Blog

Limited Liability Both LLP and a Private Limited Companies have limited liability. Liability of partners of an LLP is limited to the extent of the agreed capital contribution in the LLP. Similarly, Liability of shareholders of a private limited company is limited to the extent of shares held. For example, if Sam invested Rs 100,000 […]

Goods and Services Tax (GST) is an indirect tax reform which aims to remove tax barriers between states and create a single market. For that to happen the constitution first needs to be amended to remove different layers of governments’ exclusive powers to levy taxes. Once this step is taken, the tax barriers between states, […]

Every person who is liable to registered under GST Act shall apply for registration. The person will register in every such state in which he is so liable. The time limit to register is within thirty days from the date on which he becomes liable. The person can get voluntarily registration thought not liable to […]

What is OPC? One Person Company (OPC) a separate legal entity with just one member. Unlike a private limited company which requires minimum 2 shareholders and 2 directors, an OPC can be formed with only one shareholder (there is a nominee director, but with no power until the original director is incapable of entering into contract). OPC is […]

One Person Company (OPC) a separate legal entity with just one member. Unlike a private limited company which requires minimum 2 shareholders and 2 directors, an OPC can be formed with only one shareholder. OPC is registered under the Companies Act 2013 with the Ministry of Corporate Affairs. Do not get confused with a sole […]

GST is a destination based tax i.e. the tax should be received by the state in which the goods or services are consumed and not by the state in which such goods are manufactured. Here are some scenarios which will help your understanding about GST calculation and Payment. Scenario 1: Within the state A dealer […]

 The OPC must have only one member at any point of time and may have only one director  The OPC must have a nominee who must be an individual.  Minor shall not become member or nominee of the One Person Company  Both the member and nominee must be a natural person (Cannot be a company). […]

Limited Liability Partnership (LLP) is gaining popularity with its numerous benefits it gives to the entrepreneur. LLP is a business entity which combines the limited liability of a company and the flexibility of a partnership.There are multiple factors an entrepreneur should consider before choosing the type of business one plans to register. The size and […]

There are multiple factors an entrepreneur should consider before choosing the type of business one plans to register. The size and nature of business, fund raising, scale etc should be considered before choosing the type of business entity. Here are some of the reasons why you should register your business as a private limited company. […]

Listed below are some of the benefits of Limited Liability Partnership entities. However an entrepreneur should choose the entity based on his or her requirements and decide which suits them best in the long run. Minimum Capital To incorporate a private limited company, the shareholders need to invest a minimum of Rs 1 lac into […]

1) Minimum partners are required in an LLP, out of which at least one partners must be a resident Indian. Indian Resident means any person who has stayed in India for more than 182 days in the previous calendar year. 2) Foreign Investment should be allowed in that Industry 3) After the LLP is set up and bank […]

1) Minimum two shareholders are required to incorporate a Private Limited Company in India. The shareholders can either be an Foreign individual or a foreign company. 2) Minimum of two directors are required out of whom one should be a resident in India. Please note that the requirement is resident of India (Not Indian National), which means […]

Before starting a new business, an entrepreneur needs to have the knowledge on various aspects of business. One such segment is the law of the land. Multiple laws can be applicable for a business such as company’s law, shops and commercial establishment, professional tax, provident fund, Goods and Service tax (GST), customs Act etc. Not […]

Building a new business can be a fun and exciting time in your life. Before that, you should know about the main factors that should be considered while starting a new business which might help you in eliminating some risks and obstacles that you may face during the journey: Great innovative idea Two things can […]

Starting a new business to be an innovation and rich in enthusiasm but are failed when it comes to arranging of capital. Also, we believe that if companies fund runout, the company goes bankrupt and its game over. But that’s untrue at all; the fact is that start-ups don’t truly go bankrupt until their Founders […]

Selection of a business entity is among the primary lawful choice taken by an Entrepreneur while starting a new business. With the presentation of the Limited Liability Partnership Act and the Companies Act, 2013, more decisions of business entities are currently accessible. In this way, it is vital for the Entrepreneur or Promoter to comprehend […]

India has a large number of start-ups mushrooming enormously day by day and has the third largest number of start-up in the world. This will impact the socio-economics of the start up eco system thereby creating larger numbers of opportunities for new start-ups. Unfortunately, India has the second highest number of unregistered businesses. But registering […]