its better to form a nidhi company or credit co operative society plz suggest???
and plz give suggestions about income tax too.
Replies (2)
Quick Summary
This discussion compares forming a Nidhi company versus a credit co-operative society, weighing the advantages of each. Key benefits of a Nidhi company include easier formation, lower costs, and fewer regulations compared to co-operative societies. However, the conversation also touches upon the significant difference in income tax treatment, with co-operative societies potentially benefiting from exemptions under Section 80P, while Nidhi companies face a higher tax rate.
Go for nidhi company by forming 200 members Benefits to Registering a Nidhi Company Very Easy formation Cost Efficient Registration More Certainty Less level of Risk – Non- payment loans No RBI Regulations – less compliance Less Capital Required Base to Establish NBFC Best Structure to provide Finance Services Very Low Investment and NOF required Better Credibility No External Involvement Loans with Minimum eligibility Criteria