Hence the person should be thorough with his choice Disadvantages of One Person Company Taxation: Both One Person Company and private companies are put under the same tax slab by the income tax department.
To close a Private Limited Company, Every director of the company should comply with the provisions of the Companies Act 2013, There are many ways by which company could be wound up.
Overview Every company is registered under Companies Act 2013 and as per sec 139, every private limited company is required to appoint an auditor within 30 days of incorporation.