Respected sir,
what is DIFFRENCE between firm registration and Company registration?
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FIRM V/S COMPANY
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A firm is not a separate legal entity, and it cannot enter into contracts with third parties under its name. For a company registered, the minimum capital requirement is 1 lakh in a private company and 5 lakh in public limited. There is no such requirement of capital which business is going to be registered as a firm.
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