Sole Proprietorship Meaning Here are several distinctive features that define a sole proprietorship: Single Ownership: The business is own and operate by a single individual, who is known as the sole proprietor. Unlimited Liability: The sole proprietor is personally liable for all the debts and obligations of the business. This means that personal… Read More »
Business partnership vs LLC A business partnership and a limited liability company (LLC) are two distinct legal structures for businesses. Business partnership vs LLC: 1.Liability Protection: Partnership: In a partnership, partners have unlimited personal liability for the debts and obligations of the business. This means that if the partnership cannot meet its financial obligations, partners… Read More »
Registration to License Registration to license are two separate processes that are often required for starting and operating a business. Here’s an overview of the differences between business registration and business licensing: Business Registration: Purpose: Business registration is the process of officially establishing a business entity with the government or relevant authorities. It provides… Read More »
Business License for Partnership In many jurisdictions, obtaining a business license is a requirement for operating a partnership. A business license is a permit or authorization granted by the government or local authorities that allows a business, including a partnership, to legally operate within a specific area. The specific requirements for obtaining a business… Read More »
Difference business Registration & license Compliance with laws, Business registration and a business license are two separate processes that are often required for operating a legal business. Here’s the difference between the two: Unique identification number Business Registration: Business registration is the process of officially establishing a business entity with the relevant government authorities.… Read More »
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 »
Register as Pvt LTD company in India Register as Pvt Ltd company in india, Obtain a Digital Signature Certificate (DSC): In order to initiate the registration process, it is necessary for the proposed directors of the company to obtain a Digital Signature Certificate. This certificate serves as a secure electronic identification for the directors,… Read More »
OPC or Sole Proprietorship Here’s an overview of each: OPC (One Person Company): OPC is a legal business structure that allows a single individual to establish a company with limited liability. It provides benefits such as separate legal identity and limited liability protection, meaning the personal assets of the owner are generally protected… Read More »
Requirements for Pvt Ltd license Requirements for Pvt Ltd license, To clarify, there is no specific license called a “Private Limited License” in India. However, you can register a private limited company by following the steps mentioned below: Choose a unique name: Select a unique name for your company and ensure that it adheres… 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 »
