A business formed by two or more people who agree to share the profits and management of a business as per a Partnership Deed; partners have unlimited joint liability.
Small and medium businesses run jointly by trusted partners who prefer simpler compliance over an LLP or company.
Registrar of Firms, Indian Partnership Act 1932
PAN & Aadhaar of partners; ID and address proof; passport photos; Partnership Deed on stamp paper; proof of business address (rent agreement/utility bill); PAN of the firm.
No, but an unregistered firm cannot sue third parties to enforce contractual rights, so registration is recommended.
Minimum 2, maximum 50 partners.