A Business Organization can be a:
Sole Proprietorship form of Business
Registration Procedure of a Private Limited Company
Returns to be Filed by a Private Limited Company
Registration Procedure of a Public Limited Company
Returns to be Filed by a Public Limited Company
Sole Proprietorship form of Business
A Sole Proprietorship form of business can be established by a single person with minimum amount of capital. In this form of business complete control of the business, profit/loss and complete business risk will be with the sole proprietor only. This type of entity is useful for small businesses. In this form of business the individual and his firm are considered as single entity for taxation purpose.
A Partnership form of business can be established by two or more persons by creating partnership deed.
Registration of Partnership Deed
In India, it is not compulsory to Register a Partnership deed. But an un registered partnership have some disadvantages in the eye of law. So it is better to register the deed with the Registrar. The Registrar of Partnership will issue a certificate of Registration to the applicant. Any modification in the partnership deed, whether it is retirement of partner, appointment of partner, death or any amendment should be informed to the Registrar of Partnership.
A Registered partnership firm has all the right to sue in a court of law in India. But in other countries there may be differences in rule.
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Limited Liability Partnership (LLP)
LLP is a corporate business form that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership.
An LLP can be registered with the Registrar of Companies.
Registration Procedure
Designated Partner Identification Number (DPIN)
The persons interested to form a Limited Liability Partnership should apply for Designated Partner Identification Number (DPIN) from the Registrar of Companies. The DPIN application can be processed with the help of a Practicing Practicing Company Secretary or A Chartered Accountant.
Application for Allotment of Name
After approval of Designated Partner Identification (DPIN) by the Registrar of Companies, the application for availability of name can be filed. If the name choice is available the Registrar of Companies will give approval for the name.
Registration of Limited Liability Partnership
After approval of name by the Registrar, the application for Registration of Company can be filed with copy of Partnership Deed and other required forms and information. All these documents can be filed online with requisite fee.
If found satisfied the Registrar of Companies will give Certificate of Registration.
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In India, it is compulsory to Register a Private Limited Company under the Indian Companies Act 1956. It can be registered by minimum of 2 members and maximum of 50 members. The services of a Practicing Company Secretary, Advocate or A Chartered Accountant can be availed to register the company. The object of the company should be clear before going for registration.
Registration Procedure of a Private Limited Company
Director Identification Number (DIN)
The persons interested to form a Private Limited Company should apply for Director Identification Number (DIN) from the Registrar of Companies. The DIN application can be processed with the help of a Practicing Practicing Company Secretary or A Chartered Accountant.
Application for Allotment of Name
After approval of Director Identification (DIN) by the Registrar of Companies, the application for availability of name can be filed in Form No. 1A. If the name choice is available the Registrar of Companies will give approval for the name.
Registration of Company
After approval of name by the Registrar, the application for Registration of Company can be filed in Form No. 1 along with copy of Memorandum of Association of the Company, Articles of Association of the Company, Form No. 32 for appointment of Directors, Form No. 18 for Registered office and other required forms and information. All these documents can be filed online with requisite fee.
If found satisfied the Registrar of Companies will give Certificate of Incorporation to the Company.
Various Returns and Forms to be filed by Pvt Ltd Company
The Private Limited Companies are required to file various forms and returns with the Registrar of Companies from time to time.
Tax Returns to Income Tax Authorities
Returns to Registrar of Companies
Annual Return of Company
Balance Sheet
Profit and Loss Account
Change in Directors
Change of Registered Office
Registration of Charge
Compliance Certificate - If the paid up Share Capital of the Company Exceeds Rs. 10 lacs.
Any other form as per the statutory requirement of Indian Companies Act 1956.
If you want to avail our expert service to register a Private Limited company please write to us: contact@businessboss.com
Public Limited Company
A Public Limited Company can be registered by minimum of 7 person and there is no maximum limit of members. There are many advantages of registering a Limited company. A Limited company can be registered with Limited liability, which will protect the personal asset of the members in case of failure of business. The services of a Practicing Company Secretary, Advocate or A Chartered Accountant can be availed to register the company. The object of the company should be clear before going for registration.
Registration Procedure of a Public Limited Company
Director Identification Number (DIN)
The persons interested to form a Private Limited Company should apply for Director Identification Number (DIN) from the Registrar of Companies. The DIN application can be processed with the help of a Practicing Practicing Company Secretary or A Chartered Accountant.
Application for Allotment of Name
After approval of Director Identification (DIN) by the Registrar of Companies, the application for availability of name can be filed in Form No. 1A. If the name choice is available the Registrar of Companies will give approval for the name.
Registration of Company
After approval of name by the Registrar, the application for Registration of Company can be filed in Form No. 1 along with copy of Memorandum of Association of the Company, Articles of Association of the Company, Form No. 32 for appointment of Directors, Form No. 18 for Registered office and other required forms and information. All these documents can be filed online with requisite fee.
If found satisfied the Registrar of Companies will give Certificate of Incorporation and Certificate of Commencement to the Company. The Company cannot start business without certificate of Commencement of Business, even if it is registered with the Registrar of Companies.
Various Returns and Forms to be filed by a Public Limited Company
The Private Limited Companies are required to file various forms and returns with the Registrar of Companies from time to time.
Tax Returns
Returns to SEBI and other authorities in case of Listed Companies
To Registrar of Companies
Statutory Report of Statutory Meeting
Annual Return
Balance Sheet
Profit and Loss Account
Change in Directors
Change of Registered Office
Registration of Charge
Compliance Certificate - If the paid up Share Capital of the Company Exceeds Rs. 10 lacs.
Any other form as per the statutory requirement of Indian Companies Act 1956.
If you want to avail our expert service to register a Public Limited company please write to us: contact@businesswonder.com