Business Startup, Startup Consultant

Trade license and its renewal Trade License registration is very crucial document to start any business in any particular area. In other words, it’s kind of permission or certificate of commencement in particular municipal limit. Further it allows the business which has the license not other than that is not eligible business. Trade license are regulated by the state governments through municipal corporation acts. This is helping with regards to health and noise safety of the area and affirmation of no illegal and unethical practice is going on the area. This will synchronize every business is following relevant rules, guidelines and obeying the safety measures. License issuing authority Municipal Corporation is providing license in various area of business like industries, engineering, health etc. Every state municipal has their own procedure to provide license according to rules and regulations. Procedure for trade license registration application To apply for t...

Compliance with rules and regulations forms a very important aspect of functioning for any company. Being compliant builds investor confidence as well as creates a positive image for the customers. At the same time, it keeps the directors and the company away from controversies, notices, penalties and what not. ROC compliance elaborated as a Registrar of Company’s compliance is an integral part of the overall compliance for a company. Availing specialized annual ROC compliance services can help address the following compliance mandates- ·          Director’s compliance Under the rules and regulations, the directors have several disclosure requirements from time to time with respect to their interest in other companies/partnerships. The directors might have to compile some reports regarding the annual general meetings, decision making, etc. These reports or disclosure forms have a rigid timeline and might have severe consequences dur...

GST is one of the compliance requirements that are common for most of the business entity setups. From sole proprietorship to complex company structures, most of the business entities engaging in regular business transactions would be on the radar for GST compliance. What are some of the compliances under GST ? Let’s find out- ·            Filing of returns GST returns unlike many other annual compliance requirements need to be filed every month. This makes compliance tough initially but easy with time. Making accounts and transactions in line with GST regulations will reduce a considerable amount of work to file the GST returns every month. The problem arises with incorrect bookkeeping practices and similar inconsistent practices that may help internally for the business, but are not valid or recognized under the eyes of law/government. GST compliance requires the filing of monthly, quarterly, half-yearly as well as yearly returns app...

A private limited company is a company that is closely held by a few individuals with limited liability for the losses the business might incur in the future. Unlike the public limited company, the shareholders or investors could be restricted to 100 persons. A private limited company in the eyes of law is a separate legal entity, which gives it an edge over partnerships and various other business setup options where a separate legal entity might not exist. The partners or investors in this type of arrangement can be selected and is an excellent choice for startups looking for limited investment without compromising ownership. A private limited company may hire a maximum of 50 employees only. Initial private limited company compliances During the initial year of doing business, private limited companies face some once for all compliances. These can be listed as follows- ·          Appointment of an auditor All companies re...

One person company functions on the principles of a company but is generally managed by one primary person. It has to be registered under the Companies Act of 2013. The member of such a company is one person, however, it can have multiple investors, shareholders, creditors or employees. Some of the benefits as well as features of OPC can be listed as follows- ·          Ease of incorporation The OPC can be incorporated by any person born in India, who is not regarded as foreign. Such a person will need approvals from the Registrar of Companies with respect to naming and other formalities. Following which, registration fees have to paid, e-forms to be uploaded, and the incorporation certificate is received. ·          Ease of compliance Annual Compliance for OPC is similar to a company, however, it is slightly simpler. The packages for one person compliance are about 1/3 rd times cheaper than ...

Limited Liability Partnership is one of the most popular and beneficial ways of setting up a business. With benefits like limited liability, unlimited partners, a combination of benefits from a corporation and a partnership, etc., it becomes one of the most widely formed business entities across India. However, what are the compliance requirement, what ideal annual compliance for Limited Liability Partnership package should contain, is it complicated? A ll these questions shall be addressed by learning more about the compliance requirements of an LLP company. ·          LLPRegistration The LLP has to be registered with the Registrar of Companies as well as the Ministry of Corporate Affairs. ·          Filing of Form 11 Form 11 is the annual return for an LLP and includes details about any restructuring that took place during the financial year. It also consists of details with respect to cha...