7. Compliance Requirements

Entity TypeCompliance Level
Partnership FirmLow
LLPModerate
Private Limited CompanyHigh

  • Partnership Firm: Requires minimal compliance; needs to file income tax returns.

  • LLP: Needs to file annual returns and statements of accounts with MCA.

  • Private Limited Company: Requires compliance with the Companies Act, including annual returns, financial statements, board meetings, and statutory audits.

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