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Showing posts from November, 2021

How to Change Company’s Registered Office

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A registered office of a company is a location where all the Legal and government communication related to business is held. It acts as the official address of the company recorded with the Registrar of Companies (RoC), India, where all communications are sent. While going for company registration , it is mandatory to declare the registered office of the company and to submit the relevant documents as proof. However, the Companies Act, 2013 also provides the option for the company to declare a temporary address in case the company has not decided on the registered office while filing for offline or online company registration . The company may also have a corporate office, sub-branch, factory site, or administrative office in addition to a registered office. However, the registered office of a company in India must be registered with the Ministry of Corporate Affairs (MCA), the other branches and offices can be opened by a company itself without any prior communication with the RoC. Ty...

Conversion of Sole Proprietorship to Pvt. Ltd and its Governing Rules

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A private limited company and Sole Proprietorship are two different business structures & also are different in terms of their working. Sole Proprietorship registration is a popular type of enrollment of unregistered business institutions owned, managed, and operated by a single person.  The sole proprietorship is the “One Man Business Entity”. All the investments for the business with sole proprietorship registration are done by the single proprietor who bears all the losses and enjoys all the profits. The overall control of the business, as well as its management, is in his hands. He can appoint individuals for conducting the business, but the ownership will rest solely with him. This type of business is easy to start but can also hamper your growth with time. After all, it’s difficult to build a big business as a single person. Also, a sole proprietorship registration cannot get all benefits of operation as it grows. So, a need to convert the proprietorship into a p...

Conversion of Sole Proprietorship to OPC and its Governing Rules

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One Person Company and Sole Proprietorship are two different business structures & also are different in terms of their working but sometimes people get confused between them due to their similar sounding words. Sole Proprietorship registration is a popular type of enrollment of unregistered business institution owned, managed, and operated by a single person.  Sole proprietorship is the “One Man Business Entity”. All the investments for the business with sole proprietorship registration is done by the single proprietor who bears all the losses and enjoys all the profits. The overall control of the business as well as its management is in his hands. He can appoint individuals for conducting the business, but the ownership will rest solely with him. Whereas one the other hand, One person company registration is an improved and better form of a sole proprietorship registration . One person companies are a great business organization structure for medium-sized businesses. The ...

Conversion of Sole Proprietorship to Partnership and its Governing Rules

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Partnership Firm and Sole Proprietorship are two different business structures & also are different in terms of their working. Sole Proprietorship registration   is a popular type of enrollment of unregistered business institutions owned, managed, and operated by a single person.  The sole proprietorship is the “ One Man Business Entity ”. All the investments for the Sole Proprietorship business are done by the single proprietor who bears all the losses and enjoys all the profits. The overall control of the business, as well as its management, is in his hands. He can appoint individuals for conducting the business, but the ownership will rest solely with him. A Sole Proprietorship is easy to start but can also hamper your growth with time. After all, it’s difficult to build a big business as a single person. If one is looking to add partners to their business without any hassle or hindrance, then it is recommended to switch to a partnership from sole proprietorship registr...

Documents Required for registering a Pvt Ltd Company in India

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Company Registration  is the overriding and most important step for any business organization. To protect your business and secure its rights,  company registration  is very essential. It shields the business from personal liability and protects from other risks and losses and at the same time provides more customer attraction, promotes greater capital contribution and greater stability and increases the company’s perspective to expand and grow. It is very crucial to choose your business structure carefully as the Income Tax Returns will totally depend on it. Thus, before going for  Online company registration , you should have clarity on the kind of business you are into, your goals and objectives since each of these types come with their own legal implications. While registering your enterprise, remember that there are various forms of businesses available that one can register with and each business structure has different levels of compliances that need to be met...

Applicability of GSTR 9 On Various Turnover Slabs

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GSTR-9 is an annual return that is to be filed annually by GST registered taxpayers. It is a compilation return that includes all business transactions done for the particular financial year and all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year. The main sources of populating GSTR-9 are the GST return filing of, GSTR-1 and GSTR-3B. The form contains a total of 6 parts spread out within 19 tables. Each part asks for details that are easily available from your previously filed return and books of account. ( Note : The government had made the filing of GSTR-9 /9A optional for the financial year 2017-18 and 2018-19 as small taxpayers were facing difficulties from the implementation of GST. Further, in the 43rd GST Council Meeting, dated May 28, 2021, the council decided to amend Section 35 and Section 44 of the CGST Act as per Finance Act, 2021 and the changes will be applicable for the Financial Year 2020-2021. It was also decided that in view of the pandemi...

Various Forms Applicable on a Company Every Year

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The Companies Act, 2013 read with relevant rules governs various provisions which a company is required to comply with, and regular and timely RoC filing is a must for smooth maintenance of annual compliance which will keep your organisation away from any legal complications or any unusual consequences. Under this act, numerous forms are prescribed which must be filed by the company with the Registrar of Companies. Some of these forms are to be filed annually by the company, some of them are filed only once after the incorporation of the company while some forms are filed at the happening of an event, such as the auditor’s resignation, change in the name or address of the company, etc. If these events do not take place, then there is no requirement for filing these forms. In this article, we’ll talk about various RoC filing forms applicable to companies every year. Omitting to file any mandatory compliance will lead to a levy of heavy penalty/fees on the company as well as officers in ...

Documents required for registering an LLP in India

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Company Registration  is a primary step for any business organization. To protect your business and secure its rights,   company registration  is very essential. There are various forms of businesses available that one can register with both as a simple owner or a partnership. When we come to the domain of partnership’s  company registration , LLP due to its various advantages and flexible operations has gained more popularity in recent years over the ordinary partnership company registration. Limited Liability Partnership or simply LLP is an alternative business form that provides limited liability to the owners and is comparatively easy to manage and hassle-free. It is allowed under the Limited Liability Partnership Act, 2008. LLP is a unique hybrid combination of a limited and partnership company which provides the advantages of the Company and flexibility of a Partnership firm. The rights and duties of designated partners are governed by the LLP agreement. If you...