True. Today CAs are only filing returns. No insights. No strategies. The govt has made tax computation so complex that they make enough for the day filling just returns of 10 clients.
@nikhil kamath Be pvt ltd or LLp you can raise additional capital there is no need to be just pvt ltd. Ownership still vest in llp as well. Instead LLP is simple than pvt ltd, you escape all the corporate compliances and easily manage your business
@@divyagothi pvt ltd and ltd are kind of llc only Here the company Is legal entity and not its members LLP depends more on the partners so investing in LLP is headache Lots of charges fines Taxation
If he wants to open a company then why did he consider LLP and Partnership... these are firms not company... lol😂 company can be pvt. Or can be public ltd.
In any business, if you make >10L/year you pay 30% Income tax + cess. You also pay ~18% GST on your own products or service. So total 48% tax. With the remaining 52% whatever you purchase for office or home, you again pay a 5-28% GST (say avg 10%). So you pay approximately 58% as tax to the government for anything you do. This money is used to build our infrastructure. The beggar on the strreet and those who do dont pay taxes, save this money and still enjoy this money. The govt does not help those who pay tax. Instead they are often subjected to tax notices.
Calculation is way off but point is the actual tax payers are getting very less worth in return to their tax payment. Most people i.e. very rich and those using cash payments are evading tax.
That's not how it works. First,Remove GST from the picture as the consumer pays the GST. 2nd even beggar pays tax as GST when he buys something. 3rd how tf you got the idea to tax a beggar.
@@josephadithya If market cost of a commodity is 100. To remain competitive we try to absorb the GST and sell for 82 plus 18 GST. You may be an accounts guru, but I have been doing business for years. We know our problems.
I had a pvt ltf for my company AdsGroo but balf if our profits was taken into taxes then we chnages to proprietorship and now I have multiple ways to pay 0 in taxes legally.
sounds easy but it's not. Section 8 company are created for a not for profit activities like sports, music or such other things. and also getting approval for creating section 8 attracts a lot of scrutiny from ROC so it's not as easy as you mentioned.
@jellybeans77 it is possible, but documentation bohut hota hai. We are a section 8 company. But yes, we run everything legally. Abhi illegally run karega koi toh at a point anything bandh hojayega. With political support, you can run any business. Trust us. We are a section 8 npo, and we have sub companies under this. It is easy. As an experienced businessman, I am saying. If you want, you can join our organization too
I am a CA and I practice in Telangana. Here it much stricter. But yes you are right that with connections or even bribery you can get it done. Having the right connections is the tough part@@Dharmasarvashreshtha
Nikhil Bhai That’s the insight which is available online bhai..thats the wrong catch..I gotch you 😅😅..BTW good job with your podcast bhai..loved it completely as compare to anyone..the real learning I get from your podcast only in india podcast I am talking about..
In private limited, you can take decisions on your own but in partnership, I guess you should have mutual decision which sometimes don't work. Correct me, if I'm wrong.
Opc is also a pvt company. The only difference is opc has only one shareholder were as pvt Ltd can raise money from private ventures just by diluting the equity.. Companies act 2013 has much more bifurcation on opc ..
Partnership allows u to tax profits in the hands of partner where u have the slab system , say 5 partners so u get 5 slab rate benefits. Also in a pvt ltd when u withdraw funds it is again taxed as dividend , so double taxation. So much sense for family owned businesses to do a partnership
Abe chutiye par pvt Ltd me double taxation h tu company ke profit pe bhi tax dega fir dividend se profit withdraw krega ya salary lega unpe bhi tax dega . Thodi accounts padhke comment kr leta bhai
Work for someone else . Create a prototype , market it well online and offline . Sell more create a revenue . Get into a partnership with like-minded people
LLP is best option for the perspective of first generation entrepreneurs or A person who don't have experience before handling the business. 1. Because LLP compliances acceptable to register in govt as a startup criteria. 2. As a same time we can divert our shares for share holders. 3. Registration of compliances are 40% lower than private limited. 4. No need frequent of quarterly auditing filling. If you handle your capital investment morethan 1.5 crore then after you can switch the company registeration to private limited. Otherwise private limited, LLP and OPC this three types of models has proivde limited liabilities to their directors or managing partners.. Thanks me with heart..
Dhanda to ye dono karte ha.... itna bada company 2500Cr ka profit banate ha.... company mei sirf 20 employees ha.... maintenance+ salary mei maximum 20Cr v lelu... to 2480Cr khudke account mei ha😂😂😂
If you are making a drone company you’ll probably assemble parts from Robu on a UA-cam video, 3D print a useless part and pitch to everyone why you are 10B $ company. Raise some money on half the valuation and do drone light shows using interns and probably not make money for the next decade. After all your drone can’t do anything you pitched.
@@Anomander5622 tumhe mtlb hi nhi pta kaam krte kya hai CAs ka aur power kya hai tbhi kehre AI replace kr skte hain. Na job overrated hai, na overpaid.
He asks basic questions because he is inquisitive. He has the humility to learn and grow, and that is the most exceptional quality to have and maintain specially after you've become as big as he is. No ego whatsoever. Also this is for the masses, if he doesn't ask basic layman questions this podcast won't help normal people like us alot
Finally someone spoke up
In every case CA is eating monthly maintenance charges 😂😂
thats his job... its not his problem that you want to do business... its yours... stay happy in your job
@@dhawalvora9585you are ca an 😂
True. Today CAs are only filing returns. No insights. No strategies. The govt has made tax computation so complex that they make enough for the day filling just returns of 10 clients.
AI will take over the middle management eventually
@@SantanuProductionsmate it’s filing, I know it isn’t the crux of the issue but still😅
@nikhil kamath Be pvt ltd or LLp you can raise additional capital there is no need to be just pvt ltd. Ownership still vest in llp as well. Instead LLP is simple than pvt ltd, you escape all the corporate compliances and easily manage your business
It's not you who decide investors prefer to invest in LLC than LLP due to many factors.
So if you want a investor on then you will need a LLC.
@@eldredpaulvaz7401 there was discussion on LLP and pvt. Ltd and not LLC(not an Indian concept)
@@divyagothi pvt ltd and ltd are kind of llc only
Here the company Is legal entity and not its members
LLP depends more on the partners so investing in LLP is headache
Lots of charges fines
Taxation
Only Stat Audit are mandatory in Pvt. LTD. However post 40 lakhs you still need to do audit in llp as well.
@@eldredpaulvaz7401i am about run a commerce website what wud u recommend me llp lllc or any other stuff.
Drone company in india should always be partnership.. with the legend drone Pratap 😅
Stfu and try building something whether copied or original
😂
There will always be someone who writes my mind in the comment section😂😂.
Nikhil sir, really really love you sir 🎉🎉🎉🎉🎉 best content from the mouth of a billionires
none of them are billionaires
@@TuringTested01ayy nimmaun nikhil and nitin are billionaires😂
If he wants to open a company then why did he consider LLP and Partnership... these are firms not company... lol😂 company can be pvt. Or can be public ltd.
This guy cheated in a charity game😂
Lonavala me uska land miltha hai, jaake taareef karo
In any business, if you make >10L/year you pay 30% Income tax + cess. You also pay ~18% GST on your own products or service.
So total 48% tax.
With the remaining 52% whatever you purchase for office or home, you again pay a 5-28% GST (say avg 10%). So you pay approximately 58% as tax to the government for anything you do. This money is used to build our infrastructure.
The beggar on the strreet and those who do dont pay taxes, save this money and still enjoy this money. The govt does not help those who pay tax. Instead they are often subjected to tax notices.
Thats not how it works
Calculation is way off but point is the actual tax payers are getting very less worth in return to their tax payment. Most people i.e. very rich and those using cash payments are evading tax.
@@axel3895 ua-cam.com/users/shorts0OQRJm8yYw0?si=LvgoSLaurUbXUfJj
That's not how it works. First,Remove GST from the picture as the consumer pays the GST. 2nd even beggar pays tax as GST when he buys something.
3rd how tf you got the idea to tax a beggar.
@@josephadithya If market cost of a commodity is 100. To remain competitive we try to absorb the GST and sell for 82 plus 18 GST. You may be an accounts guru, but I have been doing business for years. We know our problems.
I had a pvt ltf for my company AdsGroo but balf if our profits was taken into taxes then we chnages to proprietorship and now I have multiple ways to pay 0 in taxes legally.
Pvt Ltd for start up recognition also
As regards start up recognition, even llps and partnership are considered as startups
Go for section 8 2013. Register your company as NPO and open sub companies under that
sounds easy but it's not. Section 8 company are created for a not for profit activities like sports, music or such other things.
and also getting approval for creating section 8 attracts a lot of scrutiny from ROC so it's not as easy as you mentioned.
@jellybeans77 it is possible, but documentation bohut hota hai. We are a section 8 company. But yes, we run everything legally. Abhi illegally run karega koi toh at a point anything bandh hojayega. With political support, you can run any business. Trust us. We are a section 8 npo, and we have sub companies under this. It is easy. As an experienced businessman, I am saying. If you want, you can join our organization too
@@jellybeans77 we are in the USA and India as of now.
@@Dharmasarvashreshthawhat benefits it gives in terms of taxation
I am a CA and I practice in Telangana. Here it much stricter. But yes you are right that with connections or even bribery you can get it done.
Having the right connections is the tough part@@Dharmasarvashreshtha
Ageing Global population could be the next opportunity. Will be interested to join your team if Nikhil / Nitin have plans to take this forward
Nikhil Bhai That’s the insight which is available online bhai..thats the wrong catch..I gotch you 😅😅..BTW good job with your podcast bhai..loved it completely as compare to anyone..the real learning I get from your podcast only in india podcast I am talking about..
In private limited, you can take decisions on your own but in partnership, I guess you should have mutual decision which sometimes don't work.
Correct me, if I'm wrong.
It might be best to have company registered under the Companies Act for raising funds but LLP and Partnership can also raise funding.
BAHOT GYAAN-BHARI BAATEIN going on.. will definitely watch..
You need approval from Drone pratap which is not that easy
Very wrong...a LLP can be converted to Pvt Ltd...ask your CA...not some random people saying anything...
Drone Prathap taking notes 😂
One person company
Opc is also a pvt company. The only difference is opc has only one shareholder were as pvt Ltd can raise money from private ventures just by diluting the equity..
Companies act 2013 has much more bifurcation on opc ..
Pvt ltd tax is 25.17% whereas partnership tax is 30%
Besides that funding options are various in Pvt ltd company
Partnership allows u to tax profits in the hands of partner where u have the slab system , say 5 partners so u get 5 slab rate benefits. Also in a pvt ltd when u withdraw funds it is again taxed as dividend , so double taxation. So much sense for family owned businesses to do a partnership
Pvt off. has many compliance. Plus if you take out money as dividend, double taxation.
Abe chutiye par pvt Ltd me double taxation h tu company ke profit pe bhi tax dega fir dividend se profit withdraw krega ya salary lega unpe bhi tax dega . Thodi accounts padhke comment kr leta bhai
@@annamalaian0711agreed, too much compliances.
Talk to any CA and you will get the pvt ltd option for taking capital later on...not a great "insight"
Well then your defination of "insight" is beyond what other understood in the context of this podcast.
He is a ca and he want money for that
Brightest minds
LLP owned by a trust and the beneficiary is the true owners of the LLP company. 😉
❤❤❤❤
Ganesh bro what are you doing here
nice tip for a startup
I'll Play Zerodha Gambit
Pvt. Company public ke pas se funding nhi le sakti , kya ye sahi he ?
It didn't matter today henry is a legend
What about Single Director Company ?
Very basic commerce. 😮
How can someone from a non wealthy background start a drone company without external capital?
Its not for you bro!
Be a top tier scientist
' IF I WERE TO '
' IF I WERE TO '
Work for someone else .
Create a prototype , market it well online and offline . Sell more create a revenue .
Get into a partnership with like-minded people
Prathap in king in this 😂😂
Prathap left the chat 😂
sir your are saying that u can raise capital in a pvt ltd company how is it possible as they cant sell their shares to the public
LLP is best option for the perspective of first generation entrepreneurs or A person who don't have experience before handling the business.
1. Because LLP compliances acceptable to register in govt as a startup criteria.
2. As a same time we can divert our shares for share holders.
3. Registration of compliances are 40% lower than private limited.
4. No need frequent of quarterly auditing filling.
If you handle your capital investment morethan 1.5 crore then after you can switch the company registeration to private limited. Otherwise private limited, LLP and OPC this three types of models has proivde limited liabilities to their directors or managing partners..
Thanks me with heart..
Why always the currency images in the videos need to be dollars, why cant be rupee?
Can you tell me the name of the podcast?
No
@@aryankushwaha1964😂😂😂😂😂😂😂🤣
Bhai ye sabh toh har commerce ke student ko pta hota hI apko kase nhi pta??
Let say i am making a drone company!!!
Then asking should it be company?
concult CA
Or else consult an Expert
Dhanda to ye dono karte ha.... itna bada company 2500Cr ka profit banate ha.... company mei sirf 20 employees ha.... maintenance+ salary mei maximum 20Cr v lelu... to 2480Cr khudke account mei ha😂😂😂
Well woh kaam bhi toh kara utna 😂😂, 6years he lived in his office
toh
Their cto must be getting paid like 5-6cr atleast
They worked very hard and smart, they didn't even have IIT/IIM tag, so you can understand.
They've worked very hard without taking any funding
Brilliant question, lazy answer😅 better answers were expected from these people
If you are making a drone company you’ll probably assemble parts from Robu on a UA-cam video, 3D print a useless part and pitch to everyone why you are 10B $ company. Raise some money on half the valuation and do drone light shows using interns and probably not make money for the next decade. After all your drone can’t do anything you pitched.
Stilp remember the chess fraud you did?
😂😂😂😂 keh Raha that's not an easily available insight. CA foundation k bachhe ko pta hoti h ye baat
Abe to kya chahte ho tumhara dhanda band ho jaye. Shanti se khush raho ki tumhari zarurat hai. Dekh lo kahi AI kha na jaye tumhari overrated job
@@Anomander5622 tumhe mtlb hi nhi pta kaam krte kya hai CAs ka aur power kya hai tbhi kehre AI replace kr skte hain. Na job overrated hai, na overpaid.
@@rishikadubey8046 overpaid to nahi hai most ca kaudi ke bhav kamate hai 😂
Bhai pehle zerodha sambhal lo , Aaj fir technical glitch ke kaaran logon ka lakhon ka nuksaan hua. Pichle hafte bhi hua tha.
Seems like me and nikhil is having almost same level of knowledge
He asks basic questions because he is inquisitive. He has the humility to learn and grow, and that is the most exceptional quality to have and maintain specially after you've become as big as he is. No ego whatsoever. Also this is for the masses, if he doesn't ask basic layman questions this podcast won't help normal people like us alot
Bro the entire point of his podcast is to break down industry jargon and make it accessible to everyone
Sir if u cud speak in lay man’s terms 😅
Don’t be lay man😂
Firr wohi Saxx.Suxx ki baatein😂
Nikhil bhai hindi mai aao
Ya these guys will take money with them when they die 😅
No they will live with the sense of freedom until they die. Stop villifying wealth.
@@uk94791 I didn’t vilify wealth & u stop poking ur nose in other’s comments
You should be a co-op
You should be banned
@@aryankushwaha1964 lol
Nikhil is so interrupting and irritating person