Significance of Business Structure During a Company conformation in India
Your income tax returns will rely on the business structure you choose, so be sure to do your research . When registering your business, keep in mind that there are many levels of compliance that must be completed depending on the business structure. A sole proprietor, for instance, is simply required to file an income tax return. However, a business must submit annual reports to the Registrar of Companies along with an income tax return. An annual audit of a company’s books of accounts is required. Spending money on auditors, accountants, and tax filing professionals is necessary to comply with these legal requirements. Therefore, while considering company registration, it is crucial to choose the appropriate corporate structure. Entrepreneur needs to know exactly what kind of legal compliance they are willing to handle. For further information on company formation in India , read this article below! Different Types of Business Structures Public Limited Company A public limited c