Difference between Private Limited, LLP and OPC

Features

Company

LLP

Proprietorship Firm


Suitable for
Founders who have a definite plan and vision and are looking to get Private funding Venture is an experiment and the founders are unsure of how it will run, It is most suitable to professional. Suitable for Venture is Run by the Family person

Registration Time
It will take 10-15 days to get Certificate of incorporation It will take 10-15 days to get Certificate of incorporation It will take 2-3 days

Name
Name of a public company to end with the word “limited” and a private company with the words “private limited” Name to end with “LLP”” Limited Liability Partnership” No guidelines.

Liability
Limited to the extent of unpaid capital. Limited to the extent of the contribution to the LLP. Unlimited, can extend to the personal assets of the partners

Bankers view
High creditworthiness, due to stringent compliances and disclosures required Perception is higher compared to that of a partnership but lesser than a company. Creditworthiness depends on goodwill and credit worthiness of the partners

Tax rate
The income is taxed at 30% + surcharge + cess (25% till turnover < 50 Cr from FY 1718) The income is taxed at 30% + cess
No Surcharge
The income is taxed at 30% + cess
No Surcharge

Remuneration to Director/Partners
Can give any amount in Pvt Ltd Restriction in remuneration to partners Restriction in remuneration to partners


Regular Compliances – Under Act under which same is registered
CSubstantial Compliance
MGT 7 – Annual Return
AOC -4- Financial Statements
MGT 14- Accounts
MGT 14- Declaration
ADT1 – Auditors Appointment
Company Audit is Compulsory
Moderate Compliance
Form 8 – Statement of Solvency and Account
Form 11- Annual Return
NO regular Compliance. Need to do compliance on the event based like change in object or partner.

Costing For Registration
Rs 13500 onwards Rs 9000 onwards 5500 for Registered and Rs 2500 for unregistered

Yearly Compliance
Rs 10000 onwards Rs 5000 onwards Rs 2500 onwards