Company Registration

What Process for Liability Partnership Registration in Chennai?  "Call Our Business Plan Experts at +91-72999-72500" Turning a Partnership Firm into an LLP in Chennai is considered as a smart business decision because it protects the rights of partners as well as minimises their liabilities. It also gives an advantage of being a more organised structure for running the business as compared to general partnerships. To register a Limited LiabilityPartnership Consultant , a duly filled Form 3 along with the LLP Agreement is required to be filed with the RoC. This form needs to be e-signed by all the designated partners with their DINs/DPINs/PANs. It requires details like the name of the proposed LLP, its registered office address, proof of identity and address of all the partners (like passport size photographs, Aadhar Card/Voter ID) and addresses (as per the utility bills), the date of commencement of business, capital contribution by each partner and profit-...

Process for Partnership Registration in Chennai  "Call Our Business Plan Experts at +91-72999-72500" If you are thinking of setting up a partnership firm in India, you must get the partnership deed registered with the local authorities. This will ensure that your business is protected against any misunderstandings or disputes in the future. In addition to this, you will be able to avail of the benefits that come with being a registered business. The main reason why it is recommended to get a partnership deed registered is that it mentions all the essential terms and conditions of your business in a legal agreement. It will include the details of profit/loss sharing, rights and duties of the partners, future admission of new partners, rules to be followed if a partner goes bankrupt, etc. Additionally, the partnership deed will also specify whether your business is a sole proprietorship or a limited liability company. Along with the partnership deed,...

Who Can Apply For MSME Registration in India  "Call Our Business Plan Experts at +91-72999-72500" The MSME sector has emerged as a highly dynamic segment of the economy. The government has been enacting various schemes to support the growth of these enterprises and provide them with a host of benefits. However, to avail these benefits, you need to get your business registered as a Micro Small and Medium Enterprise under the MSME Act. At LegalFidelity, we help entrepreneurs get their business registered as a MSMEs and avail these benefits. Any business entity can get itself registered as a MSMEs as long as it meets the set criterion. It can be a limited liability partnership (LLP), a private limited company, or even a public company. Similarly, it can also be a sole proprietorship or an Hindu Undivided Family. However, the business should have a valid Aadhar number to qualify for MSME registration Consultant in Chennai . Once the application is complete, an ...

How to Get GST Number for Sole Proprietorship Company in India  "Call Our Business Plan Experts at +91-72999-72500" Proprietorship Firms can get gst number by registering themselves on GST Network Portal, after that filing gst returns on a monthly basis. This will help them in keeping track of their business income, maintain compliance and prevent penalties from the government. If you are running a Sole Proprietorship Business and have an annual turnover of over Rs 20 Lakhs then it is mandatory for you to secure GST registration. To register, click on ' New GSTRegistration ' on the left sidebar on the GSTN website. Fill in the basic details like your name, date of birth, address, mobile number, email id and gender. Also, mention the type of business you are running. In the next tab, upload the documents required for gst registration. The list of required documents is as follows: Verify the details that you have entered and then select the a...

Post Incorporation Compliances for a Private Limited Company "Call Our Business Plan Experts at +91-72999-72500" A Pvt Ltd Company provides numerous benefits like it allows for multiple shareholders, grants the ability to raise funds and scale over time, enables the company to claim input tax credit, and gives credibility in the eyes of investors. However, obtaining a certificate of incorporation is only the first step in forming your business. There are a number of post-incorporation statutory compliances that need to be fulfilled by the company within a set time frame. Not adhering to the requisite rules and regulations may result in heavy penalties. Firstly, the Private Limited Company has to arrange its first board meeting within 30 days of its incorporation. The meeting will need to discuss various aspects of the company such as its objectives, name, registered office address and share capital etc. Additionally, the board will have to appoint its fir...

How Women Entrepreneurs Can Start Business in India "Call Our Business Plan Experts at +91-72999-72500" There's no denying that there has been an upward trend in women pursuing their entrepreneurial aspirations. According to a report by credit bureau TransUnion CIBIL, women are increasingly overcoming one of the biggest obstacles in entrepreneurship—access to finance. Last year, the number of women taking business loans increased by over 15%, and they're making up a growing share of the credit-seeking population in semi-rural and rural areas. A few examples of such Women entrepreneurs who've defied norms and taken risks abound. Their stories are a testament to the fact that no matter how many obstacles you face, if you have the grit and strength of purpose, it's only a matter of time before you reach your goal. While the term "entrepreneur" is now a popular one and gender neutral, it still raises eyebrows whenever women def...

How Can a Non-Resident Indian Register a Business in India? The Indian economy is growing at a steady rate, and it's no surprise that NRIs and foreign nationals are eager to invest in this country. However, before you decide to register a business in India, it's important to know the rules and regulations that govern these types of investments. In this article, we'll take a look at the ways that an NRI can register a business in India. NRI means Non-Resident Indian . A person is considered an NRI under the Foreign Exchange Management Act (FEMA) if they are a citizen of India or of Indian origin and are living abroad for an uncertain period. This could be for employment, business, or a combination of reasons. An NRI can start a company as a sole proprietorship or partnership if they meet the necessary requirements for registration. This includes registering for taxes, complying with labor laws, and adhering to safety standards. It's also a good i...

What is the difference between an OPC company and Proprietorship Company? "Call Our Business Plan Experts at +91-72999-72500" The one-person company, which was incorporated under the 2013 Companies Act, allows a single individual to be the shareholder and director. There are a few companies that have to be met, such as getting the accounts audited and filing annual returns. However, the OPC is a great option for entrepreneurs looking for something more than a sole proprietorship but less cumbersome than a private limited company. An   difference between OPC and Proprietorship   Incorporating an OPC makes the business a separate legal entity, with its own assets and debt. This can help limit the owner's personal liability and provides more legitimacy to the business, as compared to a sole proprietorship where there is no separation. Additionally, the OPC allows easy access to funding and lending as it can be seen as a credible business entity with b...

What Are the Differences Between LLP Company and Partnership "Call Our Business Plan Experts at +91-72999-72500" The business structure you choose will have significant short and long-term implications for your company. You will want to carefully consider your options and discuss them with your attorney, accountant, and tax advisor before making a decision. One important difference is the level of personal liability and the formal legal status. This article will explore the differences between a limited partnership (LLP) and a general partnership. The difference between a partnership and an LLP  is a business entity that is owned and managed by partners. There are usually two or more partners who share in the profits and are jointly and severally liable for the debts and losses of the LLP, unless the LLP is formed as a limited partnership with one or more limited partners. A written partnership agreement specifies management duties, responsibilities and liabiliti...

How to Form a LLP Company in India "Call Our Business Plan Experts at +91-72999-72500" LLP is the ideal business entity for start-ups looking at reducing their tax burdens. It provides the flexibility of a partnership firm and the benefits of a company, such as limited liability protection of the members. However, unlike a private limited company, an LLP is not eligible to raise funds from venture capitalists. The LLP structure also allows for the transfer of shares without the need for dissolution of the LLP. Further, it is easier to relocate or operate across India as compared to a partnership firm which needs the approval of the Registrar of Firms to move locations. Additionally, if the number of partners in a partnership firm falls below 2, it must be dissolved, whereas with an LLP, a new partner can be found easily. When registering an LLP, the identity proofs of all Designated Partners are required. These can be a Voter ID, Passport, Driving...

Benefits of Private Limited Company Registration in Online "Call Our Business Plan Experts at +91-72999-72500" When a business venture starts it needs to get registered with the Ministry of Corporate Affairs (MCA) in order to operate smoothly. The registration process is not only necessary but it offers several benefits to the company. When you register your business as a Private Limited Company Consultant , you will become a separate legal entity. This will help you to separate your personal assets from the liabilities of the company. Additionally, it will be easier for you to raise funds and open bank accounts. Furthermore, you will have the option to convert your company into a public limited company by issuing an IPO. A major advantage of a Private Limited Company is that the directors and shareholders have limited liability. This means that if the Company goes bankrupt, only the Company's assets will be utilized to pay off any debts or ot...

Trademark Registration Online in Bangalore "Call Our Business Plan Experts at +91-72999-72500" Trademark is an intellectual property right obtained for certain names, recognizable sign, symbols, designs, numerals or combinations of colors used by companies for identifying their products and services from those of competing entities. It distinguishes a brand from the competitors and helps customers easily identify the origin of goods or services. It can be registered by an individual, company, firm, or legal entity. The first step in the  trademark registration process Consultant online in Bangalore   Getting your trademark approved is not as simple as coming up with a creative name or logo and filing it. It is a lengthy process that involves ensuring that your mark does not bear similarities or resemblance to any existing registered marks. This is why it's always best to get legal counsel. It will cost you more upfront but can save you a lot of has...

GST Registration Process Online in Chennai If you are a business owner, it is important to know about the GST registration process online in Chennai. This will ensure that you have the correct tax details and can provide accurate invoices to your customers. Additionally, this will also help you file your GST returns in a timely manner. Besides, it will help you keep track of your GST account and avoid any penalty for late filing. GST is a single, destination based indirect tax levied on the value addition of goods and services at each stage of the supply chain. It subsumes multiple indirect taxes, thus making it simple to manage and administer for businesses. It also makes the process of claiming input tax credit simpler and quicker. GST registration is mandatory for entities with sales above the threshold limit, but voluntarily registered businesses can apply as well. The system will also help you set a unique username and password, which you can use to log i...

ROC Annual Filings Process Online in Bangalore The new act provides for two modes of striking off companies – the ROC itself would strike off the name of the company from its records and the other mode is when the creditors of the company request the ROC to do so. It is estimated that about 209,000 companies are likely to be struck off by the ROCs in this fiscal. Annual Filing consists of preparation and submission of Audited Balance Sheet, Profit & Loss Account, Form MGT-7, Form AOC-4 and filing of Income Tax Return (ITR). Charges for this work are specific to every client and depend on the scope of work that is to be executed. It is compulsory for a Private Limited Company having paid up share capital of Rs 10 crore or more or turnover of 50 crore rupees or more to get its accounts audited once in a year by an accredited Chartered Accountant. It is also mandatory for an LLP to get its account audited once in a financial year if the contribution or turnover of the LLP...