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Ms Anushka Upadyay
On 12/15/18, 5:23 AM
S. No.Point of DifferencePvt Ltd CompanyProprietorship Firm
1.RegistrationIt will be registered under the Companies Act 2013 with the Ministry of Corporate Affairs.There is no formal registration
2.Name of the BusinessIt must be approved  by the Registrar of the Company. It will end with words Private Limited Company.There is no need for approval before using the name. 
3.Separate Legal EntityIt is a Separate Legal Entity under the Companies Act 2013.It does not have a separate legal entity and owner is personally liable for the liability of the business.
4.Minimum and Maximum members
Minimum- 2 members
Maximum- 200 members
Minimum- 1 member
Maximum- 1 member
5.TransferabilityBy way of transfer of sharesNot transferable
6.ExistenceIndependent of its members and directors.Depends on the owner.
7.TaxationIts profits are taxed at 30% plus surcharge and cess as applicable.Under owner's income tax


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Asked: 12/15/18, 4:24 AM
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Last updated: 12/15/18, 5:26 AM