What are advantages of OPC vs sole proprietorship for an individual offering IT services to foreign clients? Thanks sir :) Which should one prefer ?
3 Replies
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 28 June 2021
It mostly depends on the demand of your prospective clients.
Legally from Indian context proprietorship is easier to handle than OPC.
Legally from Indian context proprietorship is easier to handle than OPC.
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 28 June 2021
Yes, i will agree with Mr. Zafar. Further there is tax benefit also if you conduct your business as a sole proprietor because slab rate will apply upon you.
i am Kashif
(372 Points)
Replied 29 June 2021
But opc gives separate legal entity limited liability of sole member its be like private company
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