Features |
Private Limited Company |
One Person Company |
Limited Liability Partnership |
Partnership Firm |
Proprietary Firm |
Acts involved |
Companies Act, 2013 |
Companies Act, 2013 |
Limited Liability Partnership Act, 2008 |
Indian Partnership Act, 1932 |
No specified Act |
Separate Legal Entity |
Yes |
Yes |
Yes |
No |
No |
Registration Requirement |
Mandatory |
Mandatory |
Mandatory |
Mandatory |
No |
Number of members |
2 - 200 |
1 |
2- unlimited |
Feb-20 |
1 |
Liability Protection |
Limited |
Limited |
Limited |
Unlimited |
Unlimited |
No. of Directors |
02-May |
Jan-15 |
2 to unlimited |
Not applicable |
Not applicable |
Statutory Audit |
Compulsory |
Compulsory |
Dependent |
Not Compulsory |
Not Compulsory |
Foreign Direct Investment |
Yes |
No |
Yes |
No |
No |
Annual Filings |
Income Tax Returns with the ROC |
Income Tax Returns with the ROC |
Filed with the ROC |
Filed with the ROC |
Filed with the ROC |
Ownership Transferability |
Yes |
Yes |
Yes |
No |
No |
Rate of tax |
Moderate |
Moderate |
High |
High |
Low |