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Company & firm

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(Querist)
03 June 2009 dear sir,

what is the difference between Company & Firm.

Ramu
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
03 June 2009 A company means a company as per sompanu Act 1956 or an existing company. However a firm means a partnership ship i.e. relation between 2 or more person who afree si share profit or losses of business run by all or any one of then acting for all.
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