Supporting documents Supporting Documents, To register a trade name for GST (Goods and Services Tax) registration of a proprietorship in India, the following documents are generally required 1.PAN (Permanent Account Number) card of the proprietor: PAN card is a mandatory requirement for GST registration. It serves as an identity proof for the proprietor. 2.… Read More »
MSME in India MSME stands for Micro, Small, and Medium Enterprises in India, MSMEs play a crucial role in the country’s economic growth and employment generation. The Government of India recognizes the importance of MSMEs and has implemented various policies and programs to support their development and growth. MSMEs are categorized according to their capital… Read More »
Types of Reserves There are typically two types of reserves that can appear on a corporate balance sheet: revenue reserves and capital reserves. Revenue reserves are create from profits earn by the company and not distributed as dividends to shareholders. These reserves can be used for a variety of purposes, such as reinvesting in… Read More »
OPC to LLP Conversion: The entrepreneurial landscape in India has evolved significantly, offering different forms of business structures suited to various needs. One Person Company (OPC) and Limited Liability Partnership (LLP) are two such options that cater to different business owners. However, as businesses grow, entrepreneurs may seek more flexible structures. One common scenario… Read More »
Registering partnership Registering partnership,The process of registering a partnership can vary depending on the jurisdiction where you plan to operate. However, here are some general steps involved in registering a partnership: Choose a Business Name: Select a unique name for your partnership that complies with any naming requirements or restrictions in your jurisdiction. Partnership Agreement:… Read More »
Required Document for Pvt. Ltd Company The documents required for private limited company registration in India typically include the following: Identity and Address Proof Requirements for Directors and Shareholders: To fulfill the registration process, it is necessary to provide valid identity and address proof for both directors and shareholders involved in the company. These proofs… Read More »
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. Here are the general criteria for GST registration: Threshold Turnover: If your company’s annual turnover exceeds the specified threshold, GST registration is mandatory. The threshold limits vary based on the… 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 »
