Which Business Structure Better Company or Partnership / Association of Persons

Difference Between Partnership Firm and a Company
AS TO LEGISLATION
Partnership regulated under Partnership Act 1932, Company is regulated under companies Act, 2017.
AS TO LEGAL ENTITY
Partnership has no legal entity, Company has separate Legal Entity.
AS TO CREATION
Partnership is created by a Simple Agreement. Incorporation of Company required formalities to be observed.
AS TO TRANSFER OF SHARE
Partner cannot transfer his shares without the consent of the other Partner. In Company Shares are easily transferable.
AS OF MEMBERS
In Partnership Minimum Two Partners and Maximum Twenty Partners are allowed. In a Company the Members Minimum Two and maximum according to the shares.
AS TO LIABILITY
Partners has unlimited liability under Partnership Firm. Liability under Company is limited to the value of Shares.
AS TO MANAGEMENT
In Partnership every Partner may take active part in the Management of the Business. In company Management is carried on by Directors.
AS TO AUDIT
Audit is not compulsory by law under Partnership Firm. Audit is Compulsory by law under the Company.
DISTRIBUTION OF PROFIT
Profit is distributed among the Partners according to the ratio defined in Partnership. Deed. Profit is distributed among Directors according to their shareholding in Company.
AS TO SUCCESSION
In case of Transfer of Share or Inheritance Partnership is seriously affected. Shares of the Companies are transferable to the heirs of member/Shareholders easily.
#DifferencebetweenCompanyandAOP #CompanyVsAssociationOfPersons #PartnershipV/sCompany #TaxationistCorporateConsultants #Taxationist
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[@khan.sisters]

Khurram Sb... ap na samundar ko kozy ma band kr dia... humry mushkil hi asan kr di... 👍👍👍👍😘😘😘😘

[@taxationistcorporateconsultant]

Thanks☺

[@tehsinullahjan]

Very nice discussion, excellent information. I am following you since long. you have a very good knowledge of Taxation and have a firm grip on the subject. Thanks for such a guiding help. Lots of respects from Peshawar.

[@taxationistcorporateconsultant]

Thanks 😊 Tehsin

[@christapostolic1]

Wow , wonderful and complete teaching method .

[@taxationistcorporateconsultant]

Keep watching

[@tahirsaleem4011]

Great Discussion in a very simple manner to understand the Business Taxation. You are really providing comprehensive knowledge. JazakAllah.

[@taxationistcorporateconsultant]

My pleasure!

[@Mini_gamer109]

nice explanation for SECP and AOP differences

[@taxationistcorporateconsultant]

Thanks.

[@ShakeelAhmad-pv4su]

Dear Sir, Thanks for your valuable time & guidance

[@taxationistcorporateconsultant]

All the best

[@babarali3839]

Fabulous Explain Thanks ❤

[@taxationistcorporateconsultant]

You're welcome 😊

[@MuhammadZahid-qq7kp]

very good comparision

[@taxationistcorporateconsultant]

Thanks.

[@farooqsiddiq248]

Very informative.

[@taxationistcorporateconsultant]

Glad you liked it

[@mianmehmoodulhaq3518]

Very informative

[@taxationistcorporateconsultant]

Shukria

[@capitalzoneestategulberg6088]

good information

[@taxationistcorporateconsultant]

Thanks!

[@abumuhammadfarooqiqbal7605]

Very informative video sir

[@taxationistcorporateconsultant]

Keep watching

[@sabir65]

Great informative vedio

[@taxationistcorporateconsultant]

Thanks for watching

[@tauqeertoor82]

Outstanding interpretation .

[@taxationistcorporateconsultant]

Thanks

[@zindagee4u]

Nice infomative video

[@taxationistcorporateconsultant]

Glad you think so!

[@muhammadasif-ng3ok]

To make the liability of the AoP / firm limited, one can form "limited liability partnership" instead of normal AoP

[@taxationistcorporateconsultant]

Yes could be..make LLP but it's comes under Company taxation.. See LLP video available on the channel

[@MuhammadAkhtar-cm9qi]

Good information

[@taxationistcorporateconsultant]

So nice of you

[@Ahmedraza43100]

Sir I think audit k point of view mein ap mistake kr gye turnover one million nai paid up capital one million ho tab audit mandatory hota

[@taxationistcorporateconsultant]

Good Highlight, Thanks.

[@Tragic007]

Agar AOP IT related business main register hai tu ap ko sale tax main exemption hai . But you have to deduct withheld rates from vendors properly. If you are not deducting taxes otherwise your sale exemption will be cancle

[@AbuBakerChoudry]

What about IT Export Services Companies?

[@AbuBakerChoudry]

IT Services Company SMC-Pvt Ltd ki trf jana chahiye ya Proprietorship ki trf jayen..?

[@insafschool4616]

❤

[@taxationistcorporateconsultant]

Thanks.

[@AbuBakerChoudry]

IT Export Services Companies ko Sales Tax m register hony ka koi benefit ya register hona chahye..?

[@AhsanAli-gx7jc]

Salam Khurram sahab,
Can you please let us all know that when we are starting a small scale business in AOP can we convert the same in pvt. Ltd. ? Or we have to shut AOP and register a new firm on same name for Pvt ltd ?

[@taxationistcorporateconsultant]

i think you should shut down AOP ,

[@aatifkhalilassistant2044]

What is difference and benifits of registered aop and un registered aop

[@taxationistcorporateconsultant]

Tax wise same.

[@farukhshakil9651]

Alternate corporate tax, guide please

[@taxationistcorporateconsultant]

See video on my channel

[@javedsiddiqi3893]

Sir minimum tax is payable by every busniss person having turnover above 100 m or it is specific with certain business item/sectors?

[@womenistanthewomensworld5625]

Me aik ngo register krna chah rhe hun secp sy.. lakin ksi ny mashwara diya hai k as a firm register krao..
Kya behtreen ho skta hai ??

[@taxationistcorporateconsultant]

Better to go with SECP.

[@olycompk]

How we make non paying tax aop??

[@taxationistcorporateconsultant]

If you are not paying tax on income of AOP it's called Non tax paying AOP like IT exporter

[@AbhinavTomar-s3w]

Jai shree ram

[@taxationistcorporateconsultant]

Thanks.

[@Eipeipeip555]

make a video on is it better to buy property on pvt limited company name or own name? Please make

[@shahzaibmaher9330]

sir apky whatsup group ma add hona k liya kya karna para ga