Company Registration Chennai

Who Are Eligible For GST Registration in India Generally, a person is required to get registered under the GST law when their aggregate turnover crosses the prescribed threshold limit. However, there are specific categories of people who must register under the GST law irrespective of their turnover. These are – a non-resident taxable person (NRTP) making taxable supplies, a business whose aggregate turnover is greater than 20 lakh rupees and individuals who want to avail the composition scheme. The procedure for filing an application for registration is simple and quick. An applicant needs to fill up all the relevant details in the Goods and Services Tax   portal using a username and password created for that particular application. Once the application is filled, the GST portal will automatically generate a temporary reference number for that particular application. An applicant needs to save this TRN for any further process in the GST portal. Once the TRN is save...

What Are the Compliance Required for OPC Private Limited Company OPC is a revolutionary concept introduced by the new Companies Act of 2013. Whereas earlier, two directors and shareholders were required to incorporate a company, an OPC can be incorporated with only one member. OPC provides a separate legal entity status which is beneficial for entrepreneurs who want to minimize their personal liabilities and enjoy tax benefits. However, it is important to note that despite being a separate entity, an OPC is still subject to various laws and compliances which are applicable to any other business. To ensure the smooth functioning of a One Person Company , it is advisable to follow the mandatory annual compliances which are applicable to all businesses. By adhering to these compliances, you will be able to avoid penalties that may arise due to non-compliance. Additionally, regular compliances will also help in maintaining the active status of your company. Annual ...

What Are the Procedures for Formation of LLP in India There is a minimum requirement of two Designated Partners to start an LLP. However, there is no maximum limit of partners to form an LLP. A LLP is a separate legal entity which means it continues even after death, bankruptcy, insanity or change in partners. The LLP is also taxed separately from the partners and has perpetual succession. The LLP Registration process has been made more efficient with the recent amendments done via Limited Liability Partnership (Second Amendment) Rules, 2022 which have introduced simplified forms and online filing of documents for registering an LLP. The amendments have also eased the compliance burden of an LLP. Now, an LLP has to file only two statements compared to the eight to 10 statements which are required for a private company to file. The first step of LLP registration is to reserve the name of the LLP by filling a web form called RUN-LLP (Reserve Unique Name – Limited...

Why is IT Filing Mandatory in India If you have a valid PAN (Personal Account Number), and your income is higher than the limit of exemption, you will have to file an Income Tax Return. This is also required if you want to avail any tax rebates or benefits. The income tax department in India requires every individual, HUF (Hindu Undivided Family), company, or trust to file an income tax return . This is done through e-filing which means that it is done over the internet using pre-approved software. It's a popular and convenient method of filing taxes. In order to e-file, you must have the necessary documents ready. This includes Form 16 (provided by your employer), proof of investments, and other receipts. Also, make sure that you have a copy of your bank statements. You will also need your Aadhaar card or one-time password if you plan to use the Aadhaar OTP option for e-verification . After you've filed your tax returns, it is important to verify them. ...

How to Incorporate a New Limited Liability Partnership Registration India When starting a new business, it's important to make sure you meet all of your state's requirements. This includes registering your business, opening a bank account, and paying franchise taxes, which vary by state. It's also helpful to find a lawyer to handhold you through the process so that you can focus on running your business. To register a new LLP , the first step is to get a DIN (Director Identification Number). The application for DIN should be made in Form DIR-3 and signed by a Chartered Accountant, Company Secretary, or Cost Accountant in practice. Once you have your DIN, the next step is to apply for the LLP name approval.  You can do this through the MCA portal by conducting a free name search to ensure that your proposed LLP name is distinct from other existing names and is not deemed undesirable by the government.  You'll need to include the DPIN, address proof, ...

What Are the Documents Required for Company Registration in India After selecting the appropriate business structure, it is time to file for company registration. However, before doing so it is essential to have all the required documents ready. In this article, we will provide a comprehensive list of the essential documents required for company registration in India. The first thing to do is to obtain a Digital Signature Certificate (DSC). This is necessary because it allows you to sign the important documents required for company registration while filing the online forms. This will ensure that your details are secure. Next, it is a good idea to handover proof of address. This can be in the form of a valid utility bill, Aadhaar card, passport, driving license or bank statement with name and address. It is also advisable to make sure that the names and addresses provided on these proofs match with the ones mentioned in your PAN card. Once you have these do...

How to Register Private Limited Company Online in India If you are planning to register your business as a Private Limited Company, we can help you to get it done faster and at an affordable cost. Private Limited Company registration is one of the most preferred forms of business entities in India. This type of company offers you several benefits such as limited liability protection whereby your personal assets are shielded from the debts of the company, ability to raise equity capital and a tax advantage. The registration process for a Private Limited Company involves the filing of various documents with the Registrar of Companies. The key requirements include a memorandum and articles of association, a list of directors and shareholders, and proof of registered office. You also need to pay the incorporation fee and submit certified copies of the documents. Once the company is incorporated, it will be issued a certificate of incorporation by the Registrar of Comp...

How to Register Annual Filing in India How to Register Annual Filing in India is a mandatory process for all registered companies to ensure their registration remains active. Annual filings are essential because they help a company keep track of its financial status and manage the information it shares with government agencies and members of the public. Generally, the annual filings consist of the Audited Financial Statement of the Company, Directors Report and Annual Return of the Company. All the documents have to be filed with the Registrar of Companies within the prescribed period of time after the end of the financial year. It is important to file ROC Forms and documents on time to avoid any penalties in future. The Registrar of Companies (ROC) keeps track of all the registered companies in the country and requires them to file various forms and documents on an annual basis. This helps ROC stay informed about the companies and their activities and also hel...