restaurant-proprietary firm Vs pvt ltd company

each has its own merits and demerits. proprietorship is easier and a company is costlier.

It is depends on the size of the business. If the proprietor expand the business he can choose to constitute the pvt ltd company
 

Dear Mr. Anand,

I agree with both of the Contributor. If you are willing to expand your business then you msut go for registration.

Considering your Business needs and business turnover, I'll suggest you to get incorporated under LLP Act. and form LLP (i.e. Limited Liability Partnership). . It very much cost effective, easy, Time saving and most improtantly TAX SAVING.

LLP is works under the Ministry of Corporate Affairs (MCA) as the companies works and its status is quivalent to Pvt. Ltd. Co. 

For more information, clarification and incorporation, we would like to assist you.

Regards,

Atul Suryavanshi

  IPR-Attorney

  JC Law Firm

Email: atul@justacausa.in

Mobile - 09923552956

Dear Sirs,

Thank you very much for your expert advise. All of you have given different aspects of the matter.

I am curious to know about how LLP is effective, easy, Time saving and TAX SAVING. Could you elaborate on this?

Thanking you in advance.

Mr. Anand,

LLP Is Effective because

1. Easy Formation - Any two person can come togather to form LLP, they can  controll their liabilities and share to avoid risk. Easy documentation. Live Help is available. Registrered with  Ministry of Corporate Affairs (c.k.s. MCA), 

2. Time Saving - You need not to run after the Registry. Most of the things are done Online. You are expected to get your Incorporation Certificate in 20-25 working days. You need not to approach anybody in Registrar's Office. 

3. TAX Saving - No need of retuinue Audit is required unless ur Capital is Rs 25 Lac or  turnover is exceeding Rs. 60 lac. Unlike Private Limited Companies, LLPs are exempted from statutory audit. Tax will be imposed only on 40% of the LLP's income, since the firm will be allowed to pay the balance 60% to the partners as remuneration. 

Hope this explination will endup your Curiosity.

Regards,

Atul Suryavanshi

  IPR-Attorney

  JC Law Firm

Email: atul@justacausa.in

Mobile - 09923552956