Partnership Firm

Author: V S Warrier
A partnership is the relationship between persons who have agreed to share the profits of a business carried on by all or any of them acting or all. In India it is governed by the Indian Partnership Act, 1932, which extends to the whole of India except the State of Jammu and Kashmir. It came into force on 1st October 1932.

Partnership is a form of business organisation, where two or more persons join together for jointly carrying on some business. 
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