Non Corporate Entity

A non-corporate entity is an organization formed by individuals to run a business venture in order to make and earn profit. These forms of organization do not have separate legal entity. The ownership and management is one and the same.

Types of non-corporate entity:

1. Partnership-A partnership is a business entity having two or more owners. Earnings are distributed according to the partnership agreement and are treated as personal income for tax purposes. ach partner is jointly and severally liable.

2. Sole-Proprietorship-A sole proprietorship is a business of one without corporation or limited liability status. The individual represents the company legally and fully. Common proprietorship structures include part-time businesses, direct sellers, new start-ups, contractors, and consultants.

3. Society-Any seven or more persons associated for any literary, scientific, or charitable purpose, or for any such purpose, may, by subscribing their names to a memorandum of association, and filing the same with Registrar of Joint-stock Companies 2 form themselves into a society under this Act.

4. Trust-A trust is an agreement between people (called trustees) to manage property over which they have control either to benefit other people (called beneficiaries) or for charitable purposes. The trust is governed by the terms of the (usually) written trust agreement and local law.


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 Non Registered Partnership Firm Rs. 1500/- Plus Stamp Value

 HUF deed Rs. 2,000/-

 Registration of Society Rs. 5,000/- plus Govt. fees ,Plus out of pocket expenses

 Formation of Trust Rs. 5,000/- plus Govt. fees ,Plus out of pocket expenses


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