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  Limited Liability Partnership in India Law Limited Liability Partnership is prevailed by ‘The  Limited Liability Partnership Act, 2008’  and various Rules made thereunder  Registered under the LLP Act, 2008. The registration is done under the Ministry of Corporate Affairs. Liability The liability of partners is limited in an  LLP  mainly because it’s a separate legal entity. The liability of the partners is limited to the amount invested by them in the company. Number of partners A minimum of two partners is required. However, a minor cannot be a partner in an LLP DPIN Each partner is required to obtain a DPIN (Designated Partner Identification Number) before being assigned as a designated partner in an LLP Transferability Shares can be easily transferred to another person after obtaining the consent of all the partners. However, a transferee cannot become a member automatically. Conversion An LLP can be converted to a  Private Limited Company . But,...

  Cyber Threats basics and their Importance. Nowadays, frequently we keep on hearing about various cyber-security breaches and questioning whether people’s protection against those threats will fit or not. What is a Cyber Threat? A cyber threat is a spiteful act that damages data, steal the stored data, or disrupts digital life. They include viruses, data breaches, DOSattcaks, and other attacks. Cyber Security Management Everything that an organization tries to protect like the information about the operations or the overall data which belongs to the company from attacks, intrusion, malware, and various data breaches.  Roles and Responsibility of CFO A company’s de facto risk officer is a person who must have to analyze the cyber threats and should come up with cybersecurity plans to protect the company’s information. During these pandemic days, everyone is working from home and cyber threats have multiplied largely. So, the CFO should take action and ensure to plan for strate...

 How FDI has shifted the gears of the Indian Economy Foreign Direct Investment was first introduced in the year 1991 by former Prime Minister Sri. Manmohan Singh. Over some time, FDI has helped the Indian economy grow tremendously with a strong backup from the government. A recent survey undertaken states that India has overtaken China and the US as the top destination for FDI. FDI has turned out to be a major source of non-debt financial resources for the economic development of our country besides being a critical driver of economic growth. What attracts many foreign companies to invest in India is the availability of cheap manpower, low wages, and special privileges such as tax exemptions and so on. It also means achieving technical know-how and generating vast employment opportunities. What has made the foreign capital flow into the country is the government’s favorable policy regime and robust business environment. The initiatives taken by the government in recent years concer...

  Advantages of Company Registration / Subsidiary company in India A  foreign subsidiary company  is a partially or wholly-owned company that is a part of a larger corporation. The larger corporation must be headquartered in another country. The foreign subsidiary company works according to the laws of the country in which they are located. We have listed 9 important advantages if your register a foreign company . Control Establishing a subsidiary company in India gives the  parent  company  operational and strategic control over the company. This becomes a very vital benefit for the parent company. Synergies  Synergies are combining two services together to get a combined or greater effect. Establishing subsidiary companies provide the benefit of synergies where a common financial system is used, sharing the cost incurred between the parent company and subsidiary. Brand name The brand name is retained as both the parent company and the subsidiary bear...

 How to register for professional tax in Bangalore We all must have come across the term ‘Professional tax registration’ somewhere or the other. But did you ever try to find out what exactly is this PT registration is all about? The next time you get your payslip, take a couple of minutes off to study the break-up of the deductions. You may come across the term ‘Professional Tax’. Do not panic or get confused with this term with Income tax. Both are altogether different terminologies like how a north pole and a south pole differ from one another. However, your salary slip may not mention professional tax because not all Indian states impose it. The states that impose the professional tax are Andhra Pradesh, Assam, Bihar, Gujarat, Karnataka, Kerala, Madhya Pradesh, Meghalaya, Orissa, Sikkim, Tamil Nadu, Telengana, Tripura, and West Bengal. Now in this blog let us know what is a ‘Professional Tax is all about? Professional tax is a tax imposed by the state government. Professional ta...

  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 tax  is by paying salary to the   directors   Profits can be shared as salary instead of sharing as dividends   Sitting fee can be paid to the directors for attending board or committee meetings Assets can be categorized as capital assets in 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 expenses lik...

  Why is a trademark or a logo registration important for your business Trademarks act as an effective communication tool A  trademark  has the ability to convey attributes of emotions and intelligence and convey positive messages about the brand to the general public. It also conveys a positive image for your company’s brand. Protects your brand Your trademark does not have to be a word always; it can also be a single logo which will be recognized globally. Trademarks make it easier for customers to find you. They act as efficient commercial communication tools that help to capture the attention of target customers which leads to further increase in sales. Utilization of Social media and the internet When a customer is interested in buying a product that is sold by your brand, the first thing that he or she does is entering your brand on a social media platform to view the products sold by your brand. Higher traffic leads to higher ranking for the brand on the internet. ...

  Basic Requirements For Private Limited Company Registration A minimum of two  shareholders  and two  directors  Shareholders and directors can be the same person  Foreign nationals and NRIs can also be directors as well  It is mandatory for all directors to have  DSC  (Digital Signature Certificate)  Maximum 3 directors are allowed in the form at the initial time of Incorporation  Note*:   Once you receive the Incorporation, You can choose to have an addition and removal of directors at any point in time.  Minimum Paid-up and Authorized capital Paid-up capital:  The actual amount of shares that are issued by the company to its shareholders. The capacity to issue more shares depends on the authorized capital of the company. Authorized capital:  This is the maximum amount of shares the company can issue. Approval from the shareholder and the payment of a fee to the government is required to increase the authorize...

LLP Registration Benefits in  India An  LLP  is a type of business entity where all the partners have limited liabilities. The LLP is the most popular option for professionals for conducting their business and it is a good choice for those who are involved in the business of consultancy. It is a separate legal entity and the partners are liable for their respective contributions. It has flexible management roles It is easier to form an LLP. The formation  of an LLP  only require the partners to fill out a registration form and file it with the local secretary of the state The cost involved in registering an LLP is comparatively lesser than that of a  Private Limited Company . Transfer of ownership is easy. There is no maximum limit of partners when it comes to incorporating your business as an LLP. A minimum capital requirement is not needed to  register your firm  as an LLP The liability of members in respect in respect to the LLPs debt is l...

Description Of A Private Limited Company Private Limited companies are those companies that are privately held by people. From local businesses to corporates,  a  Private Limited Company   is one of the most preferred   business entities. Shareholders of a  Private Ltd company  may operate the business themselves, or hire directors to manage the company. A private limited company follows a  legal Structure For Businesses. Angel Investors, Banks, Venture Capitalists, and other budgetary organizations prefer investing in a private limited company. Do you want to set up a  Private Limited Company in India?  Aavana is the right choice. When you choose us, you’ll surely get quality and budget-friendly business services. Private Limited Company Registration At Affordable Rates Aavana Corporate Solutions will also help in online private company registration. We specialize in company registration with a wide range of business entities like Private li...