A private company is an entity registered with the Registrar of Companies under the Ministry of Corporate Affairs of the Government of India. In a private company, the shares are privately held by the members or investors. The liability of the members will be limited to the value of shares subscribed. It cannot offer its share to the general public as it is restricted. The private company should use the suffix after its name Private Limited (PVT LTD).
A Public Limited Company is a company registered with the Registrar of Companies under Ministry of Corporate Affairs of the Government of India has limited liability and offers shares to the general public. It can get listed on the stock exchange to sell its shares in the stock market. Its stock can be acquired by anyone, either privately through (IPO) initial public offering or via trades on the stock market.
A Limited Liability Partnership firm (LLP) is an entity registered under the LLP Act, 2008 governed by the Ministry of Corporate Affairs of India. In an LLP the business is carried out in a corporate framework, guided by terms of the mutually adopted partnership deed which makes the liability of the Partners limited.
Charitable organization whose primary objectives are providing relief to the poor, education, medical relief, preservation of environment /monuments, advancement of objectives of the general public utility, religious purpose, etc.
Generally, Medical colleges(Private), Engineering colleges(private), Schools, Colleges, Orphanages, old age homes, religious institutions such as Temples, Churches, Mosk, etc are formed as Charitable /Religious Trust in order to avail Income Tax exemption.
A charitable organization can be formed under any one of the following Acts:-
Nidhi Company is a company registered under Companies Act and notified as a Nidhi company by Central Government under Section 620A of Companies Act, 1956. It is a non-banking finance company doing the business of lending and borrowing with its members or shareholders. Nidhi Company can only do business of accepting deposits and lending money to its members only. It cannot deal with the public directly and can only work with its members.
One Person Company (OPC) is a business entity registered under the Companies Act, 2013, in which there is only one owner with limited liabilities who can act both as a shareholder as well as the director. In OPC entrepreneurs are capable of starting a venture by allowing them to create a single-person economic entity. The concept of OPC is basically to eradicate the limitation of a sole proprietorship, which is the most popular form for small businesses in India. The liability of the owner is limited to the invested capital in the OPC.
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