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Which is easy to incorporate for an ordinary pa...

Which is easy to incorporate for an ordinary partnership or LLP?

Which is easy to incorporate for an ordinary partnership or LLP?

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Jeeba Lal Aug. 13, 2018

If you want to form an ordinary Partnership, there is no need for registration. Individuals can do business without registering the Partnership. So if you want to form a Partnership, go ahead and form a partnership business without the burden of registration the major concerns of people is about proceedings and documentations. People choose to form a simple partnership because they do not want the long legal proceedings and regulations that come along with forming a LLP.

Don’t worry, the complexity is slightly overrated. Formation of Partnership is definitely easier from a regulatory point of view but all the basic procedures – getting a Service Tax / VAT registration, getting a PAN & TAN Card, opening a fresh bank account and getting an IEC still have to be complied with, even if you start as a simple Partnership. And if your income is above the taxable limit, you need to file tax returns irrespective of whether you are a simple Partnership or LLP.

Which is easy to incorporate for an ordinary partnership or LLP?

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