What are the advantages for a Pvt Ltd Co. over a partnership firm ....
Pls answer me with proper reasons ...
2 Replies
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 17 December 2008
Major diff between company and partnership firm.
In the company your liability is limited but in the partnership firm your liability is unlimited
Jeet Biswas
(ACMA (in Service))
(5073 Points)
Replied 17 December 2008
and thats bcoz the Co. has an existence which is separate from its members...i.e the separate legal entity concept.
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