clauses regarding the same, then all rights, liabilities, and stake in the company reverts successor of the deceased partner
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