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What Process for Limited Liability Partnership Registration in Chennai?  "Call Our Business Plan Experts at +91-72999-72500" In India, partnership firms are one of the most common structures for businesses. They are easier to establish and have fewer compliance requirements than a company or LLP. However, there are a few disadvantages of a partnership firm such as it lacks perpetual succession and does not have the flexibility of a separate legal entity. Furthermore, it is difficult to raise capital from third parties as the accounts of a partnership are not publicly accessible. These issues are driving people to convert their partnership firm into an LLP. LLPs are more attractive to investors as they have limited liability and are considered a more professional business structure than a partnership. The Limited Liability Partnership structure also allows for easy transferability of assets and ownership rights. It is also possible to raise funds through i...

What Process for Partnership Registration in Chennai  "Call Our Business Plan Experts at +91-72999-72500" In the business world, there are a number of advantages to running a firm as a partnership. This structure allows for a greater borrowing capacity because two or more partners are able to co-sign for loans. It also gives the owners the flexibility to make quick decisions with a collective discussion and agreement. The partners are also the owners, so they have a stake in the success of the company and tend to be more invested, resulting in an overall higher level of commitment. However, as a partnership, the firm must register with both the Registrar of Firms and the Income Tax Department. Additionally, the firm must apply for a PAN card as a legal requirement for dealing with tax-related activities. The team at Vakilsearch understands the hassle of navigating these processes and provides holistic support to help you get your partnership firm registered q...

Who Can Apply For MSME Registration in India Micro, Small and Medium Enterprises are the backbone of the Indian economy. They generate huge employment opportunities and are the engine of economic growth. To support them, the government has formulated the MSME Act to ensure that they get maximum benefits. The Act offers a number of benefits such as priority lending, cluster financing and more. Any manufacturing or service-oriented business can apply for  MSME registration Consultant in Chennai .  To qualify as a MSME, your business must meet certain criteria. This includes investment limits and turnover. For example, a micro manufacturing enterprise must invest up to Rs 1 crore and have a turnover of less than Rs 5 crore. A small manufacturing enterprise must invest up to Rs 10 crore and have a turnover of less than 5 crore, while a medium manufacturing or service enterprise must invest up to Rs 50 crore and have a turnover of less than 25 crore. Apart from this, ...

How to Get GST Number for Sole Proprietorship Company in India  "Call Our Business Plan Experts at +91-72999-72500" If you own a small business, shop or establishment in India, it is a legal compulsion for you to secure a GSTIN. GST registration is a key step to comply with the country's strict regulations on commercial operations and ensure your business stays out of trouble. However, the process is complex and requires you to keep up with your GST returns. If you're struggling with this, consider seeking help from a GST expert or accountant. Panther can save you 90% of the time you spend on contractor paperwork each month. In order to register a sole proprietorship for GST , you'll need to submit several documents such as PAN card, Aadhaar, and address and identification proof. You'll also need a copy of your lease agreement or NOC, and utility bills for the registered office address. Moreover, you'll need to select an authorised ...

Post Incorporation Compliances for a PVT LTD Company Once a company gets successfully registered, there are certain mandatory compliances that have to be carried out in order for the company to remain compliant. A Private Limited Company is a very popular choice of business structure in India. It ensures credibility and allows the business to scale over time. The process of registering a PrivateLimited Company is relatively simple, but once done there are a number of compliances that need to be catered to. These compliances are outlined below. These statutory compliances are also known as post incorporation compliances. These compliances are as follows: Opening of Bank Account: One of the important post-incorporation compliance is opening of a bank account in the name of the company so that all commercial transactions can be routed through this account. This compliance is mandatory as per the provisions of Section 173(1) of the Companies Act, 2013. Registering Address ...

How Women Entrepreneurs Can Start Business in India? "Call Our Business Plan Experts at +91-72999-72500" Women have always been in the frontline of social change. They have defied norms, taken risks and even faced extreme challenges to achieve success. Entrepreneurship is one such domain where they have proven their mettle, and with the right support, are making a huge impact on society. However, it is a known fact that women entrepreneurs face unique challenges when compared to men. These may include lack of capital, lower personal financial assets and gender discrimination. However, it is encouraging to see how Women entrepreneurs are addressing these issues. They are making a difference to people and businesses with their sheer determination and strength of purpose. Whether it is helping a person overcome a health issue, or providing better products and services to customers, these women are doing everything they can to make a difference. One such woman is Kalp...

How Can a NRI Register a Business in India? As India has one of the largest and fastest-growing economies in the world, it is a popular destination for business. Many NRIs wish to tap into this market and start a new venture. However, they are often unsure about how to go about it. In this article, we will look at some of the key things that a NRI should keep in mind when starting a business in India. The first step is to find out if the NRI is eligible to become a director in an Indian company. According to the Companies Act, 2013, NRIs and foreign nationals can serve as directors in a company set up in India. However, they will have to get a Digital Signature Certificate (DSC) and obtain a DIN before this can be done. Once the NRI is eligible to be a director, the next step is to register the business. The process is fairly simple, and there are a number of online services that can help with the registration process. One such service is FilingPoint.com, which...

What is the difference between an OPC company and Proprietorship Company? "Call Our Business Plan Experts at +91-72999-72500" A One Person Company or OPC is a fusion of Sole-Proprietorship and a private limited company. It is the most popular form of business for entrepreneurs because of its easy funding, perpetual succession and distinct identity in society. It also offers protection of personal assets from the financial liabilities of the firm. Moreover, it is easily scalable to large size and enjoys corporate status in the eyes of banks and other financial institutions making it easier for them to get loans. OPCs also enjoy certain benefits which are not available to sole proprietorship firms , like tax benefits. For example, income from the business is taxed at corporate rates and can avail of various deductions and exemptions which would otherwise not be available to a sole proprietorship firm. In addition, OPCs are required to comply with the s...

What Are the Differences Between a LLP Company and Partnership "Call Our Business Plan Experts at +91-72999-72500" Choosing the right structure for your business is a vital decision that can have both short- and long-term effects. It's important to weigh the pros and cons of each option and consult with your attorney, accountant and tax advisor before deciding which one is best for you. An LLP is a hybrid entity that adopts some characteristics of both a LLP company and a partnership . Owners of an LLP are known as partners and may manage the company themselves (known as member management) or appoint one or more members or non-members to run the business for them (manager management). The management structure, profit-sharing and rights and responsibilities of each partner is set out in the LLP's operating agreement. A key difference between an LLP and a traditional partnership is that in an LLP, owners have limited liability protection. T...

How to Form a LLP Company in India "Call Our Business Plan Experts at +91-72999-72500" The type of business structure you choose will have significant short- and long-term effects, so it's important to consider both the pros and cons carefully before committing. In this article, we'll dig into how to form a LLP company in India and discuss the differences between an LLP and an LLC. The  Limited Liability Partnership Consultant   is a separate legal entity that offers limited liability to its partners. This means that partners' personal assets are not at risk in the event of a financial or legal dispute with the business. Additionally, transferring ownership to a new person is simple. To begin forming an LLP, you'll need to gather the following documents. Then, submit them to the Registrar of Companies (ROC) along with the applicable filing fee. Proof of Residence – Each partner will need to submit their proof of address. This ca...

Benefits of Private Limited Company Registration in Online "Call Our Business Plan Experts at +91-72999-72500" When you are planning to start your business, one of the first decisions you need to make is what kind of entity you want to register it as. This decision will impact the amount of paperwork, taxes and liability you face as an entrepreneur. There are many different types of business structures you can choose from, including sole proprietorships, partnerships, and limited liability companies. Benefits of private limited Company Registration in Online A private limited company is the most popular option for new-edge entrepreneurs, as it offers numerous benefits like separate legal existence and easy fundraising. The most important benefit of a private limited company is that it provides limited liability to its owners. In case of a bad situation, such as the company going bankrupt, the shareholders' personal assets are protected because...

Trademark Registration Process Online in Bangalore "Call Our Business Plan Experts at +91-72999-72500" Trademark registration process online in Bangalore is the most important step for Startups & Small Business to protect their brand name / identity. It gives them prima-facie evidence of ownership, stronger enforceable rights to prevent others from using it and makes it easier to enforce the trademark against unauthorized use in courts. A registered trademark is also a valuable asset which can be sold, licensed or assigned. Trademarks usually cover the whole country, so it is advisable to get the mark registered before commencing commercial activities. The  process of trademark registration Consultant online in Bangalore .  A trademark can be any word, sign, picture, device, label, numerals or combination of colors used by a person to distinguish his goods and services from those of other persons and to indicate the origin of the goods or services. ...

GST Registration Process Online in Chennai GST (Goods and Services Tax) registration is mandatory for business entities whose sales exceed the threshold limit. It is also compulsory for those who wish to take up government contracts and export goods & services. However, businesses can voluntarily apply for GST registration even if their sales are below the threshold limit. Once registered, they will be able to claim input tax credit on the goods and services that they procure. This will benefit them in the long run as they will be able to lower their overall tax burden. Obtaining a GST registration is an easy process, but if done correctly, it will lead to countless benefits for your business. You can check the status of your application through the official website of GST, or you can contact our experts for further guidance and assistance. Here are some steps to follow when applying for a GST registration: You can use this tool to verify the authenticity o...

Roc Annual Filings Process Online in Bangalore We help clients in the Roc annual filings process online in Bangalore by doing their book-keeping and accounting. Once accounts are done we ensure that the same is ready for audit and the ROC annual filings. We also provide assistance in filing of various forms like DIR-3 KYC, MGT-7 etc for ROC compliances. Company Annual Filing consists of the audited balance sheet and profit and loss account, Form MGT-9 Auditor report and Notice for AGM. In addition to that it is mandatory for the company to file income tax returns every year. We help in preparing all the documents required for filing of the ROC return and certifying it. During the financial year 2018 over 2.25 lakh companies were struck off by ROCs for not furnishing the annual returns and financial statements for two consecutive years. The Central Board of Direct Taxes (CBDT) has asked zonal heads to check if any such companies were involved in money-launderin...