Manu M (Coaching and Consultancy) (45 Points)
30 July 2010Dear all.
I am running Animation Coaching Classes( Propreitory Concern), Business is running Profitably and Brand name of my Classes is Good. So, few people came forward to take Franchise... now i am thinking of Converting my concern either to trust or to private limited Company... Please Advice me which is beneficial interms of Tax Svving and Drawing amount.
vineet
(article assistant)
(46 Points)
Replied 30 July 2010
neither of the two is beneficial
its better to run it either as partnership firm and gather a huge amt of interest and salary from firm
or
proprietorship firm where slab rate will apply for taxation purposes
Harpreet
(* * * * * *)
(1670 Points)
Replied 30 July 2010
As per me you should not make any pvt ltd, trust and partnership firm. Proprietorship firm is best for you then run ur business in the same way bcoz u will save tax more than pvt ltd, trust and partnership firm.
CAclubindia
