How much does a partnership registration cost in India?

A partnership registration typically costs around 10k in the online portals and it may cost upto 50000 and beyond when done by experienced chartered accountants, advocates and other professionals. However, the price may further vary based on the number of partners and the complexity of terms of agreement between the parties. The partnership registration includes the partnership deed drafting and its registration. Sometimes you may be able to avail GST registration, MSME registration, PAN and TAN registration in a single package. The documents required for partnership registration includes the ID proof and address proof of partners and the proof of place of business such as rent agreement/ noc. For Company Registration in Kerala and Business Registration in Kerala, visit https://www.parpella.com

How does one become a company secretary?

To become a company secretary in India, you need to enroll with the Institute of Company Secretaries in India (ICSI). The ICSI will be conducting the examinations which should be cleared before enrolling as a Company Secretary in India.

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What is a limited company registration?

A limited company more specifically called a public limited or public company registration is the process by which a company obtains a legal validity in India. A limited company or public company can be formed by minimum 3 directors and 7 shareholders.

The whole process of company registration is regulated by the ministry of corporate affairs under the ministry of finance.

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How close can two company names be to avoid trademark issues?

The both companies/ business should not be spelt identically. Even if the spellings are slightly different but they are phonetically identical, the trademark application will be rejected.

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Is it better to have 1 owner or 2 owners for an LLC?

 are one person companies and private limited companies where 2 or more members are mandatory both of which are legal forms of business. However, in case of one person companies, there are several restrictions with respect to the share transfer, external investments etc. A normal private limited company is more flexible in terms of ownership and share transfers. Anyways whether to go for one person company or private limited company is based on personal preferences. For Company Registration in Kerala and Business Registration in Kerala, visit https://www.parpella.com

(1) What is OPC Registration? (2) Can a company secretary (CS) do a business of his own?

(1) What is OPC Registration? OPC Registration otherwise the one person company registration is the process by which an one person company is incorporated. One Person Company is the company form of business with only one member. (2) Can a company secretary (CS) do a business of his own? Yes. A company secretary can do business/ practice on his own. For Company Registration in Kerala and Business Registration in Kerala, visit https://www.parpella.com

What is meant by ‘DP nominee’ body corporate in LLP (limited liability partnership)?

As per the companies act, 2013, a company/ body corporate can become a partner in an LLP.

In that case when a company is a designated partner in an LLP, the company needs to appoint a person as on behalf of the company as the authorised representative in the LLP who is called the DP nominee.

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What is presumptive taxation under the Income Tax Act?

Presumptive taxation is a method of offering the profits on a presumptive basis rather than the actual basis. Under presumptive taxation, you can offer a specific percentage or fixed amount as income despite offering the actual income. For example if your Sales is 1 crore, you may offer 6% of the sales that is Rs.6 lakhs and pay tax based on that instead of offering the actual profits which may be higher say 30 lakhs.

Certain conditions are applicable for one to be eligible to opt for presumptive taxation which are detailed in sections 44 AD, 44 ADA and 44 AE.

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Can a private holding company parent a public company?

Even if a public company is held by a private company, its status is still a public company and not a private company. A classic example for this is the Tata Group.

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How long does it take to register a company?

A company can be registered even in 5 days. However, the average duration of registering the company considering the normal delay in document collection, vetting and uploading typically ranges between 2 to 3 weeks.

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What happens if you ignore a tax audit?

If you are liable to tax audit but not complying to it purposefully, penalty upto Rs.100,000 can be imposed. Further, the AO can be behind you with his series of notices and can waste your time, energy, money and peace of mind.

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How do I find out the GST compliance rating of a vendor?

As of now, the GST compliance rating has not been introduced it’s still in the planning stage. However, you can get the details of GST filing by your vendor by visiting the link “services.gst.gov.in/services/searchtp” give the GSTIN and clicking show filing table in the inside window

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What is the procedure for registration under GST?

GST Registration can be obtained by logging into www.gst.gov.in first a temporary registration will be allotted based on the PAN, mobile, and email id with which you may create an account. After that, you need to fill in the details, attach the supporting documents and submit the application.

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(1) Being an NRI, can I buy shares in India? (2) Should I trademark my upcoming business name?

(1) Being an NRI, can I buy shares in India?

Yes. An NRI can buy shares in India. However, he/ she needs to open a demat account and an account with the broker.

(2) Should I trademark my upcoming business name?

The decision to go for trademarking depends upon the visibility of your business. If you’re planning to start your business in a large scale with intense marketing, better to do trademark first and register the business later. On the other hand if your business takes off slowly, better to register the business first and the trademark later.

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How can I register a Pvt. Ltd. company in India?

Registration of Pvt limited company is a 3 step process and the entire registration process is regulated through the ministry of corporate affairs. The steps involved are as follows.

1. Name application

The name application is moved with proposed name and objects of the company. The name should not be identical with an already existing company/LLP/trademark. Once the name meets its eligibility criteria, MCA approves the name application ideally within 2 working days.

2. DSC Registration

The next step or the simultaneous step side by side with the name application is DSC registration in which the digital signature shall be created. The digital signature shall be obtained with copy of PAN card and aadhar card.

3. Incorporation Forms filing.

Once these two steps are completed, the incorporation forms including MOA, AOA and agile forms shall be submitted to the MCA with the identity proof and address proof of directors and shareholders.

When the incorporation form is approved, the company is said to be registered and the incorporation certificate can be obtained.

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Is private limited company director is classified as employee or self employed?

The director is a whole-time director or managing director, he is classified as an employee of the company where as the independent directors/ non executive directors are not employees of the company. In any case the directors are not considered as self employed.

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How do I remove/replace a shareholder in a private limited company without commencement of business and a bank account in India?

It is not possible to transfer the shares before depositing the paid-up capital in the bank account and filing INC 20 A. The first shareholders/ subscribers are those mentioned in the MOA and AOA of a company and by default, the shares are allotted to the first subscribers/ shareholders.

Hence, the first subscribers are required to deposit the paid-up capital in the bank account of the company and file INC 20 A for any further transactions to take place. The shareholders can be removed or replaced only through share transfer and share transfer can be done only after depositing the paid up capital in the bank account and filing INC 20A.

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