Partnership firm

This query is : Resolved

Querist : Anonymous

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.

Amol S Joglekar

Amol S Joglekar (Expert)
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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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