Company Type | Ideal for | Tax advantages | Legal compliances |
Limited Liability Partnership | Enterprises that focus on services or require little investment | Advantage on depreciation | Company tax returns to be pointed ROC returns to be filed |
One Person Company | Sole proprietors peeking to limit their liability | Tax holiday for first 3 years under Startup India Higher advantages on depreciation No tax on compensation distribution | Business recoveries to be filed Limited ROC compliance |
Private Limited Company | Companies that have a high turnover | Tax holiday for first 3 years under Startup India Higher advantages on depreciation | Business tax returns to be filed ROC returns to be filed An audit is mandatory |
Public Limited Company | Companies with an increased turnover | Tax exemptions under | Business tax returns to be filed. Compulsory Audits |
Pralay is a Tax consultant with 8 years of experience in areas such as GST, Income tax, Company Registration, and various License registrations. As a Tax consultant, Pralay helps individuals and businesses with their tax-related matters, such as filing tax returns, managing tax compliance, and providing tax planning advice. They may also assist clients with company registration, obtaining licenses, and other related legal procedures. With their extensive experience and knowledge of tax laws and regulations, Pralay is likely a valuable resource for their clients. They may work independently or as part of a team, providing customized solutions to their client's tax and legal needs.
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