New Company Registration

Who Are Eligible for GST Registration in India A person who is liable to register for Goods and Services Tax (GST) must apply for GST registration within 30 days from the date on which he becomes liable. He can do so by filling up the online application form available on the GST portal. Once the application is submitted, an ARN (Application Reference Number) is generated instantly which helps in tracking the status of the application. Unlike sales tax, which is applied to only retail transactions, Goods and Services Tax is a comprehensive consumption tax that applies at each stage of the supply chain. This can make it a more complicated tax to administer than sales tax. The new system requires businesses to keep detailed records of their purchases and sales, which can add to the cost of doing business. When a person whose aggregate turnover exceeds 20 lakh rupees annually supplies services in any state or union territory, he must obtain GST registration. This i...

What Are the Compliance Required for OPC Private Limited Company A one-person company (OPC) is a form of a legal entity that can be established and controlled by a single member. This is a separate legal entity that can enter into contracts with other parties, and its liability is restricted to the extent of the amount invested by the member. As a result, it is a very common way for a single person to conduct business in India. Like any other business, a one-person company must comply with mandatory annual and event-based compliances. These include filing of annual returns, financial statements, appointment of an auditor, and circulation of documents to members and maintenance of mandatory statutory registers. One of the most important compliances for one-person companies is filing their annual returns. This can be done through MCA Form MGT-7 within a 60-day period of holding their Annual General Meeting (AGM). Non-filing of the annual return levies a penalty...

What Are the Procedures for Formation of LLP in India The Ministry of Corporate Affairs (MCA) has recently introduced a revamped process for LLP incorporation. The major changes are LLP-RUN service (similar to RUN service for Company Incorporation) for reservation of name and the introduction of Form LLP-Integrated Incorporation (FiLLiP) for the incorporating of an LLP. Among other things, the new system allows a Limited Liability Partnership to file forms for various statutory registrations such as GSTIN, Employee State Insurance Corporation (ESIC), Employees' Provident Fund Organization (EPFO) etc. All forms and applications are required to be filed online which necessitates a Digital Signature Certificate (DSC) for each Designated Partner of the LLP. The DSC is linked to the PAN card and a passport size photograph of the person signing on behalf of the LLP is also required. Prior to filing any application, it is prudent to conduct a free name search on th...

Why is IT Filing Mandatory in India It is mandatory to file income tax return in India for the following individuals: - Individuals with taxable income exceeding basic exemption limit. - Individuals having an asset or financial interest located outside India. - NRIs whose total annual gross income earned or accrued in India exceeds Rs 2.5 lakh. Aside from these, any individual can file an income tax return online if they have the following: - Valid PAN. - Income Tax Return Form (ITR-V) duly signed. - A printout of the website's ITR-V acknowledgment (it will have an EVC or Aadhar OTP) sent by post to the Centralized Processing Center, Bangalore, Karnataka within 120 days of e-filing . There are multiple ways of filing your tax returns in India, but the most popular is e-filing with a digital signature. This is a fast and convenient way of filing your taxes, although it can be done manually if you don't have a digital signature. Alternatively, you can send the ITR-V ...

How to Incorporate a New Limited Liability Partnership Registration India Incorporating an LLP is quite similar to setting up any other company, but with less documentation. There are some specific requirements to be met like – Minimum 2 Designated Partners, ID Proof and Address Proof of Partners and Residence of Partners (Note - Foreign Nationals/ NRIs should submit their passport compulsorily). To start the process, first, the proposed Limited Liability Partnership needs to file an application with MCA via RUN-LLP service for getting its name approved by the registrar. Once the ROC approves the name, it will send the DPIN to the proposer along with other details including – The next step is to acquire digital signatures for the designated partners of the LLP. The signatures are obtained by submitting an application to one of the certifying agencies and the cost varies according to the agency. Once the DIN is allotted, the LLP can begin filing its incorpor...

What Are the Documents Required for Company Registration in India The process of incorporating a company has wholly shifted online and is now much simpler than ever. However, there are still a few essential documents that every company should possess. To register a company in India, the first step is to obtain a Digital Signature Certificate (DSC). This is required for all online filings and is available at the Ministry of Corporate Affairs website. After the DSC has been obtained, the next step is to apply for a Director Identification Number (DIN). DIN is a unique number that is assigned to each director of a company. It is also possible to reserve a name for company registration online at the Ministry ofCorporate Affairs website. Providing proof of identity and address for all directors is also necessary to complete the company registration process . This can be done by submitting copies of the director's passport or driving license. In addition, pro...

How to Register a Private Limited Company Online in India If you have an amazing business idea and are thinking of registering it, you should know that there are many steps that need to be taken care of in order to do so. One of these is ensuring that your business is a private limited company. There are a lot of benefits to doing this, including the fact that it will limit your liability and ensure that your personal assets are protected in case your company ever finds itself in financial trouble. To register a Private Limited Company Online in India, you will need to prepare the necessary documents and file them with the Registrar of Companies . This will include the Memorandum of Association and the Articles of Association, as well as a list of directors and proof of registered office address. Once you have completed all of the required steps, it should only take about 10-15 days to get your company incorporated. One of the most important things to do when you are ...

How to Register Annual Filing in India As per The Companies Act and other allied statutes, there are sure compliances which need to be documented by every Private Limited or any Company besides. These incorporate Annual filing as well as other vital forms like revelation by Directors and refreshing the Statutory Register. Hence, it is important for all the Company to pay attention to these compliances and file them as instructed by the MCA. Service of Corporate Affairs (SOC) helps you document and submit these forms on time alongside indicated returns. ROC stands for Registrar of Companies , the government organization in charge of registering all companies and LLPs in the nation. It has its offices in each state and union territory and is headed by a regional director who controls the operations in that jurisdictional area. The ROC is responsible for ensuring that all companies and LLPs maintain proper records, which include financial statements and annual retu...