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Patnership Firms : We will provide you partnership agreement drafted by our partnership registration consultants considering your nature of the business, preference of bank account operation, profit sharing ratio, monthly remuneration. Partnerships are ideal for small business in the unorganised sector having multiple promoters. Partnership Deed, Form ā€œCā€, PAN and TAN. India. According to section 4 of the Partnership Act of 1932, "Partnership is defined as the relation between two or more persons who have agreed to share the profits of a business run by all or any one of them acting for all". ... 1) A partnership firm is not a legal entity apart from the partners constituting it. firms and types of partnership,