Partnership file as an s-corp What is a Partnership? A partnership is a business arrangement in which two or more individuals collectively own and manage the business. Partnerships are relatively simple to form and manage. The income and losses of the partnership flow through to the partners’ individual tax returns, avoiding the double… Read More »
Formation Website Link: Formation: In India, a One Person Company (OPC) can be formed by a single individual who meets the following criteria: Resident of India: The individual formation the OPC must be a resident of India. This means that they should have stayed in India for a minimum period as prescribed by the government,… Read More »
GST registration for private limited company Yes, GST (Goods and Services Tax) registration is mandatory for a private limited company in India under certain circumstances. Threshold Turnover: If your company’s annual turnover exceeds the specified threshold, GST registration is mandatory. The threshold limits vary based on the type of business and the state in which… Read More »
Can an OPC have two directors No, an OPC (One Person Company) can have only one director. As per the provisions of the Companies Act, 2013 in India, an OPC can have only one director who is also the sole shareholder of the company. The concept of an OPC is designed to enable single-person entrepreneurship,… Read More »
Can an OPC Have Shareholders When considering business structures in India, many entrepreneurs find themselves drawn to the One Person Company (OPC) model. Designed for single entrepreneurs seeking limited liability protection, OPCs offer a unique blend of simplicity and legal recognition. However, a common question arises: Can an OPC have shareholders? Understanding OPC Structure An… Read More »
Registration and license for businesses No, business registration and a business license are not the same, although they are both related to the legal establishment and operation of a business. Here’s an overview of the two concepts: Business Registration: Business registration refers to the process of officially registering a business with the government or… Read More »
OPC use Pvt. Ltd. OPC use Pvt. Ltd, No, an OPC (One Person Company) cannot use the term “Private Limited” or “Pvt Ltd” in its name. The Companies Act, which governs the formation and operation of companies in many jurisdictions, including India, specifically restricts OPCs from using the term “Private Limited” in their name.… Read More »
Compulsory registration of partnership firm Compulsory registration of partnership firm,The requirement for partnership firm registration can vary depending on the jurisdiction and the specific laws and regulations of the country or state where the partnership operates. In many jurisdictions, registration of a partnership is not mandatory, and partners can enter into a partnership agreement… Read More »
Company registration India In India, the registration of a company is open to any individual or group of individuals who meet the following criteria: Directors: A minimum of two individuals are required to act as directors of the company. The directors must be at least 18 years of age and must have a Director Identification… Read More »
OPC have Subsidiary Company In recent years, One Person Companies (OPCs) have gained popularity as a business structure that allows a single individual to own and operate a company. This model offers various advantages, such as limited liability and simplified compliance. However, a common question arises: Understanding OPCs An OPC is a type of… Read More »
