Proprietorship or Private Limited Company? Which one you must choose?

Are you planning to start a new company? Are you in a spree of getting into Entrepreneurship? Wow, that is a great Idea. Now you have shifted your focus from 9 to 5 Job to building a new venture which might turn up as a legacy for your family. Proprietorship or Private Limited Company? Which one is the best suited for your business, let us discuss?