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+91 8600544422Public Limited Company Registration
Public Limited Company (also known as Limited Company) is generally suitable for large scale business that have huge capital requirement. The shares of a public limited company can be easily listed and traded on a stock exchange. It can induct unlimited shareholders and there shall be no restriction on transfer of shares.
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Online Company Registration
A private limited company, is a type of privately held small business entity, in which owner liability is limited to their shares, the firm is limited to having 200 or fewer shareholders, and shares are prohibited from being publicly traded. A company becomes an independent legal structure when Online Company Registration happens. Private limited online company registration is governed by the Ministry of Corporate Affairs, Companies Act, 2013 and the Companies Incorporation Rules, 2014
Private Limited Company, the most popular legal structure for businesses, should be chosen by anyone looking to build a scalable business. It is one of the most popular legal structure option for businesses in India. A Private limited company registration requires a minimum of two members and a maximum of two hundred members. A director of a private limited company has limited liability to creditors. In case of a default, banks / creditors can sell only company’s assets but not the personal assets of a directors. A Private limited company is considered one of the most popular corporate entity amongst the small, medium and the large businesses in India due to its various advantages. Start-ups and growing businesses choose for online company registration in India because it allows outside funding to be raised easily, limits the liabilities of its shareholders and enables them to offer employee stock options to attract top talent. As these entities must hold board meetings and file annual returns with the Ministry of Corporate Affairs (MCA), they tend also to be viewed with more credibility than a Limited Liability Partnership (LLP), One Person Company (OPC), or General Partnership.
About Service
The process for Online Company Registration is governed by the Ministry of Corporate Affairs, Companies Act, 2013 and the Companies Incorporation Rules, 2014. A natural person can be a director and as well as shareholder, where a corporate legal entity can only be a shareholder. In addition to that, foreign nationals, foreign corporate entities or NRIs are also allowed to be the Directors and/or Shareholders of a Company with Foreign Direct Investment, making it the preferred choice of entity for foreign promoters.
Advantages Of Online Company Registration
Limited Liability
Businesses often need to borrow money. In a General Partnership, partners are personally liable for all this debt. So if it cannot be repaid by the business, the partners would have to sell their personal possessions to do so. In an LLP, only the amount invested in starting the business would be lost; all personal property would be safe.
No limit on owners of business
An LLP requires a minimum 2 partners while there is no limit on the maximum number of partners ; this is in contrast to a private limited company wherein there is a restriction of not having more than 200 members.
- Dividend Distribution Tax (DDT) not applicable
In the case of a company, if the owners to withdraw profits from company, an additional tax liability in the form of DDT @ 15% (plus surcharge & education cess) is payable by company. However, no such tax is payable in the case of LLP and profits of a LLP can be easily withdrawn by the partners.
Reduced Compliance
An LLP only requires audited annual returns to be filed if it has a turnover of greater than Rs. 40 lakh or capital contribution of over Rs. 25 lakh. It also needs to communicate fewer business transactions and structural changes than a private limited company.
Owning Property
A LLP being an artificial judicial person, can acquire, own, enjoy and sell, property in its name. No Partner can make any claim upon the property of the LLP – so long as the LLP is a going concern.
Minimum Requirements For Online Company Registration
Minimum 2 Shareholders
Atleast 1 of the designated partners shall be an Indian Resident
Minimum 2 Partners
DPIN & DSC’s for all the Designated Partners
Minimum Contribution of 2 Rupees
What Is Included In Our Online Company Registration Package?
DIN for 2 Directors
Name search & approval
Company PAN /TAN Card
Company Master File Kit
DSC for 2 Directors
MOA and AOA
Company Registration Certificate
Supporting Document for opening Bank Account
Procedure For Online Company Registration
Application of DSC DIN
First of all, the partners have to apply for Digital signature and DPIN. Digital signature is an online signature used for filing and DPIN refer to Directors PIN number issued by MCA. If the directors already have DSC and DPIN, then this step can be skipped.
Name approval
You need to provide 2 different options for your company name to MCA of which one will be selected. Names provided should ideally be unique and suggestive of company business
MOA & AOA drafting & submission of forms
Once name is approved, one needs to draft Memorandum of association and Articles of Association. All required details are filed to MCA in Spice forms once the drafting is completed.
Get incorporation certificate, PAN and TAN
It typically takes 7-12 days for company registration and get the incorporation certificate. Incorporation certification is a proof that company has been created. PAN and TAN will be received from Income Tax department physically in 15-20 days approximately.
Bank Account
You can submit the Incorporation certificate, MOA, AOA with a bank to open your bank account.
Documents Required For Online Company Registration
- Identity and Address Proof
Identity and the address proof will be needed for all the directors and the shareholders of the company to be incorporated. In case of an Indian national, PAN card is mandatory. For the foreign nationals, apostilled or notarised copy of the passport has to be submitted mandatorily. All documents submitted should be valid. The residence proof documents like the bank statement or the electricity bill must be less than 2 months old.
Registered Office Proof
All companies should have a registered office in India. To prove admittance to the registered office, a recent copy of electricity bill or gas bill or water bill or telephone bill must be submitted. Along with the rental agreement, utility bill or the sale deed and a letter from the landlord with her/ his consent to use the office as a registered office of the company should be submitted.
List of documents to be submitted by the Director and the Shareholders
Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
Scanned copy of Voter’s ID/Passport/Driver’s License
Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
Scanned passport-sized photographFor the Registered Office
Scanned copy of Latest Telephone or Electricity or Gas Bill or Water bill
Scanned copy of Notarized Rental Agreement in English
Scanned copy of No-objection Certificate from property owner
Scanned copy of Sale Deed/Property Deed in English (in case of owned property)Note: Your registered office need not be a commercial space; it can be your residence, too.
FAQ
On average, it takes 10-15 working days to file a copyright application. However, after application, the Copyright Office will process the copyright on its end and will examine whether your copyright qualifies for registration or not. It may take certain months of time for the completion of the registration process at the Copyright Office.
It generally takes about 8-12 months for copyright to get registered, the processing time at Copyright Office generally depends on many factors. If the copyright gets objected or opposed by someone, it may take a much longer time.
No, Copyright comes into existence as soon as a work is created, and no mandatory registration is required. However, the certificate of registration of copyright and the entries made in the register shall serve as prima facie evidence in a court of law with reference to disputes relating to ownership of copyright. Therefore, it is always advisable to copyright the work in India.
The general term of a copyright is 60 years. In the case of original literary, dramatic, musical and artistic works, the 60-year period is counted from the year following the death of the author. In the case of cinematograph films, sound recordings, photographs, posthumous publications, anonymous and pseudonymous publications, works of government and works of international organizations, the 60-year period is counted from the date of publication.
Copyright protects the rights of authors, i.e., creators of intellectual property in the form of literary, musical, dramatic and artistic works and cinematograph films and sound recordings.
Yes, both published and unpublished works can be registered under copyright.
Yes, Computer Software or programme can be registered as a ‘literary work’. ‘Source Code’ and “Object Code” have also to be supplied along with the application for registration of copyright for software products.
A website usually consists of different rudiments which may be copyrightable subject that falls within any one of the classes of works under the Copyright Act, 1957. The component parts of a website can be in different forms of digital files such as text, tables, computer programmes, compilations including computer databases (“literary works”); photographs, paintings, diagram, maps, charts, or plan (“artistic works”); works consisting of music and including graphical notation of such work (“musical works”); “sound recordings” and “cinematograph films”. The website as a whole is not subject to copyright protection.
An App is a complete, self-contained computer program that is designed to perform specific tasks. An App usually has primarily dynamic content and is designed for user interaction. It may be used directly or indirectly in a computer or hand-held electronic device. An App may be registered as a computer program under literary works, and the applicant is required to submit the source and object code.
It is important to note that the registration will cover any screen displays generated by that program, provided that the computer program (code) generating the screen display is submitted by the applicant. Mere snapshots of screen displays of an app are not eligible for copyright protection.
Yes, an opportunity of hearing is given to the applicant and concerned parties. However, only after hearing, it may be decided to register the work or to reject it.
Yes, the owner of a copyright may assign or transfer copyright to any person, either wholly or partially and either generally or subject to limitations.
A trademark is an intellectual property that is being assigned to a word, logo, device, etc. but on the other hand, copyright is assigned to protect your unique content such as books, music, videos, songs, or computer software.
On average it takes 1-2 months of time for completion of conversion. However, this is dependent on the workload of the government authorities.
There is no such requirement, all the required documents are filed electronically, so you would not need to be physically present. You would just need to send us scanned copies of all the required documents and forms.
Existing members of Private Limited Company whether individual or a body corporate shall become the member/shareholder of the private limited.
There should be minimum of 7 members for conversion of Private Limited Company into Public Limited Company.
The existing directors/shareholders of Private Limited Company may become directors in the Public Limited Company on conversion.
Yes, a Private Limited Company with secured loan may convert itself into Public Limited Company after obtaining No Objection Certificate (NOC) from such creditor.
There is no upper limit on the number of members/shareholder but there can be maximum of 15 directors in Public Limited Company, for further increase special approval of shareholder is required.
Yes, consent of majority of members is mandatory for conversion of Private Limited Company into Public Limited Company.
Yes, a public limited company should get its book audited and file the same with the Registrar of Companies (ROC) every year.
There is no minimum capital required. However, a minimum capital of Rs. 07.00 should be there if there are 7 shareholders.
A public limited company is a company that is not a private limited company and can be formed for any lawful purpose by 7 or more persons. The securities of a public company may be quoted on a Stock Exchange. Its number of members is not limited to 200 and can induct unlimited members.
Yes, after conversion you can bring an initial public offering (IPO) and issue shares to the public by complying with the procedure prescribed under law and regulations issued by SEBI
Yes, you need to hold the equity share of an unlisted public limited company in dematerialized form only. All unlisted public companies are obliged to get their shares converted into Demat form.
A Public Limited Company shall have to file a reconciliation of the share capital audit report on half yearly basis to the ROC, it is also required to file board resolutions and general meeting resolutions to the concerned ROC. The eligible public company also needs to follow provisions related to Independent Director, rotation of auditors, appointment of KMP etc. apart from regular annual compliances.
On average, it takes 15-20 days for conversion, 2 different approvals (Name Approval & Final Approval) are required from government bodies. However, this is dependent on the workload of the Central Registration Centre (CRC), MCA.
There is no such requirement, all the required documents are filed electronically, so you would not need to be physically present. You would just need to send us scanned copies of all the required documents and forms.
Any individual or organization can become a member/shareholder of the private limited company, including foreigners/NRI. However, such a person must be 18+ above in terms of age and should have a valid PAN card. Therefore, the sole proprietor along with any other person can become member of the Company.
There should be a minimum of 2 directors in a Private Limited Company, out of which atleast 1 director should be a permanent resident of India.
Yes, the sole proprietor may become a director in the company on conversion.
For incorporation of a company, a unique name of a company must be reserved with the Ministry of Corporate Affairs (MCA). The applicant may keep the name of sole proprietorship concern with the word “Private Limited” if such name is not resembling any existing company/LLP/trademark and such name should qualify guidelines as prescribed by MCA. To know more about name approval guidelines, refer to our article – https://www.registrationarena.com/name-approval-guidelines-as-per-companies-act-2013/
There is no minimum capital required as such prescribed. However, one needs to start a company with a minimum capital of Rs. 02.00 if there are 2 shareholders.
Yes, the consent of sole proprietor is mandatory for conversion into company.
A shareholder or member is an owner of a company who holds certain shares in the company and his name is entered in the register of members of the company. Whereas, Director is a person who manages the day-to-day function of a business. Director and shareholder may or may not be the same person.
The Memorandum of Association (MOA) is a document that sets out the constitution of a company and is therefore the foundation on which the structure of the company is built. It defines the scope of the company’s activities and its relations with the outside world.
The Articles of Association (AOA) are the company’s bye-laws or rules and regulations that govern the management and internal affairs and the conduct of its business. Both the documents are required to be registered with the Registrar of Companies at the stage of incorporation of the company.
Yes, a private limited company should get its book audited and file the same with the Registrar of Companies (ROC) every year.
Capital gain on conversion of sole proprietorship firm is not applicable only if the conditions as per Income Tax Act 1961 is satisfied, otherwise a sole proprietor has to pay capital gain tax.
Sump Sale is a sale of business venture/undertaking as a whole for a lump sum consideration without values being assigned to the individual assets or liabilities. A slump sale agreement is executed between the seller and purchaser to complete sale/transfer of business.
No, a minor cannot become a director or shareholder in a company. However, a minor can become a member/shareholder of a company through gift and/or inheritance, but he cannot enter into an agreement to buy shares.
Yes, you can register the company at your residential address. You need to submit the utility bill of your home address along with the No Objection Certificate from the owner of the premises.
No, there are no renewal required, registration of company is one time process, however yearly annual compliances are required to be followed.
Yes, there is a stamp duty to be paid during incorporation. The stamp duty depends on authorized capital, and it is different for each state. The stamp duty is generally paid online during the incorporation process.
You will receive these documents in soft copy via email as well as we shall send you a printout of these documents at your address.
Know about mandatory compliances here
On average it takes 1-2 months of time for completion of conversion, 3 different approvals are required from government bodies, one for name confirmation, second for incorporation and conversion, and last one for LLP Agreement. However, this is dependent on the approval from Government Authorities.
There is no such requirement, all the required documents are filed electronically, so you would not need to be physically present. You would just need to send us scanned copies of all the required documents, forms, and LLP agreement.
Yes, all the shareholders/members of the Company shall become the partners of the LLP on conversion.
There should be a minimum of 2 shareholders/members in the company for conversion into an LLP, if there are more than 2 shareholders than all the shareholders/members of the Company shall become the partners of the LLP on conversion
The partners of LLP shall have to nominate minimum 2 designated partners amongst them.
A partner is a person or body corporate who has invested capital towards LLP and agrees to share profits and losses, risks, and rewards amongst each other as per the LLP agreement. On the other hand, designated partner can be only an individual who has a valid DIN and is recognised as such in LLP agreement, who shall oversee the day-to-day functions of the LLP, similar to the role of director in a company.
No, a company with open or unsatisfied charges cannot convert itself into LLP.
Yes, at least one balance sheet and annual return should have been filed by the company after its incorporation and all the pending filings has to be completed.
Yes, similar to a private limited company, LLP shall have perpetual succession as per law. However, it is pertinent to note that statutory annual compliances are required to be completed by LLP mandatorily. In case of non-compliance Registrar of Companies (ROC) shall be bound to strike off the name of LLP.
No, private limited company or unlisted public company can be converted into LLP with the same name as that of the company at the time of conversion.
Yes, the consent of secured creditor is mandatory for conversion of company into LLP
LLP Agreement means any written agreement between the partners of the LLP or between the LLP and its partners which determines mutual rights and duties of the partners and their rights and duties in relation to that limited liability partnership. It defines the roles, responsibilities, rights, and powers of the partners to LLP and to each other, it clarifies the managerial, operational as well administrative responsibilities and sets clear methodologies for decision making, adding a new partner and disassociation of existing partner, etc.
There is no mandatory audit required for LLP. It is required only in those cases where the turnover of the company exceeds Rs 40 lakhs or where the contribution exceeds Rs 25 lakhs.
On conversion of Company to LLP, capital gains tax shall not be applicable if the transfer satisfies the conditions prescribed under Income Tax Act 1961.
No, as per LLP Act movable, immovable and intangible property of the company including all assets, interests, rights, privileges, liabilities, obligations relating to the company and the whole of the undertaking of the company shall be transferred to limited liability partnership (LLP) without any contract or deed.
Yes, LLP is required to file annual returns (LLP Form 11) and a Statement of Account & Solvency (LLP Form 8) every year with ROC. Also, a designated partner holding DIN/DPIN is required to file DIN KYC with ROC every year.
You will receive these documents in soft copy via email as well as we shall send you a printout of these documents at your address.
Know about mandatory compliances here – https://registrationarena.com/annual-compliance-of-llp/
On average, it takes 12-15 days for completion of registration of Wholly Owned Subsidiary (WOS), 2 different approvals (Name Approval & Final Approval) are required from government bodies. However, this is dependent on the workload of the Central Registration Centre (CRC), MCA.
No, company registration is a completely online process. All the required documents are filed electronically, so you would not need to be physically present at all. You would just need to send us scanned copies of all the required documents & forms.
A Foreign Company can incorporate a Wholly Owned Subsidiary (WOS) Private Limited Company with majority stake, while the remaining stake shall be issued to a person/body corporate/trust nominated by a foreign company who shall hold the share in beneficial interest on behalf of the company. This is in order to satisfy the minimum shareholder criteria of number two (2) in case of Private Company and seven (7) in case of Public Company as per the Indian Companies Act.
There should be a minimum of 2 directors for the formation of a Wholly Owned Subsidiary (WOS) Private Limited Company or 3 directors for the formation of a Wholly Owned Subsidiary (WOS) Public Limited Company, out of which at least 1 director should be a permanent resident of India.
Yes, Wholly Owned Subsidiary (WOS) Company in India shall have perpetual succession as per law. However, it is pertinent to note that statutory annual compliances are required to be completed by company mandatorily. In case of non-compliance, Registrar of Companies (ROC) shall be bound to strike off the name of company.
- For incorporation of a company, a unique name of a company must be reserved with the Ministry of Corporate Affairs (MCA). The name should qualify guidelines as prescribed by MCA. To know more about name approval guidelines, refer to our article –https://www.registrationarena.com/name-approval-guidelines-as-per-companies-act-2013/
- The foreign company can use its name or registered trademark as coin word for the name of Wholly Owned Subsidiary (WOS) Company. It can also add the word “India” in its name.
- The Foreign company may also keep a unique or completely different name for its Wholly Owned Subsidiary (WOS) Company.
Initially, you can submit 2 names for name reservation to MCA, out of which 1 name will be approved based on availability. If the initial 2 names are rejected, then one more chance of re-submission for applying fresh 2 names is provided. So, in total, 4 names can be applied in a single application.
There is no minimum capital required. However, in order to start a Wholly Owned Subsidiary (WOS) Company a minimum capital of Rs. 02.00 (In case of Private Limited Company) and Rs. 07.00 (In case of Public Limited Company) shall be required.
Yes, directors and shareholders can be the same person in a company. But if you want to have separation in ownership and management, then you can appoint a different individual as shareholders and directors.
No, a minor cannot become a director or shareholder in a company. However, a minor can become a member/shareholder of a company through gift and/or inheritance, but he cannot enter into an agreement to buy shares.
The Memorandum of Association (MOA) is a document that sets out the constitution of a company and is therefore the foundation on which the structure of the company is built. It defines the scope of the company’s activities and its relations with the outside world.
The Articles of Association (AOA) are the company’s bye-laws or rules and regulations that govern the management and internal affairs and the conduct of its business. Both the documents are required to be registered with the Registrar of Companies at the stage of incorporation of the company.
You can incorporate a Wholly Owned Subsidiary (WOS) Company with a maximum of 200 shareholders and 20 directors (In the case of Private Limited). In the case of Public Limited Company, there can be upto 20 directors and there is no upper limit on the number of members.
Yes, a company should get its book audited and file the same with the Registrar of Companies (ROC) every year.
Yes, you can register the company at your residential address. You need to submit the utility bill of your home address along with the No Objection Certificate from the owner of the premises.
Yes, NRIs and Foreign National can become directors and shareholders in a Wholly Owned Subsidiary (WOS) Company along with the required documents, also they can hold majority shares in the company. However, at least one Director on the Board of Directors should be a permanent resident of India.
Yes, you can induct or allot shares to any other Private Limited Company, Public Company, LLP, Body Corporate, Registered Society.
You will receive these documents in soft copy via email as well as we shall send you a printout of these documents at your address in India.
You will receive a certificate of Incorporation of Company approved by Government, alternatively, you can also check the Corporate Identification Number (CIN) and the name of the company on the Ministry of Corporate Affairs (MCA) portal under “View Company/LLP Master Data” option.
GST registration is required for those businesses whose aggregate turnover crosses the prescribed limit or such business that does the inter-state supply of goods/services, etc. So, every company has to check whether it supplies goods to different states or qualifies for the prescribed turnover limit or any other conditions as specified under GST laws. For more information, you can visit – https://registrationarena.com/gst-registration/
A public limited company is a company that is not a private limited company and can be formed for any lawful purpose by 7 or more persons. The securities of a public company may be quoted on a Stock Exchange. Its number of members is not limited to 200 and can induct unlimited members.
No, there is no renewal of a Wholly Owned Subsidiary (WOS) Company, once it’s registered it will be valid for a lifetime. However, you have to do mandatory compliance every year.
Yes, you can change the registered office address of the company after the company is registered, by following the prescribed procedure as per law.
Yes, you can keep virtual office or co-working space as registered office address of the company by providing utility bill of such office premises along with No Objection Certificate (NOC) from the owner. However, you have to make sure that you have the facility to receive and acknowledge letters, notices, and documents from various authorities at that address. Also, you have to paint or affix the company’s name and address outside the office.
Yes, there is a stamp duty to be paid during incorporation. The stamp duty depends on authorised capital, and it is different for each state. The stamp duty is generally paid online during the incorporation process.
In India, FDI is prohibited in the following sectors :
- Lottery Business including Government/private lottery, online lotteries, etc.
- Gambling and Betting including casinos etc.
- Chit funds
- Nidhi company
- Trading in Transferable Development Rights (TDRs)
- Real Estate Business or Construction of Farm Houses (‘Real estate business’ shall not include development of townships, construction of residential /commercial premises, roads or bridges and Real Estate Investment Trusts (REITs) registered and regulated under the SEBI (REITs) Regulations 2014.)
- Manufacturing of cigars, cheroots, cigarillos and cigarettes, of tobacco or of tobacco substitutes
- Activities/sectors not open to private sector investment e.g.(I) Atomic Energy and (II) Railway operations (other than permitted.
- Foreign technology collaboration in any form including licensing for franchise, trademark, brand name, management contract is also prohibited for Lottery Business, Gambling and Betting activities.
Yes, a company that receives Foreign Direct Investment (FDI) must comply with the FEMA provision and needs to file Form FC-GPR with RBI within 30 days from the date of receipt of money in respect of the shares allotted. Further, equity shares, debentures, or preference shares of Wholly Owned Subsidiary (WOS) should be issued within 60 (sixty) days from the date of receipt of the money. In case, if the instruments are not issued within 60 days, the amount of consideration so received should be refunded within fifteen (15) days to the non-resident investor.
Yes, Wholly Owned Subsidiary (WOS) Company needs to file FLA return to RBI before 15th July after the end of the relevant financial year.
On average it takes 1-2 months of time for completion of conversion, 2 different approvals are required from government bodies, one for name confirmation, second for incorporation and conversion into Company. However, this is dependent on the workload of the Central Registration Centre (CRC), MCA.
There is no such requirement, all the required documents are filed electronically, so you would not need to be physically present. You would just need to send us scanned copies of all the required documents and forms.
All the partners of the LLP whether individual or a body corporate shall become the member/shareholder of the private limited.
There should be a minimum of 2 partners in the LLP for conversion of LLP into Private Limited Company, but for conversion of LLP into Public Limited Company there shall be atleast 7 partners.
The designated partners of LLP may become director in the company on conversion.
Yes, an LLP with secured loan may convert itself into LLP after obtaining No Objection Certificate (NOC) from such creditor.
While converting into private limited company, there can be maximum of 200 shareholders and 15 directors.
Yes, the consent of a majority of partners is mandatory for the conversion of LLP into the company.
The Memorandum of Association (MOA) is a document that sets out the constitution of a company and is therefore the foundation on which the structure of the company is built. It defines the scope of the company’s activities and its relations with the outside world.
The Articles of Association (AOA) are company’s bye-laws or rules and regulations that govern the management and internal affairs and the conduct of its business. Both the documents are required to be registered with the Registrar of Companies at the stage of incorporation of the company.
Yes, a private limited company should get its book audited and file the same with the Registrar of Companies (ROC) every year.
Yes, a notice about conversion shall be published in newspapers of English and vernacular language seeking objections.
Know about mandatory compliances here
Any individual who is competent to enter into a contract or a body corporate established under the law may be a partner of a Partnership Firm.
No, a partnership firm does not have a separate existence apart from its members.
All the person who has given their consent as a partner in the Partnership Deed/Agreement shall become partners of the Firm. Post incorporation, new partners can be admitted to the firm as per rules and requirements prescribed under the Partnership Deed/Agreement.
The ending word of Partnership Firm can be as per liberty of partners, it may contain words such as “And Associates”, “And Company”, “Enterprises” etc.
In order to protect your unique name, you can apply for trademark registration of the Partnership Firm name.
Partnership Deed or Partnership Agreement means any document between the partners of the firm which determines the rights, duties, roles, responsibilities, liabilities of the partners, it clarifies the managerial, operational as well administrative responsibilities and sets clear methodologies for decision-making, adding a new partner and disassociation of existing partner, etc. The agreement can be either in written or oral form.
Yes, an unregistered partnership can be registered at any time after its formation.
There is no statutory audit for Partnership Firm. However, it shall get its book audited as per Income Tax Laws if its turnover crosses the specified threshold.
Yes, you can register Partnership Firm at your residential address. You need to submit the utility bill copy of your home address along with the No Objection Certificate from the owner of the premises.
Yes, NRIs and Foreign National can become partners in a Partnership Firm with the required documents and by complying with the FEMA Guidelines.
Yes, you can admit any Private Limited Company, Public Company, LLP, or a Body Corporate as a partner in your Partnership Firm.
GST registration is required for those businesses whose aggregate turnover crosses the prescribed limit or such business that does the interstate supply of goods/services. So, every Partnership Firm has to check whether it supplies goods to different states or qualifies for the prescribed turnover limit or other conditions as specified under GST laws.
On average it takes 15-20 days for completion of registration, 2 approvals are required from governmental bodies. However, this is dependent on the workload of the Central Registration Centre (CRC), MCA.
No, company registration is a completely online process. All the required documents are filed electronically, so you would not need to be physically present at all. You would just need to send us scanned copies of all the required documents & forms.
Any individual, organization, company, LLP, corporate