How to form proprietorship? what are the procedures. please advice in A to Z manner.
or
Whether partnership or propritorship better in terms of tax purpose. please suggest.
thanks,
1 Replies
Mihir
(Wealth Manager)
(5293 Points)
Replied 15 October 2013
You need a ghumsta, open a current account in the bank, print stationary, get tax registrations such as service tax, sales tax, excise etc, and there you go. Taxes as an individual.
In the partnership, you need a partner and a partnership deed duly registered. The profit earned from the partnership firm is tax-free in the hands of the partner.
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