Company registration in india LLP vs PVT vs partnership firm vs solo proprietary

 

Note: Every Firm Type of Company needs to File ITR on TDS.

Solo ProprietaryShip: A single person can maintain this. ex; cab services like OLA partners have to register a solo proprietary ship Firm in order to get TDS Refund from Income tax India. otherwise without PAN Ola Deduct 20% along with 20% commission.

Documents:

  • PAN card
  • Address & ID proof
  • Bank account canceled cheque

 

Tax Slab rates: 30% and cess but solo proprietary ship firm taxes as an individual when he crossed 1.8L slab rate he can pay the TAX.

 

Partnership Firm: same as solo proprietorship but here minimum two people required.

PVT Limited Company: 5-50 employees & two board directors compulsory.

Registration checklist: Two pan Numbers of Directors and Address of office. (you can register Home address as office).

After that, You have to Apply PAN and TAN Company transactions. Every Year we have to submit Profit loss details to Registrar of companies.

Documents of directors:

  1. PAN
  2. Address proof
  3. Id proof
  4. Pass photo
  5. DSC Digital signature certificate ( A USB drive that certifies  shareholder identity to sign in MCA portal tax forms )from mca.gov.in

Office requirements:

  1. Rent or lease Agreement Notary
  2. NOC from the owner on the name of the director.notary
  3. Latest electricity bills
  4. Property proof (house tax registry proof) Notary

 

LLP Limited Liability Partnership: Same as PVT Limited But here partners (minimum 2 )are required, but minimum Working Capital is 1,00,000 INR mandatory. An auditor is mandatory when it reaches 40 lakhs turnover. we can convert it to PVT limited.(but as per latest act we cannot do this but we can convert PVT Public companies to LLP).

DPIN is Designated Partner Identification Number Similar to DIN Director identifcation number.

Documents: Same as PVT Limited.

OPC One Person Company: Same as PVT Limited but one person handles instead of 2-5 board directors. we can convert it later as PVT limited company or Public limited company if turnover reaches 1 crore. Appointing Auditor is mandatory.

 

Audit: All types companies have to get audited every year. but Solopropietary firm needs audit when it reaches maximum turnover threshold according to section 44Ab in companies Act 1956.

 

Solo proprietary vs One person company

  1. in SP person and business is same more tax benefits and unlimited liabilities easy to establish than OPC.
  2. In SP Proprietary personal assets are not safe if losses in business. Service tax registration is mandatory usually, it takes 15 days.

How to register a  company Online India?

  1. Go to Minister of corporate affairs website, which is http://www.mca.gov.in,
  2. Click On Company registration and Follow the guidelines. (i will update soon),
  3. Otherwise just contact any CA or tax consultant and Finish the deal.

Later You can change the company name / Transfer company and other etc.

Service tax registration in India:

it necessary when your business reaches 9 lakhs for a year. but service tax registration is necessary to open a current account & available for loans.

 

MOA and AOA

Memorandum of articles is Charter which contains 6 clauses which indicate characters, powers, limits and constraints of the company.

Articles of Association provides regulations. not Compulsory at the time of incorporation.

 

Forms Explanation:

INC-1 Apply for company Name: Once it Approves after few days you can fill other forms like INC 7 or INC2.

INC 2: Incorporation of a company For OPC One person company,

INC 7- Incorporation of a company Other than OPC (PVT limited, LLP and other etc..)

INC 22: Change of Registered office Address filed withing 30 days only.

INC-29- Integrated Incorporation Form

DIR-12: Details of directors and managerial team (changes accept here)

DIR 3 Application for Director Identification Number (DIR)

DIR 6: Correction of director details.

INC 12: Section 8 Company

URC 1: part 1 Company

FC 1: Fcompanycompnay registration in India.

 

What IS TAN?

TAX deduction & collection at source number. required to deduct TDS (Tax deduction at source) and TCS (tax collection at source) by the rule of government.

Generally, Companies can deduct TDS Service tax from employees and other business transactions.

PVT Limited Company Name suggestion guideline my experience

Proposed name
Significance of key or coined word in the

State the name of the vernacular
language(s) if used in the proposed name
GREEN WEB SOLUTIONS PRIVATE LIMITED
NONE
I.
Proposed name
Significance of key or coined word in the
proposed name
State the name of the vernacular
language(s) if used in the proposed name
KAKATIYA TECHNOLOGIES PRIVATE LIMITED
NONE
II.
Proposed name
Significance of key or coined word in the
proposed name
State the name of the vernacular
language(s) if used in the proposed name
GN TECHNOLOGIES PRIVATE LIMITED
NONE
III.
11. Whether the proposed name is in resemblance with any class of Trade Marks Rules, 2002

1.GULSI INFOTECH PRIVATE LIMITED
2. GULSI WEB SERVICES PRIVATE LIMITED
3. GN BROS WEB SOLUTIONS PRIVATE LIMITED
4. GN BROS PRIVATE LIMITED.

GREEN WEB SOLUTIONS PRIVATE LIMITED

GN TECHNOLOGIES PRIVATE LIMITED

KAKATIYA TECHNOLOGIES PRIVATE LIMITED

The Proposed names are nearly resembling with GUGLEX WEB SERVICES PRIVATE LIMITED, GUILD INFOTECH PRIVATE LIMITED,
GNS WEB SERVICES PRIVATE LIMITED, G N BROS SAREES PRIVATE LIMITED and many other companies. Hence, not considerable

Swastika software solutions Pvt limited

Registered companies

Swastika Pvt limited

company search

http://www.mca.gov.in/mcafoportal/viewCompanyMasterData.do

when i searched for “alpha” there are 200 companies with that name.

ALPHA COAL INDIA PRIVATE LIMITED U74999DL2011FTC217767
ALPHA BIZNEERS CORPORATE CONSULTANTS PRIVATE LIMITED U74999DL2015PTC284255
ALPHA ACE STORE CARE PRIVATE LIMITED U74999KA2011PTC060146
ALPHA AND OMEGA GIFTS PRIVATE LIMITED U74999KA2012PTC062246
ALPHA CALIBRATION LABORATORY AND TECHNICAL SERVICES PRIVATE LIMITED U74999MH2002PTC135404
ALPHA DREDGING SERVICES PRIVATE LIMITED U74999TN2011PTC079219
ALPHA CONSULTING GROUP PRIVATE LIMITED U74999TN2012PTC084586
ALPHA ABROAD CONSULTANCY PRIVATE LIMITED U74999UR2017PTC007649
ALPHA AUTO PARTS SUPPLIERS PRIVATE LIMITED U74999WB2010PTC154316
ALPHA 2 OMEGA EDUCATION TECHNOLOGIES PRIVATE LIMITED U80211AP2003PTC040361

when I searched alpha software, there are two companies

ALPHA SOFTWARE INDIA PRIVATE LIMITED U72200PN2000PTC014626
ALPHA SOFTWARE SERVICES PRIVATE LIMITED

 

3rd one I am going propose alpha software solutions PVT limited.

only change word solutions as of above India & services.

Keyword Gensoft

GENSOFT DEVELOPMENT SOLUTIONS PRIVATE LIMITED
GENSOFT DIGITAL SOLUTIONS PRIVATE LIMITED
GENSOFT INFOTECH PRIVATE LIMITED
GENSOFT SOLUTIONS LIMITED
GENSOFT TECHNOLOGIES PRIVATE LIMITED.
GENSOFT TECHNOPLUS PRIVATE LIMITED
GENSOFTS INFOSOLUTIONS PRIVATE LIMITED

7 companies there

I am going prose gensoft India Pvt limited, gensoft

for nxt entry 51 companies there, but nxt software no registered companies

nxt software solutions Pvt limited

Next infotech Pvt limited

 

My next proposed names are

  1. web development India PVT limited
  2. Next infotech Pvt limited
  3. nxt software solutions Pvt limited
  4. gensoft India Pvt limited
  5. alpha software solutions PVT limited