What are advantages of OPC vs sole proprietorship for an individual offering IT services to foreign clients? Thanks sir :) Which should one prefer ?
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OPC vs sole proprietorship for IT service company
Replies (5)
Quick Summary
It mostly depends on the demand of your prospective clients.
Legally from Indian context proprietorship is easier to handle than OPC.
Legally from Indian context proprietorship is easier to handle than OPC.
Yes, i will agree with Mr. Zafar. Further there is tax benefit also if you conduct your business as a sole proprietor because slab rate will apply upon you.
But opc gives separate legal entity limited liability of sole member its be like private company
OPC is a form of company offering separate legal entity and limited liability features. It means that it provides the personal assets protection of a director/shareholder in the event of any loss, debt or loan, etc. It has similar benefits to a company, and we all know that a company has more credibility than a sole proprietorship. This is the reason you should prefer an OPC as a business structure for an IT Service company. It's always advisable to consult an expert, one-person company registration service provider in India.
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