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Private Limited Company | One Person Company | Limited Liability Partnership | Partnership Firm | Proprietorship Firm | |
---|---|---|---|---|---|
Applicable Law | Companies Act, 2013 | Companies Act, 2013 | Limited Liability Partnership Act, 2008 | Indian Partnership Act, 1932 | No specified Act |
Registration | Mandatory | Mandatory | Mandatory | Optional | No |
Number of Owners | 2 – 200 | Only 1 | 2 – Unlimited | 2 – 50 | Only 1 |
Separate Legal Entity | Yes | Yes | Yes | No | No |
Liability Protection | Limited | Limited | Limited | Unlimited | Unlimited |
Statutory Audit | Mandatory | Mandatory | As Applicable | Not Mandatory | Not Mandatory |
Ownership Transfer | Yes | Yes | Yes | No | No |
Perpetual Existence | Yes | Yes | Yes | No | No |
Foreign Ownership | Allowed | Not Allowed | Allowed | Allowed | Not Allowed |
Taxation Liability | Moderate | Moderate | High | High | Low |
Compliance Requirement | High | High | Moderate | Low | Low |
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