- Trusts are governed by Relevant state trust act or Bombay Public Trusts Act.
How many types of business entity prevail in indian laws?
In India a person can choose from five altered natures of legal entities to start business. It comprises partnership firm, sole proprietorship firm, limited liability partnership, private limited company and public limited company. A type of entity commands about the organization structure and how that company is taxed.
How to select which kind of entity you should registered?
When starting a business, one has to select the type of legal structure to select for business. Generally this will depend on three primary factors are liability, taxation and record-keeping. Various other criteria are also to be considered like cost of formation and ongoing administration and flexibility..
How to select which kind of entity you should registered?
There are various benefits that a person can avail from business registration.
Goodwill :In general, business having registration certificate has higher goodwill than non-registered business.
Limited personal liability : Members liability is limited to amount of shares purchased by them in case of company.
Financing: It is easier to raise funding in registered business than other forms of business.
Easy to start: It is easy to start a business in case of sole proprietorship firm.
Fulfill buyer norms: Big businesses that have supplier selection criteria incline to prefer to make sure the business must be registered than an unregistered business entity.
How much capital is required to introduce in business registration?
There is no minimum requirement of capital to register the business. The person can infuse the funds as per the size of business model. Formerly, the person had to pay a minimum of one lakh as a payment to start a private limited company. Observing this, many startups picked to switch to sole proprietorship. Nowadays, the government management has removed these criteria at the time business registration.div>
How to benefit from Data Machine Learning?
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