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Transcript

Comparison - Proprietorship Vs Partnership Proprietorship Only 1 Pan Card for Firm and ProprietorNormal Slab Rate Applicable Rebate of 12500 if Income between 250000-500000 Cess 4% Cess 4% Section 80C,80D,80G,80TTA Benefit Partnership Partnership Partnership Separate Pan Card for Firm and partners 30% Tax Slab Rate Applicable Tax to be paid Even if Income upto 250000 Suppose Income =100000 Tax =30000 No Rebate for Partnership Cess 4% No 80C,80D,80TTA (But 80G Applicable)

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.