Private Ltd, LLP or Public Ltd, which to choose when going for New company registration in India

Fortunately, the new rules and regulations are easier when it comes to start-up a new business in India. Also, there are hassle free new company registration service providers available in India who take care of A to Z of forming and registration of the company. In this post, we will touch upon various forms of new company registration In delhi presently available and which is best suited for your business.

To start with, below mentioned is explanation for new company registration in gurgaon that are done in India:

Sole Proprietorship: The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.

When to incorporate: However, after the introduction of the concept of One Person Company. It is not recommended to form a proprietorship in India.

Limited Liability Partnership: Partnerships when given the feature of limited liability, the LIMITED LIABILITY PARTNERSHIPS came into picture. LLP is a separate legal entity and which can be formed in India by minimum of two persons with a motive of earning profit.

When to incorporate: LLP enjoys the benefits of private limited company and traditional partnerships, therefore, because of increasing compliance in private limited company, it is recommended for start-ups to incorporate LLP if they are not planning to raise investments in future.

Partnership: A business organization in which two or more individuals manage and operate the business. Both owners are equally and personally liable for the debts from the business. Partnerships are easy to form. There is no minimum capital requirement. Only two people are needed to incorporate the partnership.

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Trademark Filing – Process & Documents Required

When an outsider looks for startup business, the first thing they notice is the trademark. A trademark is  the identity of a business lies. It is the name and symbol under which a business undertakes its trade and commerce, which represents the company.

In India, trademarks are regulated by the Trade Marks Act of 1999. The Act aims to provide registration and better protection towards trademarks while preventing the use of fraudulent marks.

How to Choose a “Good” Trademark?

• The mark(s) should be easy to remember.
• It should be short and easy to spell and write.
• It may be aesthetically appealing.
• It should not ideally be descriptive in its nature.
• It can be fanciful and coined, to avoid confusion.

“APPLE/ASUS/DELL/HP/LENOVO” for computers are an example of a non-descriptive and arbitrary mark, which makes for good trademarks.

“KODAK” for cameras is a coined term; that also makes a good trademark.

“MICROSOFT” for software, “LAKME/AMWAY/AVON” for makeup, are all good examples.

Trademark Search

Before filing a trademark application, its recommended that a trademark search be conducted to know all similar or identical trademark applications filed along with its status. A trademark search can help reduce chances of the application being objected or opposed or refused.

Documents required for Trademark filing

To file a trademark application the following documents are required:

• Signed Form 48 – Form 48 is used to provide an attorney with authorisation to file your trademark application.
• Udyog Aadhar Registration Certificate – In case you would like to avail the lower trademark fee of Rs.4500. For Partnership Firms, LLPs and companies not having Udyog Aadhar, the government fee for trademark filing is Rs.9500.
• Incorporation certificate.

How to apply for a Trademark?

• Conduct a trademark search that will let you know if there are similar trademarks that are already registered.
• Apply for a trademark registration. You can do this by yourself through the Government website, or get a lawyer to do it for you. The procedure of application is laid down in the Trade Marks Act, 1999.
• An application number is allotted for every pending registration, which can be tracked on the website.
• If the application is accepted, it will be published in the Trademark Journal. If there are no oppositions, your trademark will be registered to you. However, if there are oppositions, there will be a hearing in the Trademark Hearing Office to decide on the final registration of the mark.

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Incorporating a private limited company with Indian directors

Incorporating a company in India has become much easier now. On the 69^th republic day, the government has brought various changes making it easier to set up a private limited company in India. Now a company can be incorporated using just 1 E-Form, SPICe (INC-32).
A single window form: SPICe (INC-32)
It is a single application for

• reservation of name,
• incorporation of a new company and/or
• application for allotment of DIN and/or
• application for PAN and TAN

It is accompanied by supporting forms SPICe_AoA and SPICe_MoA.
Once the e-Form is processed and found complete, company would be registered and CIN would be allocated. DINs get issued to the proposed Directors who do not have a valid DIN and PAN and TAN would also get issued to the Company.

Important points:

• Maximum three Directors are allowed for using this integrated form for filing application of allotment of DIN while incorporating a company.
• No minimum paid-up capital requirements apply for incorporating a company
• Maximum number of members excluding proposed employee(s) should not be greater than 200 in case of a private company.
• Number of members excluding proposed employee(s) should be greater than or equal to two in case of Private Company (other than Part I company) and seven in case of Part I company/ public company.
• The company can establish its place of registered office on or from the fifteenth day of its incorporation. Till then the correspondence address shall be the mailing address for company.
• The correspondence address should be in the same state where company is willing to have its registered office.
• Total number of first subscribers are restricted to seven, considering possibility of affixing maximum DSCs in form SPICe MOA (INC-33) and form SPICe AOA (INC-34).
• Directors not having DIN cannot be more than 3 in number.

Name approval
There are 2 ways to register a company’s name

1. Directly getting the name approved through SPICe (INC-32)
2. Reserve Unique Name (RUN)

A unique name should be chosen for the company considering Section 4(4) of the Companies Act, 2013 and Rule 8 & 9 of Companies (Incorporation) Rules, 2014
The illustrative list of names based on the type of company is as follows:
In case of an one person company – ABC (OPC) Private Limited
In case of a private limited company (other than producer company) – ABC Private Limited
In case of a private limited company (Producer company) – ABC Producer Company Limited
In case of a public limited company – ABC Limited
In case of an unlimited liability private company – ABC Private Unlimited
In case of an unlimited liability pubic company – ABC Unlimited
If the proposed name is based on a registered trademark or is subject matter of an application pending for registration under the Trade Marks Act, then approval shall be attached of such owner of the registered trademark or the applicant of such trade mark for which application for registration is pending.
A name reserved by RUN remains reserved for 20 days from the date of approval.

TAN Number:
Under the new SPICe form, TAN would be allocated along with the PAN. Allocating TAN with PAN would reduce another compliance related registration a company has to obtain at a later date and ensure that all companies are ready to deduct & remit tax collected at source from day one.

Conclusion:
SPICe Form INC-32 is surely an improvised version of e-Form-29 wherein a lot of changes have been made to accommodate the interest of the stakeholders. By introducing a single window form, there has been a drastic reduction in the timelines. However, due to some limitations, it might not be feasible like limited number of subscribers, affixing of DSC of subscribers.
With the hope that the regulators might address the inherent limitations that are being observed in the current procedure and make the necessary changes, we can conclude that stakeholders will be more benefited in all perspective.
AJSH has an expertise company registration and incorporation and has been assisting clients for 10 years.


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Business Tax Return Filing

All businesses operating in India are required to file income tax return each year. In addition to filing income tax return, a business may also be required to file TDS return and pay advance tax to stay compliant under the Income Tax Act. We can help file income tax return for your business and ensure it remains compliant under the Income Tax Act and Rules. The average time taken to file an income tax return for your business is 3 to 5 working days. Get a free consultation on business tax return filing by scheduling an appointment with an New Company Registration Advisor.

If you’ve always worked as an employee and had a relatively uncomplicated income tax return, you may wonder how much that will change now that you have a small business. It’s true you’ll have more record-keeping and responsibilities than you did when your employer sent you a Form W-2 at the end of the year.

However, being a business owner has its perks, too. You control how much time and effort you want to put into the business, and you alone reap the rewards. You can also plan for taxes and take business deductions to lower your tax bill.

• Business Tax Filing Service Includes
• GST Return Filing
• Income Tax Return Filing
• TDS Return Filing

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Incorporating a private limited company with Indian directors

Incorporating a company in India has become much easier now. On the 69th republic day, the government has brought various changes making it easier to set up a private limited company in India. Now a company can be incorporated using just 1 E-Form, SPICe (INC-32).

A single window form: SPICe (INC-32)

It is a single application for

reservation of name,
incorporation of a new company and/or
application for allotment of DIN and/or
application for PAN and TAN
It is accompanied by supporting forms SPICe_AoA and SPICe_MoA.

Once the e-Form is processed and found complete, company would be registered and CIN would be allocated. DINs get issued to the proposed Directors who do not have a valid DIN and PAN and TAN would also get issued to the Company.

Important points:

Maximum three Directors are allowed for using this integrated form for filing application of allotment of DIN while incorporating a company.
No minimum paid-up capital requirements apply for incorporating a company
Maximum number of members excluding proposed employee(s) should not be greater than 200 in case of a private company.
Number of members excluding proposed employee(s) should be greater than or equal to two in case of Private Company (other than Part I company) and seven in case of Part I company/ public company.
The company can establish its place of registered office on or from the fifteenth day of its incorporation. Till then the correspondence address shall be the mailing address for company.
The correspondence address should be in the same state where company is willing to have its registered office.
Total number of first subscribers are restricted to seven, considering possibility of affixing maximum DSCs in form SPICe MOA (INC-33) and form SPICe AOA (INC-34).
Directors not having DIN cannot be more than 3 in number.
Name approval

There are 2 ways to register a company’s name

Directly getting the name approved through SPICe (INC-32)
Reserve Unique Name (RUN)
A unique name should be chosen for the company considering Section 4(4) of the Companies Act, 2013 and Rule 8 & 9 of Companies (Incorporation) Rules, 2014

The illustrative list of names based on the type of company is as follows:

In case of an one person company – ABC (OPC) Private Limited

In case of a private limited company (other than producer company) – ABC Private Limited

In case of a private limited company (Producer company) – ABC Producer Company Limited

In case of a public limited company – ABC Limited

In case of an unlimited liability private company – ABC Private Unlimited


In case of an unlimited liability pubic company – ABC Unlimited

If the proposed name is based on a registered trademark or is subject matter of an application pending for registration under the Trade Marks Act, then approval shall be attached of such owner of the registered trademark or the applicant of such trade mark for which application for registration is pending.

A name reserved by RUN remains reserved for 20 days from the date of approval.

TAN Number:

Under the new SPICe form, TAN would be allocated along with the PAN. Allocating TAN with PAN would reduce another compliance related registration a company has to obtain at a later date and ensure that all companies are ready to deduct & remit tax collected at source from day one.

Conclusion:

SPICe Form INC-32 is surely an improvised version of e-Form-29 wherein a lot of changes have been made to accommodate the interest of the stakeholders. By introducing a single window form, there has been a drastic reduction in the timelines. However, due to some limitations, it might not be feasible like limited number of subscribers, affixing of DSC of subscribers.

With the hope that the regulators might address the inherent limitations that are being observed in the current procedure and make the necessary changes, we can conclude that stakeholders will be more benefited in all perspective.

AJSH has an expertise company registration and incorporation and has been assisting clients for 10 years.

If you have any query regarding this CLICK HERE

Things you should Know before registering a Company in India

Starting your own limited company is both exciting and daunting. You need to consider many things before you even think about company formation. Below is the hings you ought to consider.

Before registering as a company
Find out more about setting up and running a company, before you decide to register as a company. A company has different legal, financial and record keeping responsibilities compared to other business structures.
As setting up a business is an uphill task, one should follow the required process of company formation carefully. Most of the businessman starts doing business casually without giving importance to the company’s formal name and structure. It seems normal but surely it is a serious offense and cause hovac to your business idea and its future. Therefore, registering your company must be first and foremost thing to do. Whether it is partnership or a proprietorship firm, all the things should be mentioned carefully while going for the company registration in India. You should take help of tax consultant firm in Delhi to complete all the formalities efficiently. Companies should be started as per the laws as incorporated under the companies law.Other important things related to company formation are:

Director’s Identification Number (DIN)– It has same priority along with the company formation in India. When a company registered, director get DIN.
Second important thing is the company name. When the applications for the company name has been filed and submitted, Registrar of Company is responsible for the name and registration of the company. These are company registration services. The company then has to get the certificate of incorporation from them again.

You can only choose a company name not already registered to a company or business. Special approval is also required to use certain words in your company name.
It is necessary to note that all the registration process is done before the start of a company. It is mandatory for good health of company and it’s employees.
In order to complete all registration process, one should consult one of the company registration consultants in India that are well verse of all registration process and can lend you right assistance and help in this area.

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New Initiatives for making company incorporation process easier

Incorporation means to get file your esteem company under the registry of the govern bodies. It is not only necessary but mandatory for all types of companies ranging from small enterprises to big entrepreneur to compile their companies under the respective company act. Different acts have been confined and stated for varied companies in India including LLP or LLC, private or public companies have varied concepts of business incorporation. Here we bring you with company incorporation services for all available types of firms.

Business incorporation enables the company to boost its reputation and goodwill in the target market. One can easily apply for any of the legal benefits under the specific act. Besides these; business incorporation firms can easily find the varied alternatives for company funds or outside finance assistance. The same process will also support the company to get the level of authorative where the business can easily explore its potential ways.

Key takeaways from the initiatives taken by the MCA towards ease of doing business in India on the occasion of 69thRepublic Day.

1. No incorporation fee: Companies with authorized share capital up to Rs. 10 lakh can be incorporated in India with Zero registration Fee.
2. Introduction of ‘RUN’: New web service for reservation of name has been launched for name reservation called “Reserve Unique Name”. It is a one pager e-form into which one name of proposed company can be reserved without obtaining DIN and Digital Signature
3. Reduction of time limit for reservation of Name: MCA has reduced the time period from 60 days to 20 days for reservation of name
4. No resubmission for reservation of Name: It can be either rejected or approved in one go.
5. Simplified process for incorporation of company: by removing the requirement of affidavit with declaration from the proposed directors and promotors.
6. New process for obtaining DIN: The process of allotment of DIN has been re-designed by allotting it through the combined SPICe form only at the time of an individual’s appointment as Director.

E-commerce firms may get 6-month tax breather
The provision of tax collected at source (TCS) imposed on suppliers selling products on e-commerce websites like Flipkart and Amazon in the goods and services tax (GST) regime is likely to be deferred by six months. The recommendation by the law review committee may come as a breather for e-commerce players, which have been strongly opposing the additional levy. The TCS of 1 per cent to be charged collectively by the Centre and states was kept in abeyance till April 1, 2018, by the GST Council in October along with the reverse charge mechanism and the e-way bill. However, in light of revenue leakage concerns, the e-way bill to track the movement of inter-state supply of goods will be implemented from February 1, while reverse charge mechanism on composition dealers may be implemented any time now. “The provision pertaining to TDS and TCS can be kept in abeyance for at least six more months, is the view taken by the law committee,” said an official. A final decision on deferring the TCS further will be taken by the GST Council in its next meeting.

Single GST Registration for Airlines, Banks on the Anvil
The government is considering a nationwide single GST registration process for the aviation, banking and insurance sectors, people in the know of the matter said.
A single registration will potentially solve a majority of the compliance problems that services companies have been complaining about. They now have to register themselves and file GST returns in every state or union territory (UT) they operate in.
But the change will require the approval of the GST Council, the top decision-making body under the new tax system, where states are expected to oppose it fearing revenue loss as they have done when the proposal had come up before, tax experts said.
While goods-producing industries were used to making multiple state-wise returns for value-added tax under the previous regime, this is a new requirement for services companies, which complain it as a cumbersome process involving lot of paperwork and manpower.

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