Скачать или смотреть Sole Proprietorship vs. Partnership Firm: Legal Status | ഏത് തിരഞ്ഞെടുക്കണം? | EP.

Navigating the legal landscape of business structures can be confusing. In this video, we break down the fundamental differences between a Sole Proprietorship, a Partnership Firm, and a One Person Company (OPC) to help you make an informed choice.

Key Takeaways:

Sole Proprietorship: This is the simplest form of business, but it is not a separate legal entity. Ownership cannot be transferred directly because the business is tied to the owner's personal PAN and Aadhaar credentials.

Partnership Firm: Ideal for teams, a partnership is formed through a Partnership Deed. While it is a separate entity for tax purposes (with its own PAN card), the partners carry unlimited liability for business debts. Unlike a proprietorship, ownership in a firm can be transferred by reconstituting the deed.

One Person Company (OPC): Registered under the Ministry of Corporate Affairs, an OPC offers the structure of a private limited company for a single owner. It requires a nominee to ensure continuity and provides a more formal corporate identity, though it comes with higher compliance costs.

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Peace out... Until the next episode!

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