Compare Company Types for Registration

A Quick comparison of different Company Types and their obligations before registering a Company.

ParticularsPrivate Limited Limited Liability PartnershipOne Person CompanyPartnershipProprietorshipLimited Company
Popularity
RegistrationRegistration with ROC under 2013 ActRegistration with ROC under 2013 ActRegistration with ROC under 2013 Act No formal RegistrationNo formal registrationRegistration with ROC under 2013 Act
Name ApprovalNeed to be approved with MCANeed to be approved with MCANeed to be Approved With MCANO name approval requiredNO Name approval RequiredNeed to be approved with MCA
Legal StatusSeparate legal entity from Owners, Capital is a Personal LiabilitySeparate legal entity from Owners, Capital is a Personal LiabilitySeparate legal entity from OwnersNO Separate Legal Entity for OwnerNO Separate Legal Entity for OwnerSeparate legal entity from Owners, Capital is a Personal liability
Borrowing
Banks & Personal SourcesBanks & personal Sources
Personal Sources and Banks
Owners RemunerationAllowed as per Agreement (Can't exceed 11% of Profits)Partner's remuneration allowed. Certain restrictionsPartner's remuneration allowed Certain restrictionsAllowed as per AgreementOwner's Salary not allowedAllowed as per agreement
Min v/s Max No of Shareholders/Members2-2002-Unlimited1:12:201-17-Unlimited
Min v/s Max No of Directors1-152-152-152-201-13-Unlimited
Foreign MemberAllowed. But Govt. approval is needed in some casesNeed's Govt. ApprovalNot AllowedNot AllowedNot AllowedNot allowed in Gambling ,Betting Chit Funds and sectors not opened for pvt . ltd
TransferabilityCan be transferred easilyCan be transferredCan be transferredNot AllowedNot AllowedCan be transferred
Income Tax29.87-34.61%(Includes surcharge & Education cess)29.87-34.61%(Includes surcharge & Education cess)29.87-34.61%(Includes surcharge & Education cess)29.87-34.61%(Includes surcharge & Education cess)0-34.61% (Includes surcharge & Education cess)29.87-34.61%(Includes surcharge & Education cess)
Board MeetingsTo be held periodicallyNo needNot AllowedNot AllowedNo needTo be held periodically
Registration CostStarts @ Rs.11,500/-Starts @ Rs.7,000/-Starts @ Rs.10,500/-Starts @ Rs.5,500/-Starts @ Rs.2,500/-Starts @ Rs.35,000/-
Annual Compliance Cost
High
High
High
Medium
Low
High
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