Registration under trust or cooperative socity

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J.P. ACHARYA (Querist)
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26 May 2015 One of my known is going to start a new business of agriculture products.They will provide seeds and other resources to the farmers and will purchase whole crop from them.

Now he want to know about registration under this situation.what will be the beneficial for him to register his business as a trust or a cooperative society?

Estimated turnover will be about on or above 50 lakhs.

Please suggest.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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26 May 2015 if you want farmers to be part of your business register it as co-operative society.

Amol S Joglekar

Amol S Joglekar (Expert)
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26 May 2015 When your KNOWN is sure of doing BUSINESS activity, it is advisable to go for proprietary or partnership or company form of organisation rather than going in for TRUST (Philanthropic PURPOSE)OR SOCIETY (activities within members only)

J.P. ACHARYA

J.P. ACHARYA (Querist)
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29 May 2015 is this beneficial for him to incorporate as a producer company?

Amol S Joglekar

Amol S Joglekar (Expert)
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29 May 2015 yes, definitely it will be convenient for your client.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 May 2015 Start with limited liability partnership(LLP) where less compliance requirements, when business grows if required it can be converted as company.

J.P. ACHARYA

J.P. ACHARYA (Querist)
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29 May 2015 Ok Thank you very much SEETHARAMAN SIR & AMOL SIR

Amol S Joglekar

Amol S Joglekar (Expert)
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29 May 2015 you are most welcome.
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