Partnership Firm Registration and Partnership Deed | Provenience

partnership firm registration

The legal definition of a Partnership

According to the Partnership Act, 1932, the definition of a partnership is as follows:

“Partnership” is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. Persons who have entered into a partnership with one another are called individually, “partners” and collectively “a firm”, and the name under which their business is carried on is called the “firm-name”.

Why you should register the partnership

It is important to note that a partnership is NOT a separate legal entity. It is a combined name for all the partners. Whether you register the partnership or not, this fact will not change. However, registering the partnership is legal proof of the existence of the firm. According to Section 69 of the Partnership Act, 1932, unregistered partnerships face the following consequences:

A partner of the firm cannot file legal proceedings against the firm or any of its partners.
The partnership firm cannot file legal proceedings against any third party. So, if there is a dispute regarding a business transaction, an unregistered partnership firm cannot go to court for settlement.
A partner of the firm cannot file legal proceedings to enforce any right for the dissolution of the firm or for the accounts of a dissolved firm or power to realize the property of a dissolved firm.

Process of Partnership Firm Registration

The Partnership Act, 1932, does not mandate partnership firm registration and therefore, there is no time limit for the same. You can register the firm at any time. The partnership firm registration process is as follows:

Submit an application form to the Registrar of Firms and provide details like:
Name of the firm
Names and addresses of all partners
Addresses of the main office and all branches
Date of commencement of business
Date of joining of each partner
Duration of the partnership
Attach the required documents (explained below)
Pay the necessary fees

The process of registration is simple. Once the Registrar is satisfied with the details, he files an entry of the statement in the Register of Firms. This completes the process of partnership firm registration.

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Digital Signature Preparation | Provenience

What is a Digital Signature?

Before we talk about a digital signature, let’s look at the importance of signatures. A signature is your identity.In the digital world, while physical signatures are not possible, the importance of signing an important document to authenticate its source is more prevalent. Hence, digital signatures were designed. In simple terms, a digital signature allows the recipient to ensure the authenticity of an email or document received. If the document has a digital signature, then the recipient knows the creator of the document and whether it was altered before it reached him/her. Digital signatures use encryption for ensuring authentication.

Digital Signature Certificate (DSC)

While digital signatures are fine for individuals sharing documents, when it comes to encrypting data on a large scale (like a website), one needs a different approach. This is where digital signature certificates (DSCs) come in.

A DSC ensures the user that the website (and the server it is hosted on) is trusted by a Certificate Authority. This is an independent source that verifies and authenticates websites by using the public key encryption process on a large scale.

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How to Start New Business – Very Basic Points Can Help You | Provenience

Factors to consider before you Start a New Business

Finalize and develop your business idea – Any business starts with a thought – an idea. However, converting it into a successful business venture requires a lot of research and fine-tuning of the core idea itself. Determine what you plan to offer to the market and determine your target market.
Learn the tricks of the trade – The markets are more competitive than ever before. The success of your business will depend on the expertise that you bring to the table. Gather knowledge, skills, and experience to ensure that you are at the top of your game when you start a business.
Create a project report – A project report will force you to get organized, research the numbers, and put ideas down into an actionable plan. This is the basis of any successful business. You can view some samples online and create a project report before you start.
Determine initial funding sources – Are you planning to self-finance your business? Or, will you opt for loans or look for investors? You need an accurate estimate of the funds required to get the business up and running. Ensure that the sources are determined and funds arranged within time.
Register your business – One of the first questions is the type of business that you must start. Should you opt for a Sole Proprietorship? Or, a Private Limited Company? What about a One-Person Company? Maybe an LLP is better? The key lies in identifying the right type of business entity to suit your business. To help you make the right decision, here are some handy tips:

How to increase Authorized Capital of a Company?

increase authorised capital

One of the primary benefits of choosing a private limited company as a business structure is the ability to issue shares and raise funds. While incorporating a company, you need to determine the share capital of the company. This is that part of the company’s equity that you can sell to shareholders for cash or other considerations. However, the government does not allow companies to indiscriminately raise capital. Hence, the requirement of authorised capital was put in place. The authorised capital is the maximum value of share capital that the government allows companies to issue to shareholders. However, companies can increase authorised capital by following a specified process. Today, we will share the details of the process to increase Authorised Capital of a company.

To know more in detail keep reading at – https://bit.ly/2AftmGA

Difference between Bookkeeping and Accounting | Provenience

Bookkeeping and Accounting

If you have been using these terms interchangeably, then it’s time you understood how they differ. Many people get confused between these two roles since they work in tandem for the benefit of the business. It all boils down to the financial statements and reporting of the organization. However, there are some stark differences between bookkeeping and accounting. Here is a basic differentiation:

Bookkeeping is about updating the financial records of the business, managing daily transactions, checking bank statements, payroll, etc. On the other hand, accounting is more about supervising the documents that bookkeepers prepare. They analyze the financial records of the organization and provide insights to help the company grow.

While technological tools are blurring the lines between these two roles, understanding them can help you get the best out of your employees.

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Procedure for LLP Registration in India |Provenience

Essential points for LLP registration in India –

An LLP must have at least two partners. Further, these partners can be either individuals or body corporates.
The LLP must have a registered office in India. Further, this office should be for sending/receiving communication.
An LLP must have at least two designated partners to carry out all the acts of the LLP. Further, they must be Indian residents.
All designated partners must hold a Designated Partner Identification Number (DPIN). The Ministry of Corporate Affairs (MCA) provides the DPIN.
You must execute a Limited Liability Partnership Agreement between all the partners of the LLP. Also, in the absence of an agreement, Schedule I of the LLP Act, 2008 is applicable.
The LLP name must be unique.
You must submit the incorporation form with the prescribed documents to the Registrar.

If you want to know the process in details, keep reading at – https://bit.ly/2Wr2coE

What is the Difference Between a Driver and a Chauffeur?

Airport chauffeur service - Executive Limo

There is a big difference between a chauffeur and a driver. People usually believe in the myth that chauffeur is just a fancy way of calling a driver. But it is not the case as the service for both the professions is entirely different. In this article, you will know about some of the biggest differences between a private chauffeur Dubai and a driver.

The two big differences are –

Service Quality Difference
Training Difference

Lets discuss these major difference between driver and chauffeur –

Service Quality Difference –

The role of a driver is to drop you to your desired destination in the fastest route possible. But at times, the passengers or the owners do not like an easy way out. They want to see and enjoy the sights while heading to the airport. The chauffeur will take proper care of your desires and will take the long route for giving your scenic views but will also take updates from you about the flight time or appointment time. The airport chauffeur service in Dubai will make sure that you reach on time without compromising your luxury.

To know the other difference in detail keep reading at – https://bit.ly/2TRGuHO

4 Helpful Tips On Buying Hot Stamping Foils

buying-hot-stamping-foils

Hot stamping foils are important packaging solutions for brand aesthetics and security. Of late, these foils are being used in industries like FMCG, Pharma, Agro, leather, etc. Available in different colours, shapes and sizes the foils can be customized as per your needs. However, there are many important points which you might skip before choosing them. In this blog we are giving you four helpful tips on buying stamping foils.

1. Check the production quality

Poor quality hot stamping foils cannot withstand the harsh environment of the supply chain. You can lose your money and efforts by investing in such foils. Therefore, it is highly recommended to assess the production quality of hot stamping foils before purchasing them. In order to ensure production quality, it is necessary to do the sampling of the products on time. Moreover, it is better if you personally visit the manufacturing facility and have a personal experience of the production process and raw materials.

2. Check if the foil aligns with the applicator/stamper

If the hot stamping foil does not fits into the applicator or stamper then it is of no use. There are chances that you might overlook this important factor before choosing the foil and it could be disastrous. Always check to ensure that the dimensions of the hot stamping foil matches with the applicator or not. This little check can save you from a lot of problems in the future.

To know more about in details, keep reading at – https://bit.ly/2PEC4Tq

Best holographic revenue stamps online | Holostik

Holostik has come up with an exclusive array of uniquely designed holographic revenue stamps featuring impeccable and enhanced technology. What makes Holostik’s tax stamps distinctive is that they are incorporated with countless protective features to provide maximal security to your products. Therefore, with our cost-effective and customer-friendly solutions, you might have the most valuable experience. Few of the features that we focus on are-

Quality – Our experts are dedicated to making supreme-quality products, and thus, we do not compromise on any of the aspects. Along with designing in such a way that humans can read the variable data, we are also passionate about making holographic tax stamps with quality materials like thermochromic inks.
Economically priced – Many manufactures, especially tobacco sand liquor manufacturers, have to be extremely careful as they can fall prey to counterfeiting. Thus, choosing the best holographic tax stamps is something you can’t compromise on. However, the best quality holographic stamps also come at a hefty price. At Holostik, we provide flexible prices to benefit our customers entirely.
Maximal protection – For having the best chance at avoiding counterfeiting, security is an essential component. Holostik is determined to design holographic tax stamps that are designed with few of the most extraordinary, efficient, authentic, and mind-blowing security features.
Customizable- One of the most valuable components of our company is that we make customer-specific holographic tax stamps. Our tax stamps are tailored according to the client’s needs. Thus, we design customized stamps covering all your requirements so that you have a satisfying experience. A few of the stamp types we create are- holographic transferred paper tax stamps, paper tax stamps, holographic tax stamps, tax stamps with talking/taggant pen, etc.
Unique and exquisite designs- Our uniquely designed holographic stamps can unquestionably avoid counterfeiting. Our holographic tax stamps are incorporated with distinctive designs to add style and extra protection to your products. We use PVC, Glass, Cardboard, Plastic, paper, and metal for designing only the most striking and securing holographic stamps.
Exceptional technology- All of our holographic revenue stamps undergo several powerful and effective techniques so that the user does not encounter any troublesome issues. Therefore, we take pride in making stamps that will secure your products at all costs.

To sum up,

Holostik is an exclusive company dedicated to making reliable, securing, distinctive, and efficient holographic revenue stamps. We at Holostik are here to make your life a bit easier. Thus, we are enthusiastic about designing only the most relevant Tax Stamps that fit your specifications.

5 secrets to choosing the best shrink sleeves manufacturers

Bottled products need shrink sleeve labels for branding and security. However, the biggest challenge is to look for a shrink sleeve manufacturer who fulfils your specific needs.

There are many aspects of which procurement managers are not aware while choosing a shrink sleeves. These aspects are trade secrets of the packaging industry and being aware of these can work in favor of your business.

To make things easy, we have compiled below the secrets for choosing the right shrink sleeves manufacturer.

Durability –

There is a high possibility that shrink sleeve labels on bottled products can get damaged in the supply chain. Products usually go through a lot of wear and tear while being transported. Poor quality shrink sleeves can easily get torn and scratched. This leads to a loss of important information printed on the label and also tarnishes your brand’s image.

Your procurement team should choose a shrink sleeve manufacturer that doesn’t compromise on quality. The manufacturer should use high-quality raw materials and comply with global standards of manufacturing to deliver the end product.

Branding & aesthetics –

Manufacturers of bottled products can miss the aspect of branding and aesthetics while choosing a shrink sleeve. Shrink sleeves with poor branding and visual appeal will definitely bring down the sales of products.

Companies manufacturing bottled products should choose a shrink sleeve manufacturer that complies with high standards of branding and aesthetics. Always choose a shrink sleeve label that can showcase branding and aesthetics from all angles. Branding and aesthetics in shrink sleeve encompass customized holography, designs, colour, printing and much more.

To know more about it, keep reading at – https://bit.ly/3aQ2afh