A partnership business is a structure in which two or more individuals manage and operate business in accordance with the terms and objectives of deed of partnership. As per Partnership Act, 1932, "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. In Partnership, the partners involved have unlimited limited, which means they are personally liable for the debts of the partnership firm. Visit Our Website : www.taxgyani.com Call us at : +91-9625893100 Mail us at : [email protected]