Firm or Business registration

[Rohittz]

Hello members
Good day

I am starting a online business of correcting texts, Quality assurance of the records etc which cater International customers like USA so kindly advise me what type of registration i need to get, as the income from this business not more than 50-70 k per month, Few are advised for LLP or partnership, few said about proprietorships and few said MSME registration or pvt ltd.

So kindly let me know which registration is best for me and have less botheration or audit or expenditures.

Thanks in Advance.

 

[Ankit Dwivedi]

Given your expected income and need for minimal regulatory compliance and costs, an LLP (Limited Liability Partnership) might be the best fit. It offers limited liability protection and is easier to manage than a Private Limited Company, while still providing a level of credibility and flexibility. Consulting a professional (chartered accountant or company secretary) can provide tailored advice and assist in the registration process, ensuring compliance with all legal requirements. Thanks

 

[CA Sunil Chahal]

Hello members
Good day

I am starting a online business of correcting texts, Quality assurance of the records etc which cater International customers like USA so kindly advise me what type of registration i need to get, as the income from this business not more than 50-70 k per month, Few are advised for LLP or partnership, few said about proprietorships and few said MSME registration or pvt ltd.

So kindly let me know which registration is best for me and have less botheration or audit or expenditures.

Thanks in Advance.

LLP has many compliance, you can try for partnership bcz you can give minimum salary of 1.5 lakh to partners but their is 30% flat tax rate. So its better to continue under proprietorship.

 

[Rohittz]

Given your expected income and need for minimal regulatory compliance and costs, an LLP (Limited Liability Partnership) might be the best fit. It offers limited liability protection and is easier to manage than a Private Limited Company, while still providing a level of credibility and flexibility. Consulting a professional (chartered accountant or company secretary) can provide tailored advice and assist in the registration process, ensuring compliance with all legal requirements. Thanks

Thanks for the advice..

 

[Rohittz]

LLP has many compliance, you can try for partnership bcz you can give minimum salary of 1.5 lakh to partners but their is 30% flat tax rate. So its better to continue under proprietorship.

Thank you dear