Registration Coimbatore

Who are Eligible for GST Registration in India If your business's annual turnover exceeds Rs 40 lakh (or Rs 10 lakh for special category states) you are liable to register yourself under the Goods and Services Tax. The process of registration is online and takes a few days to get completed. The GSTN, which is responsible for managing the IT system concerning the official GST Portal, is going to check the information that you've entered in the application form to ensure that there aren't any mistakes. If the details submitted are found to be incorrect or insufficient, a notice is sent to you asking for additional information and documents within seven working days of submitting the application. If all the details are verified and accepted, your registration certificate is issued in the GST portal with a 15-digit unique identification number that needs to be quoted on all official documents. People who are residing outside India but supply goods or ser...

What Are the Compliance Required for OPC Private Limited Company One Person Company is a new concept in the business world which has seen a boom since its implementation. This allows entrepreneurs to take risks with less liability and provide protection against the same. As one person company is a legal entity it requires annual compliance filing to comply with the statutory provisions. This article will discuss what are the compliance required for OPC Private Limited Company and how it differs from other kinds of companies. A One Person Company (OPC) is a private limited company where the liability of its sole member is limited to the amount invested in it. A single person can form the company by subscribing their name in the memorandum of association along with other requirements prescribed under the Companies Act. The memorandum must also mention the name of a nominee who will become the company's sole member in case the original member dies. Like other...

How to Register a Trading Company in India Trading is the process of buying and selling items or goods to make a profit. It's a diverse industry with many different types of businesses, including import and export, wholesaling, retailing, manufacturing, and even e-commerce.  However, starting a trading business is not as easy as it may seem, and there are a lot of things to keep in mind. This article will cover the steps needed to register a trading company in India and help you get started on the right foot.  Incorporating a Trading company provides you with various tax benefits and legal protections not available to sole proprietorships and partnerships.  If you decide to incorporate, it is important to ensure that all proposed directors have a Class II Digital Signature Certificate, as this is necessary for signing numerous company documents that are filed and registered with the Registrar of Companies . In addition, you must obtain a bank account in the name of...

What are the procedures for formation of LLP in India The Ministry of Corporate Affairs (MCA) vide its Notification dated 18th September, 2022 revamped the whole procedure for incorporation of an LLP. This process includes the introduction of a new web form called RUN-LLP which is similar to the RUN service already deployed for company registration and an application e-form named FiLLiP that is used for filing the LLP incorporation application. The first step under this new procedure is to apply for the reservation of a name by using the web portal LLP -RUN. One can apply for a maximum of six names at one go. The Ministry of Corporate Affairs checks these names and verifies that they are not identical or similar to an existing LLP or registered trademark. After the name is approved, the registrar reserves it for 90 days, within this time frame, an applicant can file the e-form FiLLiP for LLP incorporation. If the LLP registration form is not filed within this p...

Why is IT Filing Mandatory in India Income tax is collected by the government and used for various purposes like paying off salaries of central and state employees and funding infrastructure projects. Any individual or entity that earns more than the basic exemption limit is expected to pay taxes. To ensure that all taxes are paid, the IT department requires everyone to file their returns. Those who do not file their return are likely to face penalties and may even be sent notices. Income Tax filing returns online , known as e-filing, has become more popular in recent times. This process allows individuals to submit their income tax return from any location. You can use any pre-approved e-filing software to help you prepare your return and get the job done in no time at all. E-filing is mandatory for those with taxable income of Rs 1 crore or more, as well as for professionals with a turnover of Rs 25 lakh or more. However, it is optional for those with income bel...

How to Incorporate a New Limited Liability Partnership Registration India Incorporating an LLP can be a little confusing for those who are not familiar with the legal requirements in order to form an LLP. However, a lawyer can provide help to guide you through the process. They can assist with drafting the necessary documents, filing them with the correct authorities, and also help you to complete the required annual compliances. Before you start the process of registering an LLP , you must first decide what type of business you want to have. There are a number of options available for businesses, including sole proprietorships and corporations. Each has its own advantages and disadvantages, so make sure to research the available options before making a decision. Once you have decided what type of business you would like to register, the next step is to choose a name. It is important that you choose a name that is distinct from any other businesses already reg...

What Are the Documents Required for Company Registration in India Registering a business is an important step to build credibility and protect it under the law. The process is fairly straightforward and involves preparing and filing various documents with the Registrar of Companies (ROC). The first step in company registration is selecting the right type of business entity. There are several structures to choose from including Partnership Firm, Sole Proprietorship, Limited Liability Partnership (LLP), Private Limited Company, Public Limited Company, One Person Company (OPC) and Non Banking Finance Company (NBFC). Each structure has its own set of advantages and disadvantages. The choice of structure depends on various factors like owner liability, taxation, investment and funding, compliance burden and business expansion potential. During the process of registering a business, it is crucial to ensure that all the documents submitted are authentic. To this end, the ...

How to Register Private Limited Company Online in India Choosing the right business structure is vital when starting a new business. A registered company has distinct advantages over other types of businesses, including the ability to raise funds and the protections that its legal status provides for its shareholders. However, many entrepreneurs are unaware of the benefits of a private limited company and how to register it. Private limited companies have the option of raising equity capital from investors through the issue of shares. This can help your business grow at a rapid pace. It also enables you to separate your personal assets from the liabilities of the company. In addition, a private limited company is required to pay annual corporation tax. This allows you to take advantage of the lower tax rates that are available to small and medium-sized enterprises. There are a number of documents that are needed to register a private limited company. You can f...

How to Register Annual Filing in India If you are running an incorporated company, regardless of its type – whether it is a private limited company or a one-person company or a section 8 company – then you are required to host an annual general meeting (AGM) and file financials and an annual return with the Ministry of Corporate Affairs or ROC. These e-form filings must be completed before the deadlines set by the Ministry to avoid late filing fees and penalties. The first step is to ensure that you have the right forms and documents to file your ROC annual returns and financials. This will include a certificate of incorporation, financial statements such as the balance sheet and profit and loss account, directors report, and other related documents. You will also need to have a digital signature certificate (DSC) so that you can sign the forms and documents electronically. You will then need to submit the e-forms and supporting documents via the MCA21 portal. ...