What is the Difference between an OPC and Proprietorship? "Call Our Business Plan Experts at +91-72999-72500" When you start a business, one of the first things to consider is what kind of legal structure to select. This decision impacts a variety of important factors, such as taxation, liability concerns, and potential growth. In this article, we'll take a look at the key differences between an OPC and a sole proprietorship so you can make the best choice for your business needs. The main difference between an OPC and a sole proprietorship is that an OPC is a separate legal entity with limited liabilities, while a sole proprietorship has unlimited liability. An OPC is also subject to fewer compliance requirements than a private limited company or LLP, making it easier to register and manage. Another big difference between an OPC and a sole-proprietorship is that an OPC can issue shares to investors, while a sole-proprietorship does not. This can be an...
What Are the Differences between LLP Company and Partnership? "Call Our Business Plan Experts at +91-72999-72500" Choosing the right business structure can have significant long-term implications for your company. It is important to weigh the pros and cons of each and discuss them with your attorney, accountant, and tax advisor. In this article, we will discuss the differences between an LLP and partnership. An difference between a partnership and an LLP where there are one or more general partners and one or more limited partners. The LLP must have a written agreement that specifies management duties, responsibilities and liabilities for each partner. Unlike LLCs, the LLP can allow non-members (accountants, investors, etc) to participate in the management of the business. The LLP can be formed to raise capital through the issuance of shares. It is a tax flow-through entity that reports profits and losses on the partners' income tax returns. ...
Who is liable to Deduct and Pay TDS under the Income Tax Act? "Call Our Business Plan Experts at +91-72999-72500" TDS stands for "Tax Deducted at Source". The purpose of TDS is to ensure that the Government receives taxes straight from the origin of income. The income tax act lays down that any entity making a payment which is liable to TDS (such as commission or brokerage, fees for technical services, rent of property etc) is required to deduct tax at the time of such payment and deposit it with the Government. This is done with an aim to prevent tax evasion and make sure that the Government gets its due share of taxes. The person who is responsible for deducting tax at the time of payment and depositing it with the government is known as a 'deductor'. On the other hand, the person who receives the payment after the tax is deducted is called a 'deductee'. Individuals who get payments such as salaries, fixed deposits, recurring d...
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