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Inc

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(Querist)
29 October 2011 Dear All,
I am having a doubt subject matter. Please assist me!
1)What is a difference between proprietary firm & INC.?

2)What are the legal benefits to opening INC instead of proprietary firm?

3)What are the Tax Benefits?

4)Does it coming under Ministry of Corporate Affairs?

5)How to treat INC constituency? Whether it is Individual or Company or AOP & BOI?
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Vishal D Shah

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Vishal D Shah (Expert)
31 October 2011 Dear mahesh, proprietary firm is owned by individual. Inc is term used for companies in certain foreign jurisdiction like we use ltd in India !
Hope this clarifies your further doubts too. Inc incorporation is not possible in India.
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