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Rohan (-)     01 December 2009

New Firm

A relative of mine wants to start either a Sole Prop. Firm or a Partnership Firm. My request to law professionals is for a very brief outline of the steps reqd to bring into existence:

a) Sole Proprietorship Firm

b) Partnership Firm

I am a commerce student so i wud be able to understand the technical terms. So in depth details not reqd. But i request for the Broad Outline or a series of Steps. 

Thanks a lot.



Learning

 1 Replies

AJ ( )     05 December 2009

 Dear Rohan,

 

The requirements depends on the nature of activities proposed to be undertaken by the firm.

However as a basic requirement the following are essential:-

1. PAN card - in partnership, you need PAN card of firm & all partners.

2. Bank account in the name of the firm

3. In case of Partnership- A registred Deed.


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