Whether the term firm mean Partnership firm and Proprietary firm as well or only a Partnership firm,
which is subject to a flat rate of 30%.
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what is the meaning of term Firm ?
Replies (1)
A firm is a type of a company.
• The word firm was traditionally used for accounting and consulting companies and they are even today referred to as firms.
• Firms are either sole proprietorship or partnership whereas company is registered and has shareholders.
A firm is owned by owners who are responsible for the liabilities of the firm.
• The word firm was traditionally used for accounting and consulting companies and they are even today referred to as firms.
• Firms are either sole proprietorship or partnership whereas company is registered and has shareholders.
A firm is owned by owners who are responsible for the liabilities of the firm.
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