Home / Services We help you in creating a strong foundation of your business View More GST Registration GST Registration is a mandatory tax registration for all businesses who involve in buying and selling with annual sales greater than 20 lacs rupees or providing services in India. On 1st July 2017, Goods and Services Tax (GST) was introduced by the Indian government to subsume different types of State and Central level taxes such as Service Tax, Luxury tax, VAT, entertainment tax, etc. to offer a consolidated tax structure. This step is aimed to introduce much-needed tax reforms in the Indian tax structure by reducing tax complexities and making the filing of GST returns a completely online process. GST is mandatory for any person with annual turnover exceeds Rs. 20 lacs. Entities located in special category states that have an annual turnover of Rs. 10 lacs are mandated to have GST as well. Those entities which are involved in the sale of goods and services via an e-commerce platform must also register for GST, irrespective of their annual turnover. Apart from this, any person making interstate sales also needs to register for GST. GST helps each step of the supply chain to gain an input tax credit for taxes paid on purchases and also helps entities to collect GST from customers. Any entities apply for GST within 30 days from the date on which entities become liable to register under GST. For Casual Taxable persons and foreigners are required to be registered under GST before starting their business. Advantages of GST Registration Collection of taxes – GST registration helps to collect taxes from customers also pass on the tax credit to customers on purchases made. Input Tax Credit – A customer can claim ITC (Input Tax Credit) for taxes paid on purchases and can utilize the same credit towards payment of due taxes. Seamless Flow – At the national level, GST helps the seamless flow of ITC towards recipients from suppliers. Documents Required For GST Registration For Proprietorship: Copy of PAN card (mandatory). Proprietor identity proof: Passport. Aadhar card. Voter ID. Driving license. Proprietor address proof: Copy of Telephone/Mobile or Electricity bill. Bank Account Statement (Less than 2 months old). Proprietorship Address Proof: Telephone/Mobile/Electricity/Gas bill (Less than 2 months old). In case of rented premises a notarized copy of Rent Agreement with a No-Objection Certificate (NOC) for conducting business. In the case of self-owned premises registered title document. For LLP (Limited Liability Partnership): Copy of LLP PAN card. LLP Agreement. LLP Partners’ names. LLP Partners’ address proof Passport. Aadhar card. Voter ID. Driving license. For Private Limited Company (PLC): Copy of Company PAN card. COI (Certificate of incorporation). MoA/AoA. Board resolution duly signed. Company Director of Identity Proof: Copy of PAN card (Mandatory). Passport. Aadhar card. Voter ID. Driving license. Address Proof: Copy of Telephone/Mobile or Electricity bill. Bank Account Statement (Less than 2 months old). Company Address Proof: Telephone/Mobile/Electricity/Gas bill (Less than 2 months old). In case of rented premises a notarized copy of Rent Agreement with a No-Objection Certificate (NOC) for conducting business. In the case of self-owned premises registered title document. Also, read more about “GST Registration For Foreigners” Registration Process Step 1 Documents & Information – eStartIndia receives information and documents Step 2 GST Application Drafting – eStartIndia will prepare your GST application Step 3 GST Application Filing – eStartIndia will file your GST application and provide ARN number Step 4 GST Certificate – eStartIndia will receive GSTIN (GST Identification Number) and GST certificate and Provided to you Step 5 Congratulations! Your work is done. FAQs Is GST applicable on promotional items/or free samples? Yes. Both stockings, as well as a supply of promotional items/or free samples, is subject to GST. Are separate GST required for multiple branches within same state? Separate GST can be obtained in the scenario when an entity has separate business verticals within the same state. Otherwise, in a single state, only a single GST is allowed per PAN. In case multiple branches are present then one branch can be shown as the principal branch or place of business, while others can be shown as additional places of business. Is it possible that a GST certificate can get cancelled? Yes In t Yes. In the following scenarios: In case a person wishes to cancel his GST voluntarily, or when a taxable person commits a default and his GST certificate is moved to cancel by the appropriate officer. How is the classification of goods and services done under GST? Goods under GST are classified based on their HSN (Harmonised System of Nomenclature) code. Services under GST are classified based on their SAC (Services Accounting Code). Is PAN mandatory to apply for GST? Yes. PAN is mandatory for the GST registration application. What is GSTIN? GSTIN or GST Identification Number is a 15 digit number which is PAN-based and State wise. It is used to uniquely identify businesses which have been registered under GST. Which all entities are exempt from GST? Entities that supply agricultural produce; or those which generate nil-rated or non-taxable supplies of services and goods; or those which are covered under the reverse charge mechanism are exempt from GST. Is any time limit for taking registration under GST? Yes, Any entities apply for GST within 30 days from the date on which entities become liable to register under GST. For Casual Taxable persons and foreigners are required to be registered under GST before starting their business. Related Services GST Registration Read More FSSAI Registration (Easily Register your Food Business) Read More Check your Company or LLP Name Availability Read More Startup India Registration Read More Load More
FSSAI Registration (Easily Register your Food Business)
Home / Services We help you in creating a strong foundation of your business View More FSSAI Registration( Easily Register your Food Business) FSSAI Registration FSSAI (Food Safety and Standards Authority) License The FSSAI license, which is likewise called as the Food License is one of the compulsory licenses essential to open a restaurant and is obtained from the FSSAI Registration(Food Safety and Standard Authority of India). FSSAI is an independent organization which is established by the Ministry of Health & Family Welfare, Government of India. It was formed in August 2011 under the provisions of the Food Safety and Standard Act, 2006. It was in association with the Ministry of Health and Family Welfare, as well as the Central government. FSSAI license mostly serves as the approval of the authority towards the restaurant which makes certain the consumers that the food of the restaurant confirms the food safety standards. FSSAI license is mainly a unique 14 digit registration number that is given towards restaurants, manufacturers, and traders which must be printed on the food packages. This upholds the consumers that they are eating at the right place which followed every of the safety food standards. Who Should Obtain FSSAI Registration? The individuals or entities that are eligible for an FSSAI Registration or License include: Every type of Food Manufacturer. Food Packaging unit or Storage unit. Wholesaling or Trading or Online Food Business Operator. Caters, Hotel or Raw material supplier. Exporter and Importer of food products. Transporter as well as Distributors. Retailers of Food Product. Why is the FSSAI Registration Required? A trader, operator, entrepreneur which is carrying out any food-related business, etc. food manufacturing, processing, storage distribution, sale of food products it is compulsory for him towards getting an FSSAI Registration License. It is properly working of such business is supervised through FSSAI. Its registration means the food is safe for consumption. Verification is carried out by FSSAI officer during the registration. If you have obtained the license means that your registration is successful. So the Food license is a mandatory requirement for food operators as well as traders. This license meant the food is chemically verified. FSSAI Registration/License Types The food business operators shall be given a 14 digit number by FSSAI after successful completion of the registration procedure. The FSSAI Registration was divided into 3 categories relying on criteria of business turnover. There is an additional criterion for obtaining registration or license. This criterion is dependent upon the production capacity of the food business unit regardless of the turnover of the business. The Food Processing Units, Slaughtering Units, Meat processing Units are allotted their registration or license dependent on the latter criteria. Basic FSSAI Registration – Basic FSSAI Registration is mandatory for petty food business operators. It is also recognized as the Basic FSSAI License. The turnover of such business must not go beyond the limit of Rs. 12 lac per annum. A petty retailer shall include hawker, itinerant vendor or temporary stallholder. FSSAI State License – FSSAI State license is mandatory for business with turnover between Rs. 12 Lac to Rs. 20 Cr. annually or/additionally. The turnover limitation is the same for an FSSAI State trading license or an FSSAI State Manufacturing license. FSSAI Central License – FSSAI Central License is mandatory for business with a turnover above Rs. 20 Cr for Manufacturing or Trading or Storage beyond certain limited as stated by the law. Documents Required for the FSSAI Registration For getting an FSSAI Registration, the documents required are: Photo Identity of FBO. Pan card of FBO. Supporting Documents (if any):- NOC through Municipality/Panchayat, Health NOC. Declaration relating to the Business details in Form A. Proof of possession of business premises. Incorporation Certificate / Deed of Partnership / Articles of Association etc. For getting an FSSAI State and Central License, the documents required are: Form-B Duly completed as well assigned. Blueprint or layout plan of the processing unit (Manufacturing and processing unit only). List of Directors / Partners / Proprietor / Executive Members with contact details as well as photo ID (Corporations only). Details of the machinery to be used for operations (Manufacturing and processing unit only). List of Food categories towards being manufactured (Manufacturing unit only). Authority letter from the manufacturer for the nominated individual with authority. Analysis report of water to be used in the manufacturing of food products (For Manufacturing and processing units). Proof of possession of buildings. Partnership Deed/Affidavit of Proprietorship/MOA /Incorporation. Copy of certificate acquired under the Coop Act (Co-operatives only). NOC and Copy of License from the manufacturer (For labelers and repackers only). Food Safety Management System plan as well as Recall Plan (If applicable). Source of milk and meat (If applicable). NOCs from Municipality or local body. Certificate provided through the Ministry of Tourism (HRACC). (Mandatory for Hotel Only). Form IX. Additional Document for Central FSSAI License Declaration Form. Ministry of Commerce Certificate for 100% EOU. Supporting documentary evidence for Turnover. NOC/PA document issued through FSSAI. IE CODE document issued through DGFT (For exporters and importers). Procedure for FSSAI Registration For Basic FSSAI Registration This registration could be obtained by making an application to the food and Safety Department. The application is required to be submitted in Form A. In case the application is accepted or rejected it would be intimated by the Department within seven days from the date of submission of the application and must be intimated in writing. The registration certificate granted through the Department after accepting the application would contain the registration number and the photograph of the applicant. While carrying on the food business, the Food Business Operator must prominently display the certificate of registration at the place of business. For an FSSAI License To get an FSSAI License, the Food Business Operator is required to apply to the Licensing Authority through the FSSAI online registration procedure. This application shall be made in the food license application Form B. The application must be annexed with self-declaration, affidavit, as well as Annexure as applicable. This license is given for a period of 1 to 5 years as the time limit requested through the food business operator. Higher the period for
Check your Company or LLP Name Availability
Home / Services We help you in creating a strong foundation of your business View More Check your Company or LLP Name Availability For Company Registration in India Check Your Company Name First Choosing a memorable and unique name is one of the first steps. Check Your Company name Factors to be considered during the name selection of Private Limited Company: Must be simple and concise. Check Your Company Name Must be meaningful i.e. connected to the company’s business. Must be unique and not similar to an already existing name or trademark. Must end with the suffix of “Private Limited”. Should not be illegal, offensive or against religious beliefs. Check Your Company Name
Startup India Registration
Home / Services We help you in creating a strong foundation of your business View More Startup India Registration According to the revised announcement that was published on 23rd May 2017, an organization will be considered a Startup: if it is incorporated in India as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership corporation (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008); and for ten years from the date of its incorporation/ registration; in any case, on account of Startups in the biotechnology division, the period will be as long as 10 years from the date of its incorporation/ registration; and if its annual turnover for any of the financial years since incorporation/ registration has not surpassed Rs. 100 crores; and if that it is working in the direction of innovation, development or improvement of items or procedures or services, or if that it is a scalable business model with a high capability of employment generation or wealth creation. An organization created by splitting up or reconstruction of existing commerce will not be considered a ‘Startup‘. Also, a Startup should not more than 10 years old for startup recognition or not be incorporated before April 2016 to claim a Tax Exemption certificate. Benefits of the Startup India Scheme Startup India Scheme – Startup India Scheme is an initiative of the Government of India, and the benefit of the Startup India Scheme is the promotion of startups, generation of employment, and wealth creation. It was established on the 16th of January, 2016 by Prime Minister Narendra Modi. Also under the Startup India Scheme, one more benefit of the startup India scheme is that eligible organizations could get recognized as Startups by DPIIT, so as to access a host of tax benefits, easier compliance, IPR fast-tracking, and many more. Benefits of Startup Business The Modi government highlights the accomplishment of monetary goals as one of the centers focuses on the administration. The governance for the betterment intends towards promoting employment creation, foreign investment, development of skills, and entrepreneurship. So as to culminate every one of these benefits, the Startup India Action Plan was launched. Startups are entitled to a number of benefits, where a portion of these benefits are administrative and tax benefits, capital gains exception, as well as government help for startup funding. Also along with tax benefits, startups would likewise also enjoy the help of a self-certification compliance framework with regard to labor and environmental laws. This implies the startup’s businesses would be excluded from any inspections of the place of business for up to 3-5 years. Some other major benefits that the startup’s businesses in India shall be qualified for incorporate an 80% reduction in patent registration fees and a 50% reduction in trademark filing. Startups businesses would likewise be benefited from free-of-cost legal help in conjunction with simplified entry and exit norms and protection of Intellectual Property Rights (IPR). Advantages of Startup India Registration The advantages of Startup India are: • Startups shall be allowed to self-certify compliance with 6 Labour Laws and 3 Environmental Laws through a simple online process. • For labor laws, no inspections shall be carried out for a period of 5 years. Startups might be inspected only upon receiving of reliable and confirmable grievance of infringement that is filed in writing as well as accepted through at least one level senior towards the inspecting officer. • For environment laws, the startups that come under the white category would be able to self-certify compliance, as well as only random checks, would be carried out in such matters. Benefits of being a startup Prime Minister Narendra Modi has started and promoted Startup India. The startup businesses are liable for many benefits for establishing start-ups, they are: • The Indian Government has launched a mobile application as well as a website for easy registration for startups. For incorporating a startup, an individual is required to fill up a simple form online on the website and upload certain documents. • Government of India also offers lists of facilitators for filing patents as well as trademarks at lower fees. • An Rs. 10,000 crore fund has been set up by the government to give finances to the startups as venture capital. The government is in addition providing guarantees to the lenders to persuade banks and other financial institutions for giving venture capital. • Also, Startups are exempted from income tax for 3 years provided they obtain a certification from the Inter-Ministerial Board (IMB). • Startups could apply for government tenders and are exempted from the “prior experience/turnover” criterion applicable for regular firms answering to government tenders. • Seven new Research Parks shall be set up to give facilities to startups in the R&D sector. • Many of the compliances were simplified for startups to save time and money. • Individuals investing their capital gains in the venture funds set up by the government would be an exemption from capital gains. This is going to help startups to attract more investors. • The startups have the option to choose between the VCs, and they have the liberty to choose their investors. • A startup could close its business within 90 days from the date of application of winding up. • The government would be holding 2 startup fests annually both nationally and internationally for allowing various stakeholders of a startup to meet. Benefits of the Startup India scheme The benefits of the Startup India Scheme are Finance support, Government tenders, networking opportunities, etc. Startup India has been launched by Prime Minister Shri. Narendra Modi on 16th January 2016 The benefits of the startup India scheme are: • Financial Benefits. • Income Tax Benefits. • Registration Benefits. • Government Tenders. • Huge Networking Opportunities. 1. Financial Benefits The majority of the startups are patent-based. It implies they produce or give exceptional products or services. So as to register their patents, they need to acquire a heavy cost which is recognized as the Patent Cost. Under this scheme, the government gives an 80% reduction in patent costs. In addition, the procedure of patent registration and related is quicker for them. Likewise, the government pays the fees of the facilitator towards obtaining the patent. 2. Income Tax Benefits The startup has a good
Limited Liability Partnership
Home / Services We help you in creating a strong foundation of your business View More Limited Liability Partnership Limited Liability Partnership Registration is ideal for small and medium-sized businesses with LLP, it is a hybrid of a Private Limited Company and a traditional Partnership Firm. A Limited Liability Partnership is a business entity incorporated under the LLP Act, 2008. The key advantage of an LLP over a partnership firm is that partners are not liable for the misconduct of other partners. LLP also offers its partners the safety net of limited liability. Unlike the shareholder of a Private Limited Company, partners of an LLP can directly manage the business, which makes LLPs an attractive proposition for business incorporation. Businesses that have no requirement for equity funding in their lifecycle should opt for a Limited Liability Partnership as equity shares cannot be issued by LLPs. However, where there is a need for businesses to attract equity funding then Private Limited Companies are a better option as compared to LLPs. Examples of such businesses are closely held firms offering professional services such as architects and other professional services. eStartIndia is the best business and legal services platform for services relating to Limited Liability Partnership Registration in India, offering a variety of company registration services like Private Limited Company Registration, One Person Company (OPC) registration, Partnership registration, Public Limited Company registration, Nidhi Company Registration, Section 8 Company Registration, Producer Company registration, Indian Subsidiary registration, and FSSAI registration. eStartIndia will help you with Limited Liability Partnership Registration from the comfort of your home, offering you services that are very technical and as per individual needs. Get a free consultation for Limited Liability Partnership Registration with Our Top Rated Experts with simple Registration. Advantages of Limited Liability Partnership Registration Separate Legal Entity — A LLP is a distinct entity from its partners which essentially implies that it is competent to contract, can sue, and be sued. A key point to note is that a partner of an LLP is not liable for the misconduct of another partner. Limited Liability of Partners — A LLP offers safety to the personal assets of the partners in the form of limited liability in the event of a liquidation. In the scenario where an LLP is unable to repay its debts, the personal assets of the partners are safe and the partners are only liable for the initial amount invested in the business. However, this does not hold true if fraud has been discovered on behalf of a partner. Perpetual Existence — A LLP continues to exist until it is legally dissolved by its partners. Death or departure of any partner for any reason has no effect on the LLP’s existence and the LLP continues to exist even when there is a change in ownership. No Ownership Distinction – The business of the LLP is managed by the partners who are also the owners of the business. Here there is a clear difference from a Private Limited Company, wherein the shareholders of the company can differ from the company directors. This is one of the reasons that Venture Capitalists prefer not to invest in an LLP as there is a lack of clear distinction in ownership. No Audit requirement –In case the capital contribution of an LLP is lesser than 25 Lac rupees and turnover is less than 40 Lac rupees, there is no requirement for an audit. This particular feature makes LLPs a preferred choice for small businesses as well as startups. Flexibility in Agreement – Since an LLP is owned by its partners, they have complete freedom with regard to agreement drafting in the matter of their rights and duties. Property Ownership — Since an LLP is an artificial juristic person; it can own and sell the property under its name. As long as the LLP is a running concern, the property owned under the LLP name cannot be claimed by any partner. Lesser Compliance Required — It is much easier and cheaper to run an LLP as there is just three compliance every year. Easy to Wind Up — It is easy to start an LLP and also It’s easier to wind up an LLP, as compared to a private limited company. Minimum Requirement For Limited Liability Partnership A minimum of 2 partners. A minimum of 1 designated partner to be an Indian Resident. LLP office address proof. DPIN (Designated Partner Identification Number) for ALL company partners. DSC (Digital Signature Certificate) for ALL company-designated partners. A natural person must be nominated in case a corporate is an LLP partner. No minimum requirement of capital but every partner must mandatorily contribute towards LLP capital. Documents Required For Limited Liability Partnership Registration For Partner /Nominee: Self-attested copy of PAN card. Identity Proof. Passport. Aadhar card. Voter ID. Driving license. Passport-size photographs. Address Proof: Self-attested copy of Telephone/Mobile or Electricity bill( Current Month). Bank Account Statement (Less than 2 months old). Others: Signed LLP Agreement. For Registered Office; Company Address Proof: Telephone/Mobile/Electricity/Gas bill (Less than 2 months old). In the case of rented premises a notarized copy of the Rent Agreement with a No-Objection Certificate (NOC) for conducting business. In the case of self-owned premises registered title document. Registration Process Limited Liability Partnership Registration Process eStartIndia will help you with Limited Liability Partnership Registration from the comfort of your home, offering you services that are very technical and as per individual needs. Get a free consultation for Limited Liability Partnership Registration with Our Top Rated Experts with simple Registration. Step 1 Obtain DSC & DIN — eStartIndia will apply for Digital Signature (DSC) and Director Identification Number (DIN) (about 1 – 2 working days) Step 2 Name Approval — eStartIndia will apply for company name approval (about 2 – 3 days) Step 3 MoA and AoASubmission — eStartIndia will prepare MoA and AoA(about 5 – 7 days) Step 4 Certificate of Incorporation, PAN, TAN, Bank Account — eStartIndia will file SPICeform for obtaining Certificate of Incorporation (CoI), PAN, TAN & Bank Account (about 10 – 12 days) Step 5 Congratulations! Your work is done. You can download your Incorporation certificate and Incorporation kit from your dashboard after company incorporation. We also send
Partnership Firm
Home / Services We help you in creating a strong foundation of your business View More Partnership Firm Registration The law regarding a partnership firm in India is stated in the Indian Partnership Act of 1932. In a partnership there is more than one individual is involved in a partnership. There is a legal partnership agreement where the roles, duties, and shares of each partner are explicitly defined. Thus, profit earned by the company is shared among partners according to the legal partnership agreement, and if there are losses, every partner is personally responsible. Documents required for the partnership firm registration The documents which are required for the partnership firm registration are: Statement in Form 1 with the stated fees Notarized True Copy of the Partnership Deed declaring the following: Name of the firm The nature of the business of the corporation The place or principal place of business of the corporation The names of any other places where the corporation carries on business The date when each partner joined the corporation The names in full and permanent addresses of the partners The duration of the corporation The ownership Proof or rent or lease proof of the location of the business Copy of PAN Card of partners Copy of Aadhaar Card/ Voter identity card The Statement should be signed by all the partners of the corporation and need to be verified by affidavit in a specified manner. Detailed Documents of the Partnership Firm registration Partnership Deed For a partnership firm registration, a partnership deed could be made orally, but a partnership deed made in writing is recommended in order to avoid any future conflict in a partnership. The Partnership deed is made on a judicial stamp paper and is required to be signed by each and every partner. It covers the rights as well as duties of the firm and its partners. Documents of Partners for the Partnership Deed PAN Card of partners – Each partner must submit their PAN number as identity proof. Address Proof of partners – Partners can submit Aadhar Card, Driving Licenses, passports,s or Voter ID cards as address proof. The name and other details on the address proof must match the details of the PAN card. PAN Card of the firm – Partners must apply for the PAN of the firm. Form 49A is required to be filed to apply for a PAN. It could also be filed online if the authorized partner signs the application by utilizing a digital signature certificate. Else, the application and necessary documents must be sent to the PAN processing center, in Pune. Address Proof of the firm – In case the registered place of work is rented, the rent agreement, as well as one utility bill (electricity bill, water bill, property tax bill, gas receipt, etc.), must be submitted. Also, NOC from the landlord is also required to be submitted. In case the registered office place is owned, a utility bill is required to be submitted stating the name of the proprietor. Moreover, a NOC from the proprietor (owner as stated in the utility bill) needs to be submitted. Additional Documents required for the Partnership firm registration If the partners want to register the partnership firm, they must submit a partnership deed, ID as well as address proofs of the firm along with the partners to the Registrar of Partnerships. Also, an affidavit is required to be submitted confirming that all the details stated indeed and documents are truthful. GST Registration In order to get a GST registration, a firm must submit a PAN number, address proof, and identity and address proofs of the partner. An authorized signatory would sign the application either by means of a digital signature certificate or E-Aadhar verification. Current Bank Account In order to open a current bank account, a firm must submit the following documents: Partnership deed PAN card of the Partnership firm Address Proof of the partnership firm Identity proofs of each and every one of the partners Partnership registration certificate (if a partnership was registered) Any registration document issued through central or state government (usually GST certificate is submitted) Electricity bill copy or telephone bill copy or water bill copy (not beyond 3 months old) Authorization letter on the letterhead of the firm authorizing a partner as authorized signatory for the bank account. Partnership Firm Registration Online The Partnership firm registration procedure online involves the following steps; As per the India Partnership Act 1932, there is no time restriction as such for the registration of a firm. The firm could be registered in India on the date when it is incorporated or any such date after so. The mandatory fees and fines need to be paid. The process for such a Partnership Firm Registration Online includes: 1. The applicant must select an appropriate name for the partnership firm which shall not be similar to any other name which is already registered or shall not use words that are violating any law. One must check the name availability through MCA for the name as desired by the applicant that is not already registered. One could also get the Partnership firm name and logo registered as a trademark to secure it lawfully 2. Partnership Deed includes all the details of the rights and obligations of partners along with minute particulars relating to the firm. The few common points forming the part of the partnership deed are: Name and address of the Partnership firm Complete information relating to the partners for example name, address, contact details, etc Nature and activities relating to the business Duration ( if applicable) Contribution of all the partners The ratio in which the profit shall be shared between the partners The correctly signed copy of the Partnership Deed (which comprises all the terms and conditions) should be filled with the registrar. 3. When the drafting of the deed is completed it shall be executed by printing it on stamp paper with the appropriate notary and by affixing the signature of every partner. However, the stamp duty payable in one state could be different in
Proprietorship Firm
Home / Services We help you in creating a strong foundation of your business View More Proprietorship firm The definition of ‘Company’ signifies any enterprise which is formed under the Companies Act, 2013. The procedure of registration of a company in India relies upon the type of the company. When a business or firm is held and governed by one individual it is referred to as a sole proprietorship firm or company. In this Proprietorship firm form of business a single individual takes care of and controls the total operation and functioning of the business. The proprietor of the business is the only individual to enjoy the profit of the business and he has to bear the losses. There is no specific law that directs the sole proprietorship firm. Proprietors of such corporations have unlimited business liability. This comprises that the proprietor’s personal assets shall be attached in order to fulfill business liability claims. It is not possible in order to transfer the ownership of a Proprietorship firm from one individual to another. Proprietorship Firm Registration For a proprietorship firm or business, Proprietorship Firm Registration is not essential as they are recognized by alternate registrations such as GST registrations. Though its liability is unlimited and it also does not have a continuous presence. A proprietorship registration is needed for the individual-owned business for doing business, hence it is recommended to get the given registrations in order to run the business function smoothly and legally. An individual could select any form of registration from the below: • Shop and Establishment Registration under the laws of the individual states • Registering as SME • GST Registration The documents required for a Proprietorship Firm registration are; • Aadhar Card • Registered office proof (for Rented Property: Rent agreement and NOC from a landlord/ For a Self-owned Property: Electricity bill or any other address proof.) • PAN Card of the proprietor • Bank Account Proprietorship Firm Registration in Delhi The steps to be followed for Proprietorship Firm Registration in Delhi include; 1. Applying for PAN. If an individual already has one this step is not needed. 2. The next step is naming the business which is required before registration of the Proprietorship Firm in Delhi. 3. There is no formal registration needed, but the next step is to open a bank account in the name of commerce for Proprietorship Firm Registration in Delhi. 4. An individual may also register as a Small and Medium Enterprise (SME) as per the MSME Act, but it is not compulsory, however, it is beneficial towards being registered under the same. 5. An individual could also register for GST if the turnover goes beyond Rs 20 lakh. For registering under GST, an individual has required the following documents which include PAN card, Photo, and Aadhar Card of the proprietor; Proof of business place (Electricity bill/ rent agreement) and a Bank statement copy (first page for confirming bank account number, address and IFSC code). 6. An individual could also get a Shop and Establishment registration done. Registration Process Step 1 Obtain DSC & DIN — eStartIndia will apply for Digital Signature (DSC) and Director Identification Number (DIN) (about 1 – 2 working days) Step 2 Name Approval — eStartIndia will apply for company name approval (about 2 – 3 days) Step 3 MoA and AoASubmission — eStartIndia will prepare MoA and AoA(about 5 – 7 days) Step 4 Certificate of Incorporation, PAN, TAN, Bank Account — eStartIndia will file SPICeform for obtaining Certificate of Incorporation (CoI), PAN, TAN & Bank Account (about 10 – 12 days) Step 5 Congratulations! Your work is done. You can download your Incorporation certificate and Incorporation kit from your dashboard after company incorporation. We also send your Incorporation kit & certificate on your registered email. FAQs Who can form a sole proprietorship Firm? An Indian National with a current bank account on a business name is eligible for forming a sole proprietorship Firm. Generally, banks ask a customer for a Shops and Establishments license prior to opening a current bank account. What kind of liabilities does a sole proprietor have? A sole proprietor has unlimited liability towards the business as a sole proprietorship is not a separate legal entity. What type of business is sole proprietorship Firm most suited for? A sole proprietorship Firm is most suited for unorganized sectors with preference given by small and micro businesses such as grocery vendors, fast food vendors, etc. What are the key advantages of a sole proprietorship Firm? The key advantages of a sole proprietorship firm are less compliance, Ease of start, Less Tax and less costing. Does a sole proprietorship firm have any mandatory registration requirements? No. A sole proprietorship firm does not have any government-mandated registration requirements. The registration of this type of business entity is usually obtained by the acquisition of registration related to tax under the business name. What is the qualification for an individual to be a director of a Public LTD Co? There is no mandatory qualification for an individual to be a director of a Public LTD. Co. and any natural person above the age of 18 can become a director. Is it possible to convert a sole proprietorship firm to any other business form? Yes. A sole proprietorship firm can be converted to a Partnership or Limited Liability Partnership as per due procedure at a later stage. What is the treatment of a sole proprietorship firm under tax law? As per tax laws, the income from a sole proprietorship firm is treated as the personal income of the sole proprietor as a sole proprietorship is not a separate legal entity. How many are people are required to start a Proprietorship firm? For starting a proprietorship firm, you need only one person is required and it has only one promoter. Is Audit required for a Proprietorship Firm? It is not necessary to prepare audited financial statements each year. However, a tax audit may be required based on turnover and other criteria. Can I
Public Limited Company
Home / Services We help you in creating a strong foundation of your business View More Public Limited Company Public Limited Company is preferred for medium and large-sized businesses in India if they are planning to raise funds from the general public. The primary advantage of a Public Limited Company is that it can raise capital from the public by issuing shares to investors in the form of IPO (Initial Public Offering). Thus, it is considered to be more transparent in its business model as compared to other types of business entities. In comparison to a Private Limited Company setting up a Public, LTD. Co. has stringent requirements. A Public LTD. Co. has a minimum of 7 members and there is no capping on the upper limit of the members of the company. A Public LTD. Co. keeps its operations distinct from its ownership to quite an extent. It is only a Public LTD. Co. that can have its shares listed on Indian stock exchanges such as NSE (National Stock Exchange) and BSE (Bombay Stock Exchange). eStartIndia is the best online platform for services relating to Public LTD. Co. registration in India, offering a variety of company registration services like Private Limited Company Registration, One Person Company (OPC) registration, LLP registration, Nidhi Company Registration, Section 8 Company registration, Producer Company registration, Indian Subsidiary registration, and FSSAI registration. eStartIndia will help you to register a Public LTD. Co. from the comfort of your home, offering you services that are very specialized and tailored for each individual. Get a free consultation for Public Limited Company registration with Our Top Rated Experts with simple Registration. Advantages of Public Limited Company Separate Legal Entity — A Public LTD. Co. is an entity with a distinct identity from its shareholders and a separate juristic person as per the Companies Act 2013. This provides the company with many rights such as opening a bank account under its name, obtain licenses, hire employees, and enter into contracts and has more legal capacity. Perpetual Existence — A Public LTD. Co. continues to exist until it is legally dissolved by its directors. Death or departure of its directors for any reason has no effect on the company’s existence and the company continues to exist even when there is a change in ownership. Easy share allocation and redirection – The ownership of a Public LTD. Co. can be easily transferred by the method of transferring shares. The process is as simple as signing and filing a share transfer form along with individual share certificates subject to the approval of other shareholders. Property Ownership — Since a Public LTD. Co. is a juristic person; it can own and sell the property under its name. As long as the company is a running concern, the property owned under the company name cannot be claimed by any of the directors. Capacity to Borrow – Financial institutions such as banks prefer to give loans to a Company in comparison to LLPs or other proprietary concerns. There are many options available with a Public LTD. Co. to raise funds. A company can accept public deposits, raise debentures both secured and unsecured, and can also issue equity shares • Shares shall not be permitted to be transferred to anyone else. • One Person Company is forbidden from giving any invitations to the public to subscribe to the corporation’s securities. • No One Person Company could voluntarily convert into any other type of corporation within 2 years from the date of incorporation of One Person Company, bar when the threshold limit of paid-up share capital, is Rs 50 lakh, is crossed or its average annual turnover during the applicable period exceeds Rs 2 two crores. • One Person Company shall not convert into a corporation registered under Section 8. • One Person Company is requisite to give a lawful identity by stipulating a particular name under which the activities of the corporation could be carried on. The words ‘One Person Company’ should be cited below the name of the firm, wherever the name is affixed, utilized, or engraved. Minimum Requirement Every corporation name should be in three parts. The first name is the name of the company. The second name is the object part, and the last one displays what is the type of corporation. For instance, for Mayur clothing limited, one could see that Mayur is the name of the company, clothing shows the object of the corporation, and limited shows the type of company. The name of the One Person Company in India is required to be valid when it is registered under the Companies Act, 2013. Minimum Requirement A minimum of 3 directors A minimum of 7 shareholders A minimum of 1 director to be Indian Resident Shareholder and director can be the same person DSC (Digital Signature Certificate) for 2 directors DIN (Director Identification Number) for ALL company directors Documents required for registration Mandatory: Copy of PAN card for Indian Nationals; Notarized and/or apostilled passport copy for Foreign Nationals Identity Proof: Passport; or Aadhar card; or Voter ID; or Driving license Passport size photographs Address Proof: Copy of Telephone/Mobile or Electricity bill; or Bank Account Statement (Less than 2 months old) Company Address Proof: Telephone/Mobile/Electricity/Gas bill (Less than 2 months old); AND In case of rented premises a notarized copy of Rent Agreement with a No-Objection Certificate (NOC) for conducting business; In the case of self-owned premises registered title document Others: Declaration of interest by Directors A resolution passed by Promoter company if any MOA and AOA of the Company Registration Process eStartIndia will help you to register a Public Limited Company from the comfort of your home, offering you services that are very specialized and tailored for each individual. Get a free consultation for Public Limited Company registration with Our Top Rated Experts with simple Registration. Step 1 Obtain DSC & DIN — eStartIndia will apply for Digital Signature (DSC) and Director Identification Number (DIN) (about 1 – 2 working days) Step 2 Name Approval — eStartIndia will apply for company name approval (about 2 – 3 days) Step 3 MoA and AoASubmission — eStartIndia will prepare MoA and AoA(about
One Person Company
Home / Services We help you in creating a strong foundation of your business View More One Person Company One-person company has been introduced in the Companies Act, of 2013. The major intent was to support businesspersons capable of starting a venture, by them. This is also done by means of allowing them to create a single-person economic entity. One of the major advantages of a One Person Company (OPC) is that there only one member is allowed in OPC. On the other hand, a minimum of two members is needed for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership. Requirements of One Person Company • Shares shall not be permitted to be transferred to anyone else. • One Person Company is forbidden from giving any invitations to the public to subscribe to the corporation’s securities. • No One Person Company could voluntarily convert into any other type of corporation within 2 years from the date of incorporation of One Person Company, bar when the threshold limit of paid-up share capital, is Rs 50 lakh, is crossed or its average annual turnover during the applicable period exceeds Rs 2 two crores. • One Person Company shall not convert into a corporation registered under Section 8. • One Person Company is requisite to give a lawful identity by stipulating a particular name under which the activities of the corporation could be carried on. The words ‘One Person Company’ should be cited below the name of the firm, wherever the name is affixed, utilized, or engraved. One Person Company in India example Every corporation name should be in three parts. The first name is the name of the company. The second name is the object part, and the last one displays what is the type of corporation. For instance, for Mayur clothing limited, one could see that Mayur is the name of the company, clothing shows the object of the corporation, and limited shows the type of company. The name of the One Person Company in India is required to be valid when it is registered under the Companies Act, 2013. One-Person Company Registration The process required for a One Person Company registration includes; Application for Reservation of Name An individual could make an application for the reservation of a name for the One Person Company in India through online mode. An individual is required to visit the official website of MCA where the applicant could file the application. An individual is required to fill out the form INC-1. There is Reserve unique name (RUN) web service available on the MCA portal where an individual could Reserve a name for the One Person Company in India. An approved name is valid for 20 days starting from the date of approval (if the name is being reserved for a new corporation) The documents needed to be submitted by the company partners for One Person Company registration are; • Scanned copy of PAN Card or passport (Foreign Nationals and NRIs) • Scanned copy of Aadhar Card/ Voter’s ID/Passport/Driver’s License • Scanned copy of current Bank Statement or Telephone or Mobile Bill or Electricity or Gas Bill • Scanned passport-sized photo • Specimen autograph or impression The documents needed to be submitted FOR THE REGISTERED OFFICE for One Person Company registration are • Scanned copy of current bank statement or phone or mobile bill or electricity or gas Bill • Scanned copy of Notarized Rental Agreement in English • Scanned copy of NOC from the property owner • Scanned copy of Sale Deed/Property Deed in English (for owned property) One-person company registration The process of One person company registration includes the; 1. Apply for DSC: The primary step is to obtain the Digital Signature Certificate (DSC) of the proposed Director which needed the following documents: • Address Proof • Aadhaar card • PAN card • Photo • Email Id • Phone Number 2. Apply for DIN: When the Digital Signature Certificate (DSC) is made; the following step is to apply for the Director Identification Number (DIN) of the proposed Director in SPICe Form with the name and the address proof of the director. 3. Name Approval Application: While incorporating a One person company in India, it is to decide on the name of the Company. The name would be approved by the MCA. 4. Documents Required: One must prepare the following documents which are needed to be submitted to the ROC: o The Memorandum of Association (MoA) o The Articles of the Association (AoA) o As there is only 1 Director and a member, a nominee for such an individual has to be appointed because in case he becomes incapacitated or expires and cannot implement his responsibilities the nominee would perform for the director and take his place. His consent in Form INC – 3 shall be taken along with his PAN card and Aadhar Card. o Proof of the registered office of the proposed Corporation along with the proof of ownership as well as a NOC from the owner. o Affidavit and Consent of the proposed Director of Form INC -9 and DIR – 2. o A declaration through the professional certifying that every compliance has been made. 5. Filing of forms with MCA: All these documents shall be attached to the SPICe Form, SPICe-MOA, and SPICe-AOA with the DSC of the Director and the professional, and shall be uploaded to the MCA site for approval. After uploading, Form 49A and 49B would be generated for the PAN and TAN generation of the Corporation which have to be uploaded to MCA after affixing the DSC of the proposed Director. 6. Issuing of the certificate of Incorporation: On verification, the Registrar of Companies would issue a Certificate of Incorporation and the individual could commence the business. eStartIndia is a professional tech-based online legal service that helps clients to simplify the procedures of all kinds of registration, implementation, tax concerns, and any additional legal compliances and services related to business in India. Registration Process Step 1 Obtain DSC & DIN — eStartIndia will apply for Digital Signature (DSC) and Director Identification Number (DIN) (about 1 – 2
Private Limited Company
Home / Services We help you in creating a strong foundation of your business View More Private Limited Copany A private limited company is a corporation that is privately held for small businesses. The legal obligation of the members of a Private Limited Company in India is limited to the number of shares respectively which are held by each of the partners. The shares of Private Limited Company shall not be publically traded. Private Limited companies in India can be of three categories: Company limited by shares; Company limited by guarantee and Unlimited Company. A Private Limited Company needs a few more ROC compliance translating into an additional cost of 5000 to 10000 per annum. The minimum capital required is Rs.100, 000 and a private limited company could have a maximum of 200 members. Documents Required For Private Limited Company Registration Copy of PAN Card of directors Electricity/ Water bill (Business Place) Passport-size photo of directors Copy of Aadhaar Card/ Voter Id card of directors Copy of Rent agreement (for the rented property) Copy of Property papers (for the owned property) Landlord NOC Steps for Private Limited Company Registration 1. Application of DSC and DIN: Each and every one of the partners must apply for a Digital Signature and DIN. A digital signature is an online signature that is utilized for filing and DIN refers to the Directors PIN number issued through MCA for a Private Limited Company Registration 2. Name approval: The partners in a Private Limited Company are required to furnish 3 different options for the corporation name towards The Ministry of Corporate Affairs (MCA) of which one shall be selected. The names provided should also ideally be unique as well as suggestive of corporation business. 3. MOA and AOA submission: When the name of the Private Limited Company is approved, an applicant is required to draft a Memorandum of association and Articles of Associate which is necessary for the Private Limited Company Registration. 4. Get an incorporation certificate: It generally takes 15- 25 days to form a Private limited company in order to obtain the incorporation certificate. Incorporation certification is a confirmation that the corporation has been formed. It also comprises the CIN number. 5. Apply for PAN, TAN, and Bank account: An applicant is then required to apply for PAN and TAN. PAN and TAN are generally received in 7 working days. After this, the applicant could submit the Incorporation certificate, MOA, AOA as well as PAN to a bank in order to open the bank account. Private limited company registration in Delhi The Pre-requisites for Private Limited Company Registration in Delhi include; • 2 Directors • 2 Shareholder • Registered Office Address (Residential/ Non-Residential) Procedure for Private Limited Company Registration in Delhi • One must apply for Digital Signature Certificate (DSC) for the Private Limited Company Registration in Delhi. • One must apply for Director Identification Number (DIN) for the Private Limited Company Registration in Delhi. • One must apply for Name Approval with the Registrar of Companies (ROC), for the Private Limited Company Registration in Delhi. • One must apply for Registration with the new SPICe INC-32 forms for the Private Limited Company Registration in Delhi. • Then acquire the Registration Certificate. Documents for Private Limited Company Registration in Delhi include; • Memorandum of Association (MoA) • Articles of Association (AOA) • Declaration and Affidavit through directors and first subscribers • Office Address Proof • Utilities Bills’ Copy not beyond 2 months old (Electricity, Gas, Water Bills, etc.) • Copy of approval in case the proposed name is comprising words/expressions required for authorization by the Central government for the Private Limited Company Registration in Delhi • If the proposed name for the Private Limited Company India is based upon a registered trademark then it is compulsory to attach a trademark registration certificate or trademark application copy • NOC from sole proprietors partners or associates or existing corporations is required for Private Limited Company India • Proof of identity as well as the residential address of subscribers. • Identity Proof as well as the proof of the residential address of the concerned directors. Registration Process Step 1 Obtain DSC & DIN — eStartIndia will apply for Digital Signature (DSC) and Director Identification Number (DIN) (about 1 – 2 working days) Step 2 Name Approval — eStartIndia will apply for company name approval (about 2 – 3 days) Step 3 MoA and AoASubmission — eStartIndia will prepare MoA and AoA(about 5 – 7 days) Step 4 Certificate of Incorporation, PAN, TAN, Bank Account — eStartIndia will file SPICeform for obtaining Certificate of Incorporation (CoI), PAN, TAN & Bank Account (about 10 – 12 days) Step 5 Congratulations! Your work is done. You can download your Incorporation certificate and Incorporation kit from your dashboard after company incorporation. We also send your Incorporation kit & certificate on your registered email. FAQs Is it mandatory to deposit Share capital at the time of company Incorporation? No. Once the registration process is complete and the bank account is opened, share capital can be deposited anytime within two months. Does a PVT LTD Company require renewal every year? No. A PVT. LTD. Company continues existence until it is closed down officially by its owners. Is it possible to change the address of the company post Incorporation? Yes. The address of the company can be changed anytime post Incorporation. Is it possible for PVT LTD Companies to trade shares? No. A PVT. LTD. company by definition is a privately owned company and thus its shares are not open for trading in the public domain. What is the qualification for an individual to be a shareholder or director of a PVT LTD Company? There is no mandatory qualification for an individual to be a shareholder or director of a PVT. LTD. Company and any individual can become a shareholder or a director. What is a DIN? A DIN or the Director Identification Number is a unique number that identifies the director of a company. When any person is appointed as a company director, the DIN must be mentioned in the relevant documentation. What is DSC? A digital signature certificate or