Company Registration - Private Limited

Who Are Eligible For GST Registration in India Under the new tax regime, any business with a turnover of up to Rs 20 lakh is eligible for GST registration. This is a considerable increase in the threshold over the earlier VAT and service tax limit of Rs 5 lakh, which exempted many small traders and service providers. Additionally, a person can register for GST in all the states that they supply goods or services to, unlike the previous practice where people were required to get registered separately in each state. This will help in preventing tax evasion and reduce the burden on small businesses. Applicants can file for GST registration through an online process, which is simpler and faster than the old method. They need to visit the GST portal and fill up Form GST REG-01. They should select 'Taxpayer' as their type of taxpayer from the drop-down list and enter their PAN, mobile number, and email address in the respective boxes. After this, they need to cli...

What Are the Compliance Required for OPC Private Limited Company The One Person Company (OPC) is a revolutionary concept introduced by the new Companies Act of 2013. The OPC allows a single person to incorporate a company. This is possible because it combines the benefits of a proprietorship with those of a public or private limited company. It separates the personal assets of the owner from those of the business and offers protection against liabilities of the company. It also provides perpetual succession and the right to transfer ownership. However, like any other entity, the One Person Company is bound to comply with mandatory annual compliances. It is essential to carry out these compliances on time to avoid heavy penalties. The mandatory compliances for OPC are income-tax returns filing, financial statement filing, and Form DIR-3 KYC filing of Directors. Despite the fact that it is a single-member company, the OPC can appoint a nominee in its Memorandum o...

What Are the Procedures for Formation of LLP in India A limited liability partnership is a separate legal entity and enjoys the privilege of holding, purchasing or disposing of assets as per its wish. It also can sue or be sued in its own name. To begin with the process of LLP registration , you need to draft an agreement amongst the partners and submit it along with other mandatory documents. The document to be submitted should include details of the authorised persons and their roles and responsibilities, capital contribution of the LLP, date of commencement of the LLP and the address of the registered office of the LLP. Moreover, the document should be signed by all the partners. Once the agreement is drafted, you can start with the process of filing the incorporation documents with the MCA . For this, you need to submit copies of authorization letter (in case of foreign national) or DPIN (in case of Indian National), PAN card and other identity proofs of the...

Why is IT Filing Mandatory in India Whether you are an individual or a company, it is your duty to file taxes. This is because filing taxes helps you get a number of deductions that reduce the tax you pay at the end of the day. In addition, it also lets you claim refunds for any overpayments. In this article, we will discuss why it is important to file your taxes, the process involved in doing so, and how you can benefit from it. E-filing is the process of submitting your tax returns via the internet. It is popular among individuals as it offers a variety of benefits that makes the process easier and more efficient. However, e-filing is not mandatory for all taxpayers. Only those who earn more than the basic exemption limit of Rs 2.5 lakh (for those below 60) or Rs 3 lakh (for senior citizens) or Rs 5 lakh (for super senior citizens) have to file their taxes online. Once you have filed your returns, it is crucial to verify them. Verification is done by sending ...

How to Incorporate a New Limited Liability Partnership Registration India The LLP is an excellent choice for small- and mid-sized businesses with a few key employees. It is a tax structure that provides limited liability and offers flexibility for capital contributions. In addition, the management structure is more streamlined than that of a corporation. For example, instead of multiple shareholders, the company's directors and partners have votes on decisions. To register a new LLP , the partners will need to submit personal details like PAN card and address proofs. The name of the LLP must be unique.  If you're using a commercial space, you will need to get an NOC from the landlord. The LLP will also need to submit documents showing its capital contribution.   Next, the LLP will need to submit its registered office address. This can be a home or business address, depending on your preferences.  You can conduct a free name search on the MCA portal to ens...

What Are the Documents Required for Company Registration in India When it comes to registering a company, one needs to go through various legal formalities. The entire process is quite exhaustive and even a minor mistake in collecting the documents can result in the application getting rejected or delayed by a few days. To avoid any such problems, the directors or founders must gather all the important documents required for firm registration in India and follow the right procedure. In this article, we will provide you with a comprehensive list of the crucial documents that are required for company registration in India. We will also help you with the procedure to collect them. Whether you are an Indian or a foreign national, these documents will ensure that your company gets registered with ease. The first and foremost requirement for a person to become a director of an Indian company is to obtain a DIN (Director Identification Number). This is a unique number that will ...

How to Register Private Limited Company Online in India One of the most popular forms of business for foreign and domestic businessmen in India is the private limited company. This legal entity can raise capital from investors and can benefit from the tax advantages that come with this form of business. There are many requirements for registering a company, however, and it's important to be aware of them. To start a private limited company , the first step is to reserve a name with MCA. Next, the company must prepare its Memorandum of Association (MOA) and Articles of Association (AOA). These documents will define the purpose and rules of the company. Once these documents are ready, the company can file an incorporation application with MCA. Once the application is filed, a Certificate of Incorporation will be issued to the company by the Registrar of Companies. This will contain the date of incorporation and a unique registration number. The company can ...

How to Register Annual Filing in India There are sure compliances which Company/LLP is required to document alongside a couple of documents and returns. The annual filing is one of them and as per the Companies Act there are several forms that need to be filled by the Company. It incorporates the annual return draft, revelation by Directors and refreshing the Statutory Register among others. Keeping up with these compliances is an essential need for the Company as any neglectfulness can prompt punishments for the Directors or the Company. ROC stands for Registrar of Companies and a Government Organization. They are entrusted with the duty to register and keep up records of companies in different states/union territories across India. Moreover, they additionally manage the direction and administration of these organizations. In this article, we will discuss How to ROC Annual Filing of Company in India and the steps that need to be followed by the company to ens...