Proprietorship
Proprietorship Registration including GST and Udyam Registration.
- Basic
- GST Registration
- Udyam Registration
Documents Required
- PAN Card
- Aadhaar Card
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1. Proprietorship
Proprietorship Registration including GST and Udyam Registration.
- Basic
- GST Registration
- Udyam Registration
· Documents Required
- PAN Card
- Aadhaar Card
Terms and conditions
Premium LEDGERS Accounting Software with GST Portal Integration and eWay Bill Software.
Proprietorship Registration
Sole proprietorship is one of the oldest and easiest Business Structure to start in India. A proprietorship is a type of business that is owned, managed, and controlled by one person – who is the proprietor. As the proprietorship and proprietor are one and the same, it is very easy to start and there are very minimal compliance requirements.
As the proprietor and the business are one and the same, a proprietorship cannot have other partners or shareholders. Further, there is no limited liability protection for the proprietor from the business activities conducted in the sole proprietorship.
Hence, this type of business entity is best suited for every small businesses with no more than 5 employees.
Who is a sole proprietor?
A sole proprietor is the sole owner of the proprietorship business. Hence, a business will be carried forward by making new bank account for the business and GST registration will be done by using PAN and Aadhar of the proprietor. The proprietor is completely responsible for all the assets and liabilities of the business.
How to check proprietorship status?
In India, we don’t have to register sole proprietorship. Hence, there is no platform to check the status of a sole proprietorship. However, if a proprietor has applied for
GST registration, the GST registration and filing status of the proprietorship can be checked on the GST Portal to confirm the existence of the proprietorship.
Proprietorship legal entity status and recognition
There is no separate recognition of proprietorship as a separate legal entity. Hence, the business owner and the proprietorship are considered one and the same for all legal and official purposes.
Sole Proprietorship Registrations & Licenses
To run a proprietorship business in India, the proprietor will have to obtain PAN and Aadhar. The proprietor must obtain GST registration, UDYAM registration and open a bank current account. In some states, the proprietor will also have to obtain Shops & Establishment Act registration.
In addition to the basic requirements above, additional license and permits may be required depending on the industry, state, and local regulations.
Advantages of Proprietorship
Easy registration: Sole proprietorship does not have any formal incorporation or dissolution process – as its the same as the Proprietor. However, to operate a business, the proprietor may have to obtain certain registrations and licenses to be compliant with the laws and regulations of India.
Lower compliance: As most proprietorship are only registered with government departments like Income Tax & GST, the compliance burden will be lower. On the other hand, entities like LLP or Company are registered with the Ministry of Corporate Affairs and have to file various statutory returns and be audited by a Chartered Accountant each year.
Simplicity: As there are no partners, shareholders, or directors, the proprietor can easily operate this business with minimal documents and consent requirements. Hence, this type of business structure is best suited for very small businesses.
Business decision: In a proprietorship, the business owner takes all business decisions. There is no consent or approval required from any other person. Hence, a proprietor can normally take quick decisions regarding his business affairs.
Complete control: As sole proprietorship is owned only by the proprietor. He/she has complete control over the assets, revenue, expenses and all business operations.
Disadvantages of Sole Proprietorship
Funding: This type of business structure relies solely on one persons savings, borrowings and credit history. As there are no other persons are involved in this type of business structure, raising funds from banks will be very hard. Raising equity funds will not be possible – as this type of business entity does not allow for profit sharing or shareholding.
Personal liability: If a proprietor is unable to pay business loans or taxes, in a proprietorship – the personal assets of the business owner can be attached or
GST registration, the GST registration and filing status of the proprietorship can be checked on the GST Portal to confirm the existence of the proprietorship.
Proprietorship legal entity status and recognition
There is no separate recognition of proprietorship as a separate legal entity. Hence, the business owner and the proprietorship are considered one and the same for all legal and official purposes.
Sole Proprietorship Registrations & Licenses
To run a proprietorship business in India, the proprietor will have to obtain PAN and Aadhar. The proprietor must obtain GST registration, UDYAM registration and open a bank current account. In some states, the proprietor will also have to obtain Shops & Establishment Act registration.
In addition to the basic requirements above, additional license and permits may be required depending on the industry, state, and local regulations.
Advantages of Proprietorship
Easy registration: Sole proprietorship does not have any formal incorporation or dissolution process – as its the same as the Proprietor. However, to operate a business, the proprietor may have to obtain certain registrations and licenses to be compliant with the laws and regulations of India.
Lower compliance: As most proprietorship are only registered with government departments like Income Tax & GST, the compliance burden will be lower. On the other hand, entities like LLP or Company are registered with the Ministry of Corporate Affairs and have to file various statutory returns and be audited by a Chartered Accountant each year.
Simplicity: As there are no partners, shareholders, or directors, the proprietor can easily operate this business with minimal documents and consent requirements. Hence, this type of business structure is best suited for very small businesses.
Business decision: In a proprietorship, the business owner takes all business decisions. There is no consent or approval required from any other person. Hence, a proprietor can normally take quick decisions regarding his business affairs.
Complete control: As sole proprietorship is owned only by the proprietor. He/she has complete control over the assets, revenue, expenses and all business operations.
Disadvantages of Sole Proprietorship
Funding: This type of business structure relies solely on one persons savings, borrowings and credit history. As there are no other persons are involved in this type of business structure, raising funds from banks will be very hard. Raising equity funds will not be possible – as this type of business entity does not allow for profit sharing or shareholding.
Personal liability: If a proprietor is unable to pay business loans or taxes, in a proprietorship – the personal assets of the business owner can be attached or
2. Partnership
Partnership Firm Registration
Partnership deed drafting along with GST registration.
- Basic
- Partnership Deed Drafting
- GST Registration
· Documents Required
- Pan Card Aadhar Card
Rental Agreement Partnership Firm
The law relating to partnership firm in India is prescribed in the Indian Partnership Act of 1932. This Act lays down the rights and duties of the partners between themselves and other legal relations between partners and third persons, which are incidental to the formation of a partnership. Thus, the Act establishes the position of a partner as well as a partnership firm vis-à-vis third parties, in legal and contractual relations arising out of and in the course of the business of a partnership firm. In this article, we look at the various aspects of running a partnership firm in India in detail.
Partnership
A partnership is a relationship between individuals who have agreed to share the profits of a business carried on by all or any one of them acting for all as stated in Section 4 of the Indian Partnership Act. Therefore, a partnership consists of three essential elements.
- A partnership must be a result of an agreement between two or more
- The agreement must be built to share the profits obtained from the
- The business must be run by all or any of them representing the All these conditions must coexist before a partnership can come into existence.
Essential Elements of a Partnership
Some key elements are required for the formation of a Partnership. They are listed below with a brief explanation.
An Agreement
An agreement from which a partnership relationship arises may be expressed. It may also be implied from the Partnership Act done by the partners and from a consistent course of conduct being followed, showing a mutual understanding between them. This agreement may be oral or in writing.
Sharing Profit of Business
there must be a business that exists. For this purpose, the term ‘business’ would generally mean every trade, occupation, and profession. The existence of a company is crucial. The motive of a business is the “acquisition of gains” that leads to the formation of a partnership. So, there can be no partnership where there is no intention to carry on a business and to share the profits obtained from the same. For example, co-owners who share the rent derived from a piece of land are not considered partners as a business does not exist. Similarly, no charitable institution or club may be called a partnership.
However, a Joint Stock Company may be floated as a partnership for non- economic purposes.
Types of Partnership Partnership at will
A partnership by will is a partnership where there is no provision made by contract between the partners for the duration of their partnership, or the determination of their partnership.
Particular Partnership
A particular partnership is when a person becomes a partner with another individual in a particular business enterprise or for a particular business venture or undertaking, such as the construction of a road, laying a railway line, etc. This sort of partnership shall come to an end on the completion of the task for which it was initially formed.
Types of Partners
Active/ Actual/ Ostensible Partner When a partner of a partnership firm,
- hasbecome a partner by an
- activelyparticipates in the conduct of the
The partner of the firm acts as a representative of other partners for all the acts carried out in the usual business lifecycle of the business. In the event of a retirement of a partner, the person must give a public notice to absolve himself of their liabilities for acts carried out by the other partners after his retirement.
Sleeping or Dormant Partner
A Sleeping or a Dormant Partner is a partner
- whois a partner by agreement;
- whodoes not actively take part in the conduct of the
These partners share their profits and losses and are liable to third parties for the business carried out by the partnership firm. However, they are not required to give public notice of their retirement from the partnership firm.
Nominal Partner
A nominal partner is an individual who lends his name to the partnership form. When this is done without having any real interest in the business, the person is a nominal partner. This kind of a partner is not entitled to share the profits of the firm. This partner has neither invested in the firm nor takes part in how the business is run at the firm. Although, such a partner is liable to third parties for all the actions taken by the firm.
Partner in Profits only
This is a partner who is entitled to have a share of the profits without being liable to the losses. This kind of a partner is liable to third parties only for acts of the gain.
Sub-Partner
A Sub partner is a partner in a partnership firm who agrees to share his profits in a partnership firm with an outsider to the firm. A sub-partner does not hold any right against the firm nor is liable to any debts caused by the firm.
Incoming partners
This is a partner who is admitted as a partner into an already existing firm with the consent from all the other existing partners. Such a partner is not liable for any acts of the form taken before his entry as a partner to the firm.
Outgoing Partner
An outgoing partner is a partner who leaves the firm in which the rest of the partners continue to carry on the business. Such a partner remains liable to third parties for all the actions taken by the firm until a public notice concerning his retirement is given.
Partner by holding out (Section 28)
Partnership by holding out is also called as a partnership by estoppel. This is when an individual holds himself out as a partner or allows others to do so, the person is then stopped from denying the character he has assumed and upon the faith of which creditors may be presumed to have acted. When an individual represents himself or knowingly permits himself, to be represented as a partner in a partnership firm (when in fact he is not) he is liable, like a partner in the firm to anyone who on the faith of such representation, had given credit to the firm.
An individual may themselves, by their words or conduct has induced other to believe that they are a partner or they may have allowed others to represent them a partner. The result in both the situations is identical.
APNATAXWALA- PARTNERSHIP FIRM REGISTRATION SERVICE IN DELHI
Establishing a partnership firm is a frequent alternative for many business operations in areas where entrepreneurship thrives. However, doing the legalities and legal requirements of registering a partnership firm can be a difficult undertaking. APNATAXWALA provides the unmatched partnership firm registration services in Delhi to expedite the registration process and guarantee compliance with the most recent rules. He has years of experience and a thorough understanding of partnership company registration
procedures. This experience of APNATAXWALA is highly appreciable in dealing with such cases.
What are partnership firm registration services?
Partnership firm registration services include the legal procedures for formalizing a partnership business structure. It involves getting the required certificates from the relevant authorities and registering the partnership deed. This procedure offers a number of advantages and protections as it establishes the partnership as a separate legal entity from its partners.
Benefits of registering partnership firm
Following are the benefits of registering partnership firm-
- Legal recognition: the partnership firm gains legal recognition upon registration, which facilitates the execution of contracts, the conduct of business, and the enforcement of legal rights in the event of a
- Limited liability: Limited Liability Partnerships (LLPs) provide partners with limited liability protection; thus, insulating their personal assets from corporate
- Access to finance: it is easier to obtain financing for registered firms because registered partnership firms are more credible in the eyes of investors and
- Tax benefits: The government offers tax exemptions and benefits to registered partnership firms, which lowers the tax burden on corporate income. • Perpetual succession: Registration guarantees the survival of partnership firms even in the case of ownership or partner changes, thus, giving the company stability and longevity.
APNATAXWALA is the best lawyer for having partnership firm registration services in Delhi
Advocate Apnataxwala is a reputable legal professional with a track record of remarkable outcomes when it comes to partnership firm registration services in Delhi. He guarantees his clients a seamless and trouble-free experience due to his extensive experience managing partnership business registration procedures. The CA has helped many clients register their partnership firms with accuracy and efficiency with years of experience. His thorough attention to detail and extensive understanding of legal procedures guarantee that every facet of partnership business registration is carefully considered.
Our CA is completely updated with the latest laws related to partnership firm registration services in Delhi
Keeping up with the most recent changes to partnership business registration legislation is essential to delivering quality legal services. APNATAXWALA is dedicated to lifelong learning and keeps up with all the newest changes and rules pertaining to the partnership firm registration services in Delhi. This guarantees that during the registration procedure, clients receive correct and current guidance.
Why choose us for having the best partnership firm registration services in Delhi?
Clients should choose APNATAXWALA for having the best partnership firm registration services in Delhi because of the following reasons-
- Experience: APNATAXWALA offers thorough support and direction as an accomplished advocate with particular knowledge in partnership firm registration services.
- Tailored approach: We recognize that each client has particular needs. APNATAXWALA provides individualized solutions that are designed to satisfy unique needs of each client while safeguarding their interests.
- Timely execution: Efficiency and timely execution are our top We make sure that partnership firm registration procedures are finished on time so that clients may concentrate on their business objectives.
- Transparent communication: The main focus of our strategy is open and honest communication. Apnataxwala informs clients at every stage of the registration procedure, and responds to any questions or concerns right
- Client satisfaction: Having satisfied clients is our main objective. APNATAXWALA works hard to go above and beyond expectations of his clients; thus, providing outstanding service and obtaining favorable
3. One Person Company
OPC Registration
One Person Company registration including Government Fee & Stamp Duty. Incorporation kit with share certificates.
- Basic
- One Person Company Registration
- ShareCertificates
- Current Account Opening
- 2Digital Signature
· Documents Required
- Pan Card Passport
Voters Identity Card
4.LimitedLiability Partnership (LLP)
LLP Registration
LLP registration and deed drafting including Government Fee & Stamp Duty.
- Basic
- LLPDeed Drafting
- LLP Registration
- Current Account Opening
- 2Digital Signatures
· Documents Required
- Pan Card
Passport (Foreign Nationals Only) Voters Identity Card
LLP Registration
LLP Registration in India has become an alternative form of business that provides the advantages of a Company and the flexibility of a Partnership firm into a single organization. The Concept of LLP in India was introduced back in
2008 by the Limited Liability Partnership Act of 2008. This unique hybrid is suitable for setting small, medium-sized businesses.
LLP Registration FAQ's Who are eligible for LLP?
To form an LLP, at least two individuals (called Designated Partners) must be appointed. The individuals must be aged 18 or above and must possess a valid Indian address. Designated Partners can be individuals or bodies corporate (such as companies). Foreign nationals, foreign corporate bodies and limited liability partnerships can also be appointed as Designated Partners.
How much does an LLP cost?
The cost of registering an LLP in India depends on the number of partners, the amount of the contribution made by each partner and any additional registration fees. There are additional costs associated with setting up an LLP in India, such as professional fees, stamp duty, and other registration requirements.
Is GST required for LLP?
Yes, Goods and Services Tax (GST) is required for all Limited Liability Partnerships (LLPs) depending on the type of services or goods they offer. LLPs are required to obtain a GST registration and file GST returns on a regular basis.
What is a Digital Signature Certificate?
A DSC is helpful in identifying the sender or the signee electronically. The Ministry of Corporate Affairs (MCA) has made it mandatory for all the designated partners to apply with the Digital Signatures.
What is DPIN?
Designated Partner Identification Number is a unique identification number that is assigned to all existing and proposed Designated partners of an LLP. All the present or proposed Directors must have a DPIN.
How long does it take to incorporate an LLP?
The time taken for incorporation depends on the submission of relevant documents by the client as well as the Approvals from the Government authorities. India Filings can help you Incorporate an LLP in 14-20 days. Can NRIs/ Foreign Nationals be designated partners in LLP?
An NRI can be a designated partner in a Limited Liability Partnership if he has a Designated Partner Identification Number. However, at least one Designated Partner in the LLP must be a resident Indian.
Do LLPs allow Foreign Direct Investment (FDI)?
FDI is allowed under automated route in an LLP by the Foreign Investments Promotion Board (FIPB). Note: Foreign Institutional Investors and Foreign Capital Investors are not allowed to invest in LLPs.
Can we convert a Partnership Firm into an LLP?
An existing partnership firm or a Company that is unlisted can be converted into an LLP. This conversion into an LLP brings in many benefits.
What documents are required for incorporating an LLP? For the Partners
- PAN or Passport
- Any Identity proof
- Bank statements Registered office proof
- NOC from the landlord to use the premises of the registered office
- Any utility bills of the premises which are not less than two
5.Private Limited Company
Private Limited Company
Company registration including Government Fee & Stamp Duty*. Incorporation kit with share certificates.
- Basic
- CompanyRegistration
- ShareCertificates
- CurrentAccount Opening
- 2Digital Signatures
· Documents Required
Pan Card
Passport (Foreign Nationals Only) Aadhaar Card
6.Startup India Registration
Startup India
Startup India Registration by DPIIT with pitchdeck and Ledger’s accounting software.
- Basic
- Startup India Recognition
Documents Required
- Proof of Funding
- Documents of Awards
- Patent documents
Startup India Recognition
Startup India is an Indian Government initiative that is intended to build a strong eco system for nurturing innovation and startups in the country to drive sustainable economic growth and generate large scale employment opportunities. Through this initiative, the government aims to empower Startups to grow through innovation and design.
The objectives of the Startup India Movement are outlined below. The action plan envisages supporting the startups and more:
- Enhanced infrastructure, including incubation centers
- IPR facilitation, including easier patent filing
- The better regulatory environment, including the tax benefits, easier compliance, improved setting up of a company, fastest mechanism and
- A goal to increase the funding opportunities
- Provide a vast networking database for the entrepreneurs and other stakeholders in the startup ecosystem.
Eligibility Criteria
The startup must meet the following eligibility criteria to avail the DPIIT Certificate of Recognition:
- Period of Existence of Entity: The Period of existence and operations of the company should not exceed 10 years from the date of formation
- Type of Entity: The DPIIT Certificate of Recognition is provided for the company which is incorporated as a Private Limited Company, a Limited Liability Partnership (LLP) or a Registered Partnership Firm.
- Annual Turnover: To get the DPIIT Certificate of Recognition, The firm should have an annual turnover of Rs. 100 crore for any of the fiscal years since its federation
- Original Entity: To avail the DPIIT Certificate of Recognition, the company should not have been incorporated by splitting up or recreating an already existing entity.
- Innovative& Scalable Entity: The entity should be working towards development or improvement of a product, process or service.
- The entity should have a scalable business model with high potential for the creation of wealth and employment. The firm should have the potential to generate employment or create wealth.
7. Indian Subsidiary
Indian Subsidiary
Incorporation of company as Indian subsidiary of foreign company including Incorporation kit and share certificates.
- Basic
- Company Registration
- Share Certificates
- Current Account Opening
- GST Registration
- 3Digital Signatures
- 1RUN Name Approval
Indian Company Registration
India as one of the fastest growing economies in the world attracts plenty of Foreign Direct Investment (FDI) and Private Equity capital. According to a recent report by Nomura, a Japanese Brokerage firm, FDI into India is likely to have hit high of $34.9 billion in financial year 2015, a massive 61.6 per cent jump from $21.6 billion in the previous fiscal. With the world’s second largest population and a large talent pool of skilled IT professionals, India continues to be an attractive destination for investment amongst Foreign Companies and Foreign Nationals. In this article, we provide a comprehensive guide to Indian Private Limited Company and India entry strategy for foreign nationals and foreign companies.
Overview of India Entry Strategies for Foreign Companies / Foreign Nationals Following are the available types of entry strategies into India:
Incorporation of a Private Limited Company or Limited Company
Incorporation of a private limited company is the easiest and fastest type of India entry strategy for foreign nationals and foreign companies. Foreign direct investment of upto 100% into a private limited company or limited company is under the automatic route, wherein no Central Government permission is required. Hence, incorporation of a private limited company as a wholly owned subsidiary of a foreign company or joint venture is the cheapest, easiest and fastest entry strategy for foreign companies and foreign nationals into India.
Incorporation of a Limited Liability Partnership
Incorporation of a Limited Liability Partnership (LLP) is also an India entry strategy for foreign nationals or foreign citizens as 100% FDI in LLP is now allowed. An LLP, however, cannot have shareholders and must be represented by Partners – thereby making it an ideal choice for investment vehicles and professional firms.
Through Proprietorship Firms or Partnership Firms
Proprietorship firms or Partnership firms are the most basic types of business entities mostly used by very small businesses or unorganized players. Foreign investment into a proprietorship firm or partnership firm requires prior RBI approval. Hence, proprietorship firms or partnership firms are not suitable for a foreign company or foreign national investment into India.
Registration of Branch Office, Liaison Office or Project Office
Registration of Branch Office, Liaison Office or Project Office requires RBI and/or Government approval. Therefore, the cost and time taken for registration of branch office, liaison office or project office for a foreign company is higher than the cost and time associated with incorporation of a private limited company. Further, foreign nationals cannot open branch office, liaison office or project office. Hence, this option is limited to being an India entry strategy only for foreign companies.
FDI in Private Limited Company
Foreign Direct Investment (FDI) into an Indian Private Limited Company or Limited Company is allowed upto 100% in most sectors. Only a very few sectors require prior Central Government approval for investment by foreign company or foreign national. The following sectors require Government Approval for investment by Foreign Company or Foreign National:
- Petroleum sector (except for private sector oil refining), Natural gas / LNG
- Investing companies in Infrastructure
- Defenseman strategic industries
- Atomic minerals
- Print Media
- Broadcasting
- Postal Services
- Courier Services
- Establishment and operation of Satellite
- Development of Integrated township
- Tea Sector
- AssetReconstruction Companies
8. Nidhi Company
Nidhi Company
Nidhi Company registration including Incorporation kit and share certificates.
- Basic
- Company Registration
- Share certificates
- Current Account opening
- GST Registration
- 8Digital Signatures
- 1RUN Name Approval
· Documents Required
- Recent Utility Bill Nidhi Company Registration
Nidhi Companies in India are created for cultivating the habit of thrift and savings amongst its members. Nidhi companies are allowed to borrow from their members and lend to their members. Therefore, the funds contributed to a Nidhi company are only from its members (shareholders). Nidhi companies are minute when compared to the banking sector and are mainly used to cultivate a saving amongst a group of people. To learn more about starting a Nidhi Company in India, you can also refer to the article “Starting a Nidhi Company” found in the India Filings Learning Center. In this article, we mainly look at the nuances for registration of a Nidhi Company in India.
Nidhi Company Overview
Nidhi Companies are registered Limited Companies involved in taking deposits and lending to their members. The activities of a Nidhi Company does fall under the purview of Reserve Bank of India, as it is similar to an NBFC. However, as Nidhi Companies ONLY deal with shareholder-members money, RBI has exempted Nidhi Companies from the core provisions of the RBI and other regulations applicable to an NBFC.
Restrictions on Nidhi Company
The following are some of the restrictions a Nidhi Company is subject to under Nidhi Rules, 2014. As per Rule 6 of Nidhi Rules, 2014, a Nidhi Company shall NOT:
- carryon the business of chit fund, hire purchase finance, leasing finance, insurance or acquisition of securities issued by any body corporate;
- issue preference shares, debentures or any other debt instrument by any name or in any form whatsoever;
- open any current account with its members;
- acquire another company by purchase of securities or control the composition of the Board of Directors of any other company in any manner whatsoever or enter into any arrangement for the change of its management, unless it has passed a special resolution in its general meeting and also obtained the previous approval of the Regional Director having jurisdiction over such Nidhi;
- carry on any business other than the business of borrowing or lending in its own name: Provided that Nidhis which have adhered to all the provisions of these rules may provide locker facilities on rent to its members subject to the
rental income from such facilities not exceeding twenty per cent of the gross income of the Nidhi at any point of time during a financial year.
- accept deposits from or lend to any person, other than its members;
- pledgeany of the assets lodged by its members as security;
- take deposits from or lend money to anybody corporate;
- enter into any partnership arrangement in its borrowing or lending activities;
- issue or cause to be issued any advertisement in any form for soliciting deposit: Provided that private circulation of the details of fixed deposit Schemes among the members of the Nidhi carrying the words “for private circulation to members only” shall not be considered to be an advertisement for soliciting deposits.
- Pay any brokerage or incentive for mobilising deposits from members or for the deployment of funds or for granting loans.
9. Section 8 Company
Section 8 Company
Incorporation of Section 8 Company including GST and Current account opening.
- Basic
- Company Registration
- Current Account opening
- GST Registration
Documents Required
- Recent Utility Bill Aadhaar Card
Section 8 Company Registration
A Section 8 Company is a non-profit organization that aims to promote charitable activities, art, science, education, and sports. The profits of such companies are utilized for promoting these objectives and are not distributed among the Company’s members.
At India Filings, we provide end-to-end services for registering Section 8 companies in India. Our team of experts offers hassle-free and professional services to help you establish a Section 8 company quickly and efficiently. Contact us today to avail of our professional services for registering your Section 8 Company in India.
Overview of Section 8 Company Registration
A Section 8 Company is a type of corporation established to promote non- profit activities, such as education, social welfare, environment preservation, arts, sports, charity, and more. This follows the provisions of the Companies Act 2013.
The essential purpose of registering a Section 8 Company is to encourage non-profitable goals, including but not limited to trade, arts, commerce, education, charity, environmental protection, sports research, and social welfare. To register a Section 8 Company, a minimum of two directors are required, and there is no requirement for a minimum paid-up capital to set up such a company.
Key Points about Section 8 Company
- In India, Non-Governmental Organizations (NGOs) can be registered under the Registrar of Societies or as a non-profit entity under Section 8 Company of the Companies Act, 2013.
- Profit generated by Section 8 Companies cannot be used for purposes other than charitable objectives and cannot be distributed among shareholders.
- Section8 Companies are similar to the erstwhile Section 25 Company under the Company Act 1956. As per the prevailing Company Act, these are now recognized as Section 8 Companies.
- Section 8 Companies are required to comply with the provisions of the Companies Act 2013. They are mandated to maintain books of accounts, file returnswith the Registrar of Companies (ROCs), and comply with GST and IT
- Any changes to the charter documents like the Articles of Association (AoA) and Memorandum of Association (MoA) require the government’s consent.
10. USA Company Registration
USA Company Registration
Includes LLC or C-Corporation Incorporation along with 1 Year Registered Agent. (FastTrack company incorporation with EIN number)
Documents Required Passport
USA Company Registration
USA Company registration is now easy as there is no need to travel to the USA or physically be present in the USA. As the process can be commenced and completed online in less than a week through India Filings.
Indian Companies looking to expand or have a non-resident Indian Customer base can enjoy several USA company registration advantages.
The United States being a developed nation, is an economic superpower because of its advanced infrastructure, technology, and abundant natural resources. The economy is service-oriented, contributing 80% of its GDP, whereas manufacturing contributes about 15% of its output.
With rapid development and globalization and a substantial English-speaking population, Indian businesses are unique to exploring the American market. With the lowest corporate taxes and well-established business laws and practices, most Indian companies with global ambition think that the USA is the right choice.
11. Digital Signature
GST Registration
End-to-End Assistance for GST registration and ensure to have harmonious process for Invoicing, E-invoicing and filing through software.
- Company
- ePass2003 USB Encrypted Token
- 2Year eMudhra Digital Signature in name of the Company to file Government tenders
- Individuals
- ePass2003 USB Encrypted Token
- 2Year eMudhra Digital Signature
Documents Required
- PAN Card Copy
- Passport Copy
- Electricity bill
Digital Signature Certificate Online
A Digital Signature Certificate (DSC) is a cryptographically secure key issued by certifying authorities (CAs) to validate and verify the identity of the person who holds this certificate. DSCs are predominantly issued and utilized when businesses need to digitally sign documents online, securely authenticate the Signature, and validate the signed copy.
DSC is a statutory requirement for submitting various forms to the Government of India. DSC uses public-key encryption for the creation of a signature. A digital signature certificate will be embedded in electronic documents, emails, and other digitally transmitted documents. These signatures provide and enhance security using encryption technology.
Class 3 Digital Signature Certificate
Class 3 DSC is the most secure certificate with a signature and encryption certificate. India Filings will help you get the Class 3 DSC with an encryption certificate and a USB token; it can use for encryption and signing. A signature certificate is used to sign a document, while an encryption certificate is used to encrypt the data. Class 3 DSCs will be issued to individuals and companies/organizations.
Class 3 Digital Signature can use for many purposes such as MCA e-filing, Income Tax e-filing, e-Tendering, LLP registration, GST application, IE code registration, Form 16, Patent and trademark e-filing, Customs e-filing, e- Procurement, e-Biding, e-Auction and more.
Class 3 DSC for Individual
Apnataxwala can help individuals to obtain Class 3 Digital Signature with ePass Token. The authorized person can attach DSC to documents that are submitted electronically. It guarantees the confidentiality and validity of electronically supplied records.
12. Udyam Registration
UDYAM Registration
UDYAM registration and LEDGERS Accounting Software for providing estimates, invoices, tracking purchases, filing GST returns and generating GST eWay bill.
- Basic
- UDYAM Registration
- LEDGERS Accounting Software
· Documents Required
Aadhaar Card PAN Card
Udyam Registration
Udyam Registration or MSME Registration is the new process for registering MSME (micro, small and medium enterprises) launched by the Ministry of Micro, Small & Medium Enterprises on July 1, 2020. The Ministry had also revised the definition of MSMEs from the same date. An enterprise for this process is known as Udyam, and its Registration Process is known as Udyam Registration. A permanent registration number along with a recognition certificate will be issued after Registration.
The Udyog Aadhaar registration has been transformed to the Udyam registration since July 2020. Udyam registration has made the process more accessible than it was earlier, at the time of Udyog Aadhaar registration. Udyam registration is essential for availing the various benefits of schemes or programs of the Ministry of MSME, such as the Credit Guarantee Scheme, public procurement policy, additional edge in Government Tenders and protection against delayed payments, etc.
Udyam Registration Certificate
After completion of the process of Udyam Registration, a certificate will be issued online. This Udyam Registration Certificate will have a dynamic QR Code from which the details about the enterprise can be accessed.
Udyam Registration Benefits
The Udyam Registration is a simple process and there is no need to handle the paperwork for obtaining Udyam Registration. Having Udyam Registration for your venture entitles your Business to the following benefits:
- Special Preference in Procuring Government Tender
- Udyam registration will help to get the bank loans without Collateral/ 1 % percent Exemption on the interest rate on Bank Overdraft (OD)
- There are various tax rebates available for Udyam registered
- Higher preference is provided to businesses registered under Udyam for government license and certification.
- Registered Udyam gets tariff subsidies and tax and capital subsidies
- Concessional Electricity Bills
- It gives protection against the delay in payment from Buyers
- Tax Rebates
- Special 50%discount on Government fees for Trademark and Patent filing
- FastResolution of Disputes
13.Import Export Code
Importer Exporter Code
Start an import or export business from India. Enjoy exclusive offers from DBS Bank India on low forex rates and LEDGERS Export invoicing software.
- Startup New Registration
- DGFTIE Code
- Export Invoicing Software
- DBS Exporter Account
- Scaleup Upgrade Registration
- DBS Exporter Account
- DGFT Digital Signature
- ICE Gate
- GSTLUT
- RCMC Registration
· Documents Required
- PAN Card Aadhaar Card
- Incorporation Certificate
- Importer Exporter Code (IEC Code)
An Importer Exporter Code (IEC) is crucial business identification number which mandatory for export from India or Import to India. Unless specifically exempted, any person shall make no export or import without obtaining an IEC. For services exports, however, IEC shall not be necessary except when the service provider is taking benefits under the Foreign Trade Policy.
Consequent to the introduction of GST, IEC being issued is the same as the PAN of the Firm. However, the IEC will still be separately published by
DGFT based on an application. This article looks at the procedure for making an IE Code application in detail.
Import Export Code (IE Code)
Import & Export Code is to be obtained by the business entity for import into or export from India. Import & Export Code is popularly known as the IEC number. Import & Export Code is a ten-digit unique number issued by the Directorate General of Foreign Trade (DGFT).
IEC registration certificate is mandatory for a business involved in import and export. Hence, before initiating an import of goods into India, an importer must ensure that the importing entity has GST registration and IE code – both of which are required to clear customs.
If an importer does not have both IE code and GST Registration, the goods will be stuck at the port and start incurring demurrage charges or could be destroyed.
Importance of Import Export Code
Businesses have a great option to enter the international market with the export and import of the products and the services they are involved in. The IE code is an essential requirement while entering the global market as it supports the growth and development of the business to a certain extent.
There are various advantages of getting an Import Export Code. Here we have listed a few of them:
- International market unlocks: As the IE Code is a requirement for the import and export business, they allow the products to reach the global market. IE code makes the entry of the international Indian company smoother and opens doors for growth and expansion.
- Online registration: The process to find the IE Code is entirely online and hassle-free with short document submission.
- Less document requirement: It is not required to submit many documents to obtain an IEC.
- Lifetime Validity: IE Code is a lifetime registration valid as long as the business exists. Hence, there are no issues with updating, filing, and renewing Import Export Code The IE registration is valid until the company exists or the registration is not revoked or surrendered.
- Reduces illegal goods transportation: The most basic requirement for the Import-Export code is that you need to provide authentic
Without giving proper information, IE code cannot be obtained. This criterion makes the transportation of illegal goods impossible.
- Availing Several Benefits: IE code has enormous benefits for importers and exporters. The registered business entities can get help through subsidies from the Customs, Export Promotion Council or other authorities. With LUT filing under GST, the exporters can make exports without paying If the exports are made with tax payment, the exporter can claim the refunds of the paid tax amount.
- Compliances: Unlike other tax registration, the person carrying import or export does not require to fulfill any specific compliance requirements such as the annual filing or the return filings.
14. FSSAI Registration
FSSAI Registration
FSSAI registration application preparation and filing for small food businesses, petty retailers, juice shops and hawkers by FSSAI consultant.
- Registration
- FSSAI Registration
- FSSAI State License for 1 year
- FSSAI Central License for 1 year
· Documents Required
- Promoters Passport Size Photo PAN Card
- Passport
- FSSAI License and Registration
FSSAI License and Registration is required for any food business in India that manufactures, stores, transports, or distributes food. Depending on the size and nature of the company, FSSAI registration or license may be required. In the FSSAI Registration process, the FBO will get a 14 digit number that needs to be printed on food packages. Obtaining a FSSAI license can provide the food business with legal benefits, build goodwill, ensure food safety, create consumer awareness, and assist in business expansion. Apnataxwala can help you obtain an FSSAI license throughout the country very quickly. We also help to get FSSAI registration. Our experts will guide you in selecting the proper food category and license.
Governing Law
The Food Safety and Standards Authority of India (FSSAI) is a legal authority that offers a food license to all food business operators (FBO) in India.
As per Section 31(1) Food Safety and Standards Act, 2006, every Food Business Operator in the country must be licensed under the Food Safety & Standards Authority of India (FSSAI). The FSSAI licensing and registration procedure and requirements are regulated by the Food Safety & Standards (Licensing and Registration of Food Business) Regulations, 2011.
Food Business Operators Who Require FSSAI Registration?
The Food Business Operators (FBOs) carrying on the following kinds of the food business must have FSSAI License/Registration:
- Petty retailers, Retail Shops, Snacks shops, Confectionery or Bakery shops, etc
- Temporary stalls, fixed stalls, or food premises are involved in preparing, storing, distributing, and selling food products.
- Hawkers sell packaged or freshly prepared food by traveling from one location to another.
- Dairy Units, including Milk Chilling Units, Petty Milkmen, and Milk
- Slaughtering house
- Fish Processing, Meat Processing, and unit
- All Food Manufacturing units that include Repacking food
- Vegetable Oil Processing Units
- Proprietary food and Novel food
- Cold/refrigerated storage facility
- Transporter of food products having several specialized vehicles like insulated refrigerated vans/wagons, milk tankers, food wagons, food trucks, etc
- Wholesalers, suppliers, distributors, and marketers of food products
- Hotels, Restaurants, and Bars
- Canteens and Cafeteria, including mid-day meal canteens
- Food Vending Agencies and Caterers
- Dhaba, PG provides food, a Banquet hall with food catering arrangements, Home Based Canteen, and Food stalls at fairs or religious institutions.
- Importers and Exporters of food items and food ingredients
- E-Commerce food suppliers, including cloud kitchens
- Eligibility Criteria for Food Business Registration/License
- The document attached here provides eligibility criteria for Food Business Registration/License.
15. Professional Tax
Professional Tax Registration
Professional tax registration for employers having less than 20 employees.
· Documents Required
Incorporation Certificate
Professional Tax Registration and Compliance
Professional tax is a direct tax levied on persons earning an income by either practicing a profession, employment, calling, or trade. Unlike income
tax imposed by the Central Government, professional tax is levied by the government of a state or union territory in India. In the case of salaried and wage earners, the professional tax is liable to be deducted by the Employer from the salary/wages, and the same is to be deposited to the state government. In the case of other classes of individuals, this tax is liable to be
paid by the employee himself. The tax calculation and amount collected may vary from one State to another, but it has a maximum limit of Rs. 2500/- per year.
Professional Tax Applicability
This tax is levied on all kinds of professions, trades, and employment. Profession tax is applicable to the following classes of persons:
- An Individual
- A Hindu Undivided Family (HUF)
- A Company/Firm/Co-operative Society/Association of persons or a body of individuals, whether incorporated or not
The professionals earning an income from salary or other practices such as a lawyer, teachers, doctors, chartered accountants, etc. are required to pay professional tax.
Professional Tax Rate
The maximum amount payable per annum towards professional tax is INR 2,500. The professional tax is usually a slab amount based on the gross income of the professional. It is deducted from his income every month.
The Commercial Taxes Department of a state/union territory is the nodal agency that collects professional tax on the basis of predetermined tax slabs which vary for each state and union territory. The tax is calculated on the annual taxable income of the individual; however, it can be paid either annually or monthly.
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