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Form of Registration

This query is : Resolved 
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(Querist)
29 October 2008 If one wants to open up a yoga centre, could anyone suggest what could be a better option for the form of registration of the same, keeping in mind that it is with a profit motive. Also there are only 4 members at present. It would be better if I could get the tax implication even with the support of your reply.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
30 October 2008 With perpetuation of the centre in mind better it is opened as a company.
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JANPRIYA

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JANPRIYA (Querist)
30 October 2008 Thanks for the reply but could there be some other option coz in case of a company there are lot of formalities to be met over.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
31 October 2008 Think of Limited Liability Partnership as and when the legislation is through.
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JANPRIYA

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JANPRIYA (Querist)
07 November 2008 Is there least tax formalities?
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
15 November 2008 You can also register your club as a normal partnership firm. There will be not much tax implications.
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