A partnership is still the simplest structure for two or more people running a business together. What makes it usable is a deed that records capital, profit share, authority, and exit, and — where the partners want it — registration with the Registrar of Firms.
We draft the deed, file the registration, and line up PAN, TAN, and GST so the firm can invoice and deduct tax from day one. A verbal understanding with no deed is what later turns a tax or banking query into a dispute between partners.