28 June 2012
Can Any one tell me what are the Fiancial advantages of incorporating private ltd company over partnership Firm from income tax view point.
28 June 2012
From income tax point of view for claiming expenses, in partnership firm you have ceiling for remuneration to partners, while in Pvt ltd there is no ceiling for remuneration to director.
28 June 2012
Apart from that, in case of insolvency partners are personally liable for income tax but in case of Pvt Ltd company, directors are liable only in exceptional cases.
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