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Unit 10: Tax Planning for Different Organisations
Unit 10: Tax Planning for Different Organisations Notes
CONTENTS
Objectives
Introduction
10.1 Decision Regarding Forms of Organisations
10.1.1 Forms of Business Organisations
10.1.2 Factors Involved in Selection of Organisation
10.2 Tax Planning for Sole Proprietorship
10.2.1 Tax Aspects of a Proprietorship
10.2.2 Advantages of Sole Proprietorship
10.2.3 Disadvantages of Sole Proprietorship
10.3 Tax Planning for Partnership
10.3.1 Position of Firm under the Income-tax Act
10.3.2 Provisions Relating to Taxation of Partnership Firms
10.3.3 Income Tax rates for Partnership Firm
10.3.4 Advantages of a Partnership
10.3.5 Disadvantages of a Partnership
10.4 Tax Planning for Company
10.5 Summary
10.6 Keywords
10.7 Review Questions
10.8 Further Readings
Objectives
After studying this unit, you will be able to:
Discuss the Decision regarding Forms of Organisations
Describe the Tax Planning for Sole Proprietorship
Explain the Tax Planning for Partnership
Elucidate the Tax Planning for Company
Introduction
According to the organization form, the enterprise types include individual proprietorship
enterprise, partnership enterprise and limited corporation which can be divided into limited
liability company and joint stock limited partnership, and because the tax system regulates
different tax burden levels for the enterprises with different organization forms, so the
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