In case of Indian residents, Income tax’s Permanent Account Number or PAN details are a mandatory requirement for company incorporation. While applying for DIN in form DIR-3, you are required to provide your income tax’s permanent account number or PAN details and get it verified online. However, this field is not a mandatory field in … Read More » "Is PAN card a mandatory requirement for company registration in India"
Imagine for a moment that you have developed a new design and worked for years to make that design a popular brand and then someone has copied or steals your ideas to make it his own design. Protecting your design or business name through trademark registration should be the first step and is the best … Read More » "Why trademark registration is so important for your business"
If you have more than two persons to start an organization then you can select either of the two form of business i.e. partnership firm or private limited company. If you are alone and do not have any one to join in then go for sole proprietorship business which does not require any registration to start. … Read More » "Partnership firm or private limited company – which one is better to start with"
We have three main forms of business in India: proprietorship, Partnership and Company. A business which is owned, operated and managed by a single individual is called sole proprietorship business. Sole proprietorship form of business is the most common form of business owned and operated by many individuals across India. It’s the simplest and the … Read More » "Things to know before starting a sole proprietorship business in India"
Company registered in India is required to appoint an individual or a audit firm as it’s first auditor after its incorporation. Accounts of the company’s are required to be audited by such first auditor. At the year end, financial statements along with the auditor’s report are to be filled with register of companies (ROC) within … Read More » "Appointment of first auditor for a company – Companies Act 2013"
Current accounts in a bank are opened by business men who have higher turnover with regularly business transactions taking place in bank. Our saving account has a limit on withdrawal even irrespective of the balance in your account. There are also restrictions on per day withdrawal limit. One person can not withdraw more than the specified limit … Read More » "How to open a current account for your company"
Irrespective of the size and nature of business all private limited companies are required to comply with the legal requirements of India. Following legal compliance are must for a private limited company to comply. Legal compliance as per companies act As per companies act, all companies register in India are required to maintain books of … Read More » "Legal compliance for private limited company – Annual Audit"
Till last year, it was not possible to form a private limited company without two subscribers or shareholders. With the introduction of new Companies act 2013, an individual can set up companies alone without taking another subscriber or shareholder. With this new concept, small entrepreneurs can set up a one person company (OPC) without sharing … Read More » "Starting One person company (OPC) in India"
Appointment of company secretary or CS is governed by the Indian companies act. According to this act, a company secretary is to be appointed and/or compliance certificate is to be obtained based on the paid up share capitals of the company. Companies having paid up share capital of Rs. 10 lakh or more but less … Read More » "Appointment of Company Secretary in India"
Company registration cost in India depends on so many factors. One of the major factor is the authorized share capital with which you want to register your private limited company. If you want to register your private limited company with the minimum requirements then cost of company registration will be less. Cost of company registration … Read More » "Cost of company registration in India – For a private limited company"