What will be the legal procedure to set up a coaching center in a partnership model?
Ishika Ray
(Querist) 30 March 2012
This query is : Resolved
What will be the legal procedure to set up a coaching center in a partnership model? Kindly note we 3 to 4 friends are willing to start off a coaching center in partnership form. We all are student & will open the coaching centre in one of us resident. Kindly guide us.
V R SHROFF
(Expert) 30 March 2012
Only adult, above 18 yrs, can join in partnership firm, Any Local Adv will do it for you, Terms & conditions you decide, with your invesment & Profit sharing, regs firm, take license from local body, open bank a/c Start it.
Ishika Ray
(Querist) 30 March 2012
Thank u Sir,
I'm 21 yrs, as per my understanding I have to take trade license from a local body & open a n a/c & get pan card in the name of coachin centre. Agreement related to terms & condition & investment will be signed by us [partners] in a legal paper. Please confirm & also let me know whether any other documentation related to tax will be there or not?
V R SHROFF
(Expert) 30 March 2012
partnership deed , be signed by all partners & get it registered.
Adv.R.P.Chugh
(Expert) 30 March 2012
The Partnership firm (registered) is a legal person for the purposes of taxation - and would be assessed as such. The PAN Card in name of firm would take care of that. Make sure you get Partnership Deed registered.
Raj Kumar Makkad
(Expert) 30 March 2012
You do not require more documents than already discussed.
Ishika Ray
(Querist) 31 March 2012
Thanks a lot for all of yours advice.
Guest
(Expert) 01 April 2012
Better hire services of a professional to get appropriate help for drafting and registration of partnership deed after due discussion on pros & cons and other details of the constitution.
