Hi,
I have a sole proprietorship firm in the name of ABC and we deal in electrical wire and cable for two wheeler,three wheeler,buses and truck and now we are planning to go for export in the name of XYZ.
I am a little confused about formation whether i should go for pvt or llp and which will be beneficial in the long run keeping taxation in mind.
I am targetting a turnover above 50 lakhs per annum from my export of wire and cable.
I have a few question in mind and would be obliged if you could help me regarding the same
Q1)In a LLP in future if i plan to bring in a new partner,so the renumeration for all the partner would have to be the same as per LLP agreement or i can change my LLP agreement as and when desired
Q2)In a LLP can't I formulate my company with directors and manager and ceo and other important employees
Q3)If in futur i would like to change my ownership from LLP to PVT LTD how much time will it take and how cumbersome is the job
Q4)Is it complictaed to handle a pvt ltd company.
As in do we have to conduct meeting and record them to take a decision
I would be helpful if you advice me on these things with explanation.
Hoping for a quick response
CAclubindia
