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  Why Company Registration in India  The First Step In Starting And Running A Business As An Entrepreneur Is To Determine The Company’s Structure And Begin The Company Registration Process. The first step in launching a new business is to register a company. The procedure by which a company is written in the jurisdiction in which it operates is known as company registration. The nature of your firms, such as whether it will be owned by a single person or a group of individuals, will be the primary determinant. If you run a business that lacks an identity, there is a good chance that you, as the owner, will lose the unique name of your business to someone who has already registered their company. You will not be able to sue the person for this act legally. Company registration will help you avoid such situations and will also serve as proof of your company’s legitimacy. As a result, Company Registration is vital in the business world. Advantages of company registration COMPANY ...

Documents of Registered Office for Indian Company Registration  Registered office proof of the company stating if the property is rented/ leased,   Copy of the rental/lease agreement   Copy of electricity/water bill (business place)   In the case of your own property, a copy of the sale deed and electricity bill is sufficient   Copy of no objection certificate from the owner of the property

 Documents required for the Indian company registration process  PASSPORT and Voters ID (Similar to Resident Country) or Driving License (Apostiled and Notarized along with self-attestation)   Bank Statement/ Telephone bill/ Mobile Bill/ Electricity bill as an Address proof (Latest 0ne month bill) (Apostiled and Notarized along with self-attestation)   Passport size photograph of Foreign Director   During of stay at the present address of the Foreign Director and place of birth and his Occupation   Educational Qualification of Foreign Director

  Highlights of the Companies Act of 2013 The companies act has introduced a new concept called the class action suits for shareholders with the view of making the shareholders understand and provide them with enough knowledge on their rights.  The Act gives more powers to shareholders regarding the approval of certain transactions.   The Act stipulates the appointment of at least one woman director on the board.   The Act demands a certain class of companies to set aside a certain amount of money for activities that promote corporate social responsibility.   The companies act has proposed a simple procedure for mergers and amalgamations of a certain class of companies after getting approval from the government   The Act has increased the number of shareholders in a Private limited Company from 50 to 200.   The Act provides for the entrenchment of articles of association.  It is mandatory for every company to have at least one director who has sta...

 Why Company Registration is needed? The First Step In Starting And Running A Business As An Entrepreneur Is To Determine The Company’s Structure And Begin The Company Registration Process. The first step in launching a new business is to register a company. The procedure by which a company is registered in the jurisdiction in which it operates is known as company registration. The nature of your firm, such as whether it will be owned by a single person or a group of individuals, will be the primary determinant. If you run a business that lacks an identity, there is a good chance that you, as the owner, will lose the unique name of your business to someone who has already registered their company. You will not be able to sue the person for this act legally. Company registration will help you avoid such situations and will also serve as proof of your company’s legitimacy. As a result, Company Registration is extremely important in the business world. Advantages of company registrati...

 Switching a Partnership to a Private Limited Company Requirements A partnership firm must have at least 7 partners to convert to a private limited company. To convert to a private limited company it should have a minimum share capital of Rs. 1 lakh. The partnership deed has to be changed if it does not fulfill the above criteria. It must have at least 2 minimum Directors for converting to a private limited company. Partners can become the Directors as well as the shareholders. All the Directors must have the Director Identification Number. It is mandatory to have the Digital Signature Certificate of the two Directors.

 REQUIREMENTS FOR REGISTRATION OF A PRIVATE COMPANY A  private limited company  is held for small businesses and is widely prevalent among corporate legal entities. It is the most preferred type of business entity among the Angel Investors, Banks, Venture Capitalists, and other such budgetary organizations.  Below are a few mentioned documents that are required for the  Incorporation of a private company KYC requirements for directors (with self-attestation) Latest passport size photo. Copy of Pan card of Directors  Copy of Aadhaar Card Copy of Voter Identity card/ driving license/passport of the director In the case of NRI or foreign nationals, a passport copy has to be notarized at the Indian Embassy of the particular country.  Notarized utility bill of the particular country where the NRI or foreign national resides. Latest bank statement of not less than two months old. KYC requirements for the registered office Registered office proof of...

Annual Filing Requirements for LLPs A limited liability partnership (LLP) is a form of business entity in which all of the partners have limited liability. Each partner is solely responsible for himself and is not accountable for the fault of the other partners. Corporations choose a Limited Liability Partnership (LLP). An LLP must keep its active status by filing all obligatory compliances with the Ministry of Corporate Affairs on a regular basis. This is required of all LLPs, whether or not they are operating a company. LLP Form 11 All LLPs must file Form 11 within 60 days from the closure of the financial year. There is a prescribed fee that needs to be paid. This form has the following details mentioned Total number of partners Total number of contributions received from all partners Details of body corporate as partners Summary of partners LLP Form 8 It is mandatory to file Form 8 within 30 days from the end of six months of the financial year. This form needs to be signed by 2 de...

  HOW TO SAVE TAXES IN A PRIVATE LIMITED COMPANY A  private limited company  is best suited for small businesses. The liability of the members is limited to the number of shares that are held by them and these shares cannot be publicly traded.  HERE ARE A FEW POINTS THAT WILL HELP YOU SAVE TAXES IF YOU OWN A PRIVATE LIMITED COMPANY   One of the easiest ways to  save on tax  is by paying salaries to the  directors   Profits can be shared as salary instead of sharing as dividends   A sitting fee can be paid to the directors for attending board or committee meetings Assets can be categorized as capital assets on the balance sheet of the company when they are purchased.      Here’s how bookkeeping your company’s records will help you save taxes .  Bookkeeping refers to the organizing, storing, and accessing the financial information of a company.  Keeping a record of the company’s rent expenses and preliminary e...

 IN A PRIVATE LIMITED COMPANY, THE PROCESS FOR APPOINTING A DIRECTOR A director is primarily responsible for the running of a private limited company. The director is in charge of the business's upkeep and operation. Getting the prospective director's approval The Proposed Director's Digital Signature The director must have a Digital Signature from India's Certifying Authority. Getting a Director ID Getting ready to document Appointment of a new corporate director With a brief explanation, call a board meeting. The director's appointment will be decided by a resolution. To be granted an appointment letter These are the procedures that must be followed before a director of a private limited company in India can be appointed. #llpregistration #aavanacorp #companyregistrationservicesInIndia #privatelimitedcompanyregistration #India  

Is the LLP Registration Process the Best Option for Company Registration? When forming an LLP, there are a few requirements that must be met. Will you be able to lawfully form and manage an LLP if and only if you can meet the following requirements? A limited liability partnership (LLP) must be formed by at least two people. There is, however, no upper limit on the number of partners. In the case of an LLP, capital is decided by the business’s needs and the members’ contributions to the partnership. The Stamp Duty on the deed is determined by the amount of capital. To start a business as an LLP, there is no minimum capital need. A resident of India must be at least one of the LLP designated partners. When an LLP’s turnover is equal to or greater than 40 lakh and its total capital contribution is equal to or greater than 25 lakh, its accounts must be audited. Reason for LLP Registration   Use a company’s operational ease and flexibility to your advantage.   Reduce the amount of...

  What is a Nidhi Company? The Nidhi Company is a non-banking finance company that is governed by Section 406 of the Companies Act of 2013. A Nidhi company’s main business is lending money to the company’s members. Nidhi Companies include permanent funds, mutual benefit funds, a mutual benefit business, and benefit funds, to name a few. Characteristics of Nidhi Company A Nidhi company promotes small savings among the middle and lower middle class. Accepts term deposits based on timely returns The members of a Nidhi Company get easy access to loans against collaterals. Promotes effective means of savings and sanctions loans with minimum documentation. The membership structure is very rigid and therefore it follows a very secure means of investment. A Nidhi company mainly deal with and support small income groups. Depends on the honesty, integrity and loyalty of a member. Setting up a Nidhi Company does not require any RBI regulations There are lesser level of risks A Nidhi company f...

  Contribution  from Private Limited Companies   Although some large firms are private companies, most private limited companies (Ltd) are small to medium-sized organizations. A private limited company is one that is owned by shareholders who have been approved by the other owners; it is often a family business. A private limited company’s profits are occasionally distributed to its shareholders as dividends, but they are also sometimes reinvested back into the company. The primary goals of a private limited business are to increase revenue and profit so that shareholders can get a good return on their investment. Many private limited companies will seek to expand their business by opening new locations, producing a greater range of products, or hiring more people. When a company grows large enough, it may decide to “go public” and become a public limited company. Why are they referred to as limited liability companies? Limited firms get their name from the fact that thei...

  Simplified structure of Pvt Ltd Company Registration   Step 1: The first step is to apply for a digital signature certificate (DSC) –  According to the Ministry of Corporate Affairs, every director and shareholder of a private limited business must get a Digital Signature Certificate (DSC) (MCA). This DSC will be used on all papers for securely filing e-forms, as required by the Information Technology Act of 2000. To apply for DSC, each applicant must provide the following personal information: Photos the size of a passport PAN (Permanent Account Number) Aadhaar Card is a unique identification card issued by the government of India. Phone Number  Your email address  If one or more directors or shareholders are foreign nationals, their documents must be notarized and apostilled as well. Step 2: Submitting an application for a name reservation  You’ve probably already considered a few names for your organization. Fill out the form with the best two to reser...

Why is the LLP Registration Process the Best Option for You? When forming an LLP, there are a few requirements that must be met. Will you be able to lawfully form and manage an LLP if and only if you can meet the following requirements? A limited liability partnership (LLP) must be formed by at least two people. There is, however, no upper limit on the number of partners. In the case of an LLP, capital is decided by the business’s needs and the members’ contributions to the partnership. The Stamp Duty on the deed is determined by the amount of capital. To start a business as an LLP, there is no minimum capital need. A resident of India must be at least one of the LLP designated partners. When an LLP’s turnover is equal to or greater than 40 lakh and its total capital contribution is equal to or greater than 25 lakh, its accounts must be audited. Once you’ve determined that you meet the basic minimum requirements for forming an LLP, you may assess the viability of doing so by reading th...