Comparsion Chart

S.No.
Comparison Points
Proprietorship
Partnership
Limited Liability Partnership (LLP)
Private Ltd Company
One Person Company (OPC)
S.No.
1
Comparison Points
Name Approval
Proprietorship
No Name Approval Required
Partnership
No Name Approval Required
Limited Liability Partnership (LLP)
Need to be approve by MCA
Private Ltd Company
Need to be approve by MCA
One Person Company (OPC)
Need to be approve by MCA
S.No.
2
Comparison Points
Legal Status
Proprietorship
No separate legal entity from owner
Partnership
No separate legal entity from owners
Limited Liability Partnership (LLP)
Separate legal entity from owners, personal liability limited to partner capital
Private Ltd Company
Separate legal entity from owners, personal liability limited to capital
One Person Company (OPC)
Separate legal entity from owners, personal liability limited to capital
S.No.
3
Comparison Points
Formation Time (Around)
Proprietorship
4 Days
Partnership
4 Days
Limited Liability Partnership (LLP)
15 Days
Private Ltd Company
15 Days
One Person Company (OPC)
9 Days
S.No.
4
Comparison Points
Registration
Proprietorship
No Formal Registration
Partnership
Optional Registration under Partnership Act 1932
Limited Liability Partnership (LLP)
Registration with MCA under LLP Act 2008
Private Ltd Company
Registration with MCA under Companies Act 2013
One Person Company (OPC)
Registration with MCA under Companies Act 2013
S.No.
5
Comparison Points
Borrowing
Proprietorship
Personal Sources & Banks
Partnership
Personal Sources & Banks
Limited Liability Partnership (LLP)
Personal Sources & Banks
Private Ltd Company
Project Financing, private placement of Share & debentures, Angel Investors, loans form directors and members (Subject to restrictions), banks
One Person Company (OPC)
Personal Sources & Banks
S.No.
6
Comparison Points
Owners Remuneration
Proprietorship
Owner can withdraw money in the form of Drawings
Partnership
Partners remuneration allowed, subject to certain restriction
Limited Liability Partnership (LLP)
Partners remuneration allowed, subject to certain restriction
Private Ltd Company
Directors’ Remuneration Allowed as per Board/members’ agreement
One Person Company (OPC)
Directors’ Remuneration Allowed as per Board/members’ agreement
S.No.
7
Comparison Points
Minimum Number of Members/ Shareholders
Proprietorship
1
Partnership
2
Limited Liability Partnership (LLP)
2
Private Ltd Company
2
One Person Company (OPC)
1
S.No.
8
Comparison Points
Minimum Number of Directors/Partners
Proprietorship
NA
Partnership
2
Limited Liability Partnership (LLP)
2
Private Ltd Company
2
One Person Company (OPC)
1 (1 Nominee)
S.No.
9
Comparison Points
Foreign Member/FDI
Proprietorship
Not Allowed
Partnership
Not Allowed
Limited Liability Partnership (LLP)
Allowed with necessary Approval
Private Ltd Company
Allowed with necessary Approval
One Person Company (OPC)
Not Allowed
S.No.
10
Comparison Points
Transferability
Proprietorship
Not Transferable
Partnership
Not Transferable
Limited Liability Partnership (LLP)
Transferable
Private Ltd Company
Easily Transferable
One Person Company (OPC)
Transferable
S.No.
11
Comparison Points
Income Tax Rate (Ex. EC & SH)
Proprietorship
As per slab rates
Partnership
Flat Rate @ 30%
Limited Liability Partnership (LLP)
Flat Rate @ 30%
Private Ltd Company
Flat Rate @ 25%
One Person Company (OPC)
Flat Rate @ 25%
S.No.
12
Comparison Points
Board meeting
Proprietorship
Not Required
Partnership
Not Required
Limited Liability Partnership (LLP)
Not Required
Private Ltd Company
Required Periodically
One Person Company (OPC)
Not Required
S.No.
13
Comparison Points
Registration Cost
Proprietorship
Approx. Rs 3,000
Partnership
Approx. Rs 4,000
Limited Liability Partnership (LLP)
Approx. Rs 8,000
Private Ltd Company
Approx. Rs 10,000
One Person Company (OPC)
Approx. Rs 9,000
S.No.
14
Comparison Points
Annual Tax Return?
Proprietorship
Yes
Partnership
Yes
Limited Liability Partnership (LLP)
Yes
Private Ltd Company
Yes
One Person Company (OPC)
Yes
S.No.
15
Comparison Points
Audit Required?
Proprietorship
While crossing limit under IT act
Partnership
While crossing limit under IT act
Limited Liability Partnership (LLP)
While crossing limit under IT Act/LLP Act
Private Ltd Company
Yes
One Person Company (OPC)
Yes
S.No.
16
Comparison Points
Popularity (Out of 5 Star)
Proprietorship
2**
Partnership
2**
Limited Liability Partnership (LLP)
3***
Private Ltd Company
5*****
One Person Company (OPC)
3***
S.No.
17
Comparison Points
Resident Person Required?
Proprietorship
Yes
Partnership
Yes
Limited Liability Partnership (LLP)
Yes
Private Ltd Company
Yes
One Person Company (OPC)
Yes

You Might Be Interested In

https://filingdigits.com/uploads/services/1565347344.png

Business Registrations
https://filingdigits.com/uploads/services/1567595076.png

Documents Centre
https://filingdigits.com/uploads/services/1567595271.png

Finance & Accounts Outsourcing
https://filingdigits.com/uploads/services/1565611182.png

Goods & Services Tax (GST)
https://filingdigits.com/uploads/services/1567594921.png

Income Tax Returns
https://filingdigits.com/uploads/services/1567594972.png

License & Permits
https://filingdigits.com/uploads/services/1567595340.png

Other Services
https://filingdigits.com/uploads/services/1567595228.png

Statutory Filings & Compliances
https://filingdigits.com/uploads/services/1567595147.png

Trademark, Patents & Copyrights

Search your Company / Trademark Name

Copyright © 2014-2020 Ausweg, All rights reserved.
Call Us Whatsapp