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Query in taxatiion matter

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(Querist)
27 December 2012 if four people work in individual having turnover of 10 crores each, should they come together and form a pvt ltd company or not????
what are the pros and cons in forming a company as per income tax point of view????
note: the nature of business is a construction business
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V K Bajaj

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V K Bajaj (Expert)
28 December 2012 To incorporate a Company or not is purely an individual matter.

Income Tax: In the case of Company the net income is taxable @ 30.9% at present. The Directors (four individuals) can write off their salaries as expenses.
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