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"
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"
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"
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"
Chartered accountants (CA) or company secretaries (CS) are the persons who are authorized to approve and certify all the documents that are required in company registration process. At each steps of company registration process, you need to obtain their approval before uploading it to MCA website. Approval of DIN Director Identification Number (DIN) is required … Read More » "Job of a Chartered Accountant or CS in company registration Process"
Partnership firms in India and its registrations are governed by partnership act, 1932. Anyone can form it with more than one individual. Each and every individual forming a partnership firm will be called as partners. Each partner will share their profits out of the income generated from the partnership firm’s business based on the ratio … Read More » "Partnership Firm Registration in India"
Like MOA, Articles of Association (AOA) is also prepared at the time of incorporation of a company in India. Different countries like United Kingdom, Pakistan, Bangladesh, Srilanka also have this concept of preparation of AOA. An AOA defines the rules and regulations which a company will be following while carrying out the activities as mentioned … Read More » "What is Articles of Association (AOA) – A beginner’s guide"
Memorandum of association (MOA) is a statement which is prepared and uploaded by the subscriber at the time of company’s registration. You can take help of a professional like a CA or CS for drafting of memorandum of association (MOA). Contents of Memorandum of Association – MOA MOA has to be prepared and to be … Read More » "What is Memorandum of Association (MOA) – A beginner’s guide"
Wholly owned subsidiary is a company in which another company holds 100% share. The company which holds 100% share is called parent company. An organization will become a subsidiary of another when that other organization holds 51 to 99.99% share in it. When that shareholding becomes 100% it will be called as a wholly owned … Read More » "Wholly owned Subsidiary company Formation in India"