Company formation

[Sahadev Maity]

Dear Experts,

I am going to start a manufacturing company. My company's business would be only B2B. For set up total cost would be around 70lacs and I need to borrow loan amounting Rs-20 to 30 lacs rest would be own investment. Kindly suggest me what should be the company's type between Proprietorship, LLP or Pvt Ltd which will help me to get loan easily from banks and repayment benefit and other taxable liability.

In my family my father, mother and me all are tax payer and runing 3 different hotel business.

Kindly give me detailed idea about the pros and cons.

Thanks,

Sahadev Maity

AI Summary

Individual Seeks Advice on Choosing Business Structure for Manufacturing Startup: Proprietorship, LLP, or Private Limited? An individual planning to start a B2B manufacturing company seeks advice on the most suitable business structure-Proprietorship, LLP, or Private Limited-to facilitate loan acquisition and manage tax liabilities. With an estimated setup cost of 70 lakhs and a loan requirement of 20-30 lakhs, the individual, along with their tax-paying family members, is considering forming a Private Limited company. Experts in the forum suggest that a Private Limited company is more favorable for obtaining loans, and tax liabilities would remain consistent across business structures. The discussion confirms that tax status does not affect company formation.