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Partnership firm

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 December 2014 i have servicing company as proprietor but now i think to trfed this co to partnership firm with my mother who is senior citizen. Pls let me know what is advantage to trfed co in partnership firm.
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Amol S Joglekar

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Amol S Joglekar (Expert)
16 December 2014 No any specific advantage as you are inducting your family member. On the other hand, disadvantages could be many. Income tax slab rate become 30%
Other legal heirs of your mother may have indirect interest and so on.
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