Company v/s partnership firm

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Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2015 when tax rate is same for partnership firm and company then what is the reason behind creating a private limited company?
Please summarise all the benefits.

Amol S Joglekar

Amol S Joglekar (Expert)
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02 January 2015 scale of operation normally plays an important role.
Limit on number of partners and limit on number of members in a company also merrits consideration.
Limited Liability is next important aspect

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Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2015 please describe further how scale of operation is important?

Amol S Joglekar

Amol S Joglekar (Expert)
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03 January 2015 if u r planning to be big in an unlimited manner....Company form of organisation is preferred to Partnership

Partnership normally aim at moderate/medium scale of operations....partners are either family members, friends etc.

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