companyformation

Who Are Eligible For GST Registration in India According to the new law, every taxable person who carries on business at any place in India or who intends to do so, is required to register for Goods and Services Tax. This includes individuals, HUF, firm, LLP, a company or a government company, an AOP/BOI, co-operative society, trust, local authority, and an artificial juridical person. It also includes a person who carries on any economic activity including trade and commerce, even if not in the course of business. All the businesses whose turnover is more than 20 lakh rupees in a financial year are required to get registered under Goods and Services Tax . This includes traders, manufacturers and service providers. Businesses who make taxable supplies should also obtain registration in the State or Union Territory (UT) from where they supply goods. The threshold limit for special category states, J&K and Himachal Pradesh is 10 lakh rupees in a financial year. ...

What Are the Compliance Required for OPC Private Limited Company One Person Company (OPC) is a type of private limited company with just one member, which can also be the sole director. OPC registration is a great option for entrepreneurs who wish to experience the several benefits offered by a Pvt Ltd Company like better financing opportunities, a tax efficient structure, and more, without compromising on their personal assets or losing control of the business. However, just like a regular Private Limited Company, OPCs must comply with certain compliance requirements on an annual basis to maintain their status and avoid penalties. In this article, we present all the mandatory compliances that an One Person Company must mandatorily comply with. Annual Return An OPC must file an annual return in MCA Form AOC-4 within 180 days from the end of its financial year. This return discloses important information and documents such as a compliance certificate, address o...

What are the Procedures for Formation of LLP in India The Ministry of Corporate Affairs (MCA) has made major amendments to the LLP incorporation procedure vide notification dated 18th September, 2018 by introducing a revamped LLP-RUN service (similar to RUN services for Company Incorporation) for Reservation of Name for proposed LLP. Apart from this, MCA has also introduced e-form FiLLiP for registration of LLP. All the Designated Partners are required to obtain Digital Signature Certificate (DSC) from government recognized certifying agencies and upload the same on MCA website along with scanned copies of Form 9 and passport size photographs. This requirement is because all documents filed online through e-forms in Limited Liability Partnership incorporation are digitally processed and hence, the same requires DSC of all DPs. It is important for a new LLP to have a legally permissible name. It must end with "Limited Liability Partnership" or LLP and...

Why is IT Filing Mandatory in India Income tax, also known as direct tax, is levied on any person/entity that earns more than the basic exemption limit set by the Indian Government. These taxes are collected by the Government to meet various expenses and investments in the country. In order to file income tax returns in India, it is compulsory for every individual whose income is above the basic exemption limit of Rs 3 lakhs to submit his/her return. The central government levies this tax to provide the much-needed funds for the development of the nation. Individuals can file their returns through a variety of ways, including online and offline. However, online filing is the most preferred method for most people as it is more convenient and secure. Moreover, this mode of filing also offers a number of benefits, such as instant processing and a faster refund. Before you can file your return, it is important to keep all your documents ready. This includes you...

How to Incorporate a New Limited Liability Partnership Registration India Setting up your own business is one of the most important decisions you will make in your life. Getting informed about all the options available to you will help you make the right decision for your needs. One of the most popular options is a limited liability partnership. In this article, we will discuss the process of forming a new Limited Liability Partnership Registration India. Limited Liability Partnership is a hybrid type of business entity that offers the benefits of a company and a partnership. The LLP allows its owners to share profits and losses with partners without being taxed separately. Additionally, the LLP limits the personal liability of its partners for the actions of the business. When it comes to registering an LLP, the process is relatively simple. You can do so online on the MCA portal . The first step is reserving a name for your LLP. You can do this by quoting the...

What Are the Documents Required for Company Registration in India The process of registering a business has completely shifted online. This has made the process more user-friendly and flawless. However, the list of documents is extensive. It mainly includes the PAN Card of Directors and shareholders along with a self-attested address proof of each individual, such as mobile bill, electricity bill or last page of the bank passbook. These address proofs should match with the PAN Cards for a hassle-free process. If the office of the company is in a rented space, then the rent agreement and No Objection Certificate (NOC) from the landlord need to be submitted. Another important document that is required for a company to get registered is the DIN (Director Identification Number). It is a unique 10-Digit Alphanumeric identification number issued by the Ministry of Corporate Affairs, Government of India. DIN is mandatory for all the directors who are Indian residents to h...

How to Register a Private Limited Company Online in India Are you planning to launch your business as a private limited company? This structure is very popular among entrepreneurs, owing to several benefits like tax advantages and protection of personal assets. However, before you proceed with your company registration process, it is important to know the different aspects involved in this procedure. Here, in this article, we discuss the steps to register a Private Limited Company online. 1. Obtain DIN (Director Identification Number) To register a Private Limited Company , you must first get a Director Identification Number (DIN). This can be done by filing the DIN e-form on the official website of the Ministry of Corporate Affairs. Once your DIN is allotted, you can then complete the other e-forms required for Private Limited company registration. 2. Choose a unique name It is very important to select a unique name for your company. This can be done by us...

How to Register Annual Filing in India Every Company incorporated under the Indian Company Act is required to e-file certain documents with the Registrar of Companies (ROC) at regular intervals as per the applicable statutes. This is a mandatory requirement to maintain compliance for the business and prevent legal complications in case of any issues or violations. Annual ROC filing includes the compilation of financial and non-financial information for a particular fiscal year. It helps the Government to keep a record of all the activities and operations of a Company. Regular ROC filing also helps the companies to easily analyse their financial position. It also helps them to determine whether they are making profit or loss and saves their time and effort in preparing the audited financial statements for each of their financial years. All the Companies, including Section 8 Companies, are required to file a complete annual return. This is done in order to comply wi...