Incorporation of company.
This query is : Resolved
abbas mehdi
(Querist)
06 May 2012
i managed to get a Interior decoration tender worth rs. 60,00,000. please suggest which type of company will be good for the project ( Pvt. Ltd, Partnership or other).. i have 2 more partners along with me. waiting eagerly for your advice.
thanks
thanks
Iqbal Singh Grover
(Expert)
07 May 2012
The form of entity depends on a lot of things.. Your current incomes, your level of comfort with the other partners, your future plans to name a few..
A private limited company is always the best choice in case you plan to grow really big in future with the other 2 partners..
However it involves cost in the form of incorporation expenses ( one time ), ROC compliances ( annual ) and audit ( annual )..
Partnerships are easy to form and dissolve. . No annual extra costs other than tax audits ( if required )..
A private limited company is always the best choice in case you plan to grow really big in future with the other 2 partners..
However it involves cost in the form of incorporation expenses ( one time ), ROC compliances ( annual ) and audit ( annual )..
Partnerships are easy to form and dissolve. . No annual extra costs other than tax audits ( if required )..
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