[vc_row parallax=”content-moving”][vc_column width=”2/3″][vc_column_text]
Error: Contact form not found.
[/vc_column][/vc_row][vc_row parallax=”content-moving”][vc_column css=”.vc_custom_1479799890982{padding-top: 90px !important;padding-bottom: 85px !important;}”][edupro_container][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”Common Types of NGO” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542432057685{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px”]A business structure is important to decide to derive maximum benefit. Among the structuring options preferred by businessmen these days, trust and society constitute to be a few of the options. Both structures have similar purposes. However, their nature of the constitution, formation, taxations and dissolution are different.The most of common structures for Non-Profit Organization in India are Trust, Society and Section 8 Companies.
Trust: Trust is considered to be the oldest form of Charitable Organization. Trust can be either private or public. It is primarily created for the benefit of a section of people. Trust is governed by the Indian Trust Act 1882. The main instrument for Registration of Trust is Trust Deed. The creator of the Trust also appoints trustees. The trustees are given control or powers of administration of property in trust with a legal obligation to administer it solely for the purposes specified.
Society: Societies are governed under Society Registration Act 1860. It is generally formed by seven or more people who come together for a common charitable purpose. The main instrument for Registration of Society is the Memorandum of Association.
Section 8 Company: Section 8 companies are governed by Companies Act 2013. A company under this section can be formed for promoting charitable object relating to art, commerce, science, health and so on. These companies enjoy all the privileges and subject to all obligations of Limited Companies.[/edupro_heading][vc_column_text]
Basis of Difference
1. Minimum Requirement
2. Board of Management
3. Statute/Legislation
4. Jurisdiction
5. Registration Document
6. Revocable/ Irrevocable
7. Annual Compliance
8. Time Period involved in registration
9. Cost factor
10. Registration with Income Tax u/s. 12A & 80G as NGO
11. From the point of view of Grant of subsidy by the government
Trust Registration
At least two trustees are required to register a public charitable trust. In general, Indian citizens serve as trustees, although there is no prohibition against non-natural legal persons or foreigners serving in this capacity.
Trusts are governed by their trustees or by board of trustees.
Trust is governed by the Indian Trust Act, 1882.
Trusts are registered under the jurisdiction of Deputy Registrar/Charity commissioner of the relevant area.
The primary instrument for Registration of Trust is the Trust deed.
Indian public charitable trusts are generally irrevocable.
There is no requirement of annual return filing.
15-20 days
Low
At par with trust & Society.
Moderately preferred
Society Registration
Minimum Seven members are required for formation of state level society.
Societies are usually managed by a governing council or managing committee.
Societies are governed by the Societies Registration Act 1860. Many states, however, have variants on the Act.
The power to register a society lies in the hand of Registrar of societies.
The primary instrument for Registration of Society is its Memorandum of Association.
ocieties may be dissolved. Dissolution must be approved by at least three-fifths of the society’s members.
Societies must file annually, with the Registrar of Societies, a list of the names, addresses and occupations of their managing committee members.
20-25 days
Medium
At par with trust & Section 8 Company.
Moderately preferred
Section 8 Company
Minimum 2 directors and shareholders. Directors and Shareholders can be the same person.
It is managed by the board of directors.
Section 8 Companies are governed by the Indian Companies Act, 2013.
The power to register a section 8 Company lies with the Regional Director & Registrar of Companies of concerned state.
The primary instrument for Registration of Section 8 Company is the Memorandum and Articles of Association.
A section 8 Company may be dissolved.
There is requirement of annual compliance by filing of annual accounts and return of company with the Registrar of Companies.
10-15 days
High
At par with society & Section 8 Company.
Most preferred
[/vc_column_text][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”NGO Registration Process” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542429911349{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px”]
2 Days
[/edupro_heading][vc_column_text][cool-process category=”fssai-registration-process” type=”with-image” show-posts=”4″][/vc_column_text][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”NGO Registration Cost” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542429930047{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px”][/edupro_heading][vc_tta_tabs style=”modern” shape=”round” color=”sandy-brown” alignment=”center” active_section=”1″ css=”.vc_custom_1542378871481{background-color: #ffffff !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_tta_section title=”Trust” tab_id=”1542203744787-395e408c-6de3″][vc_row_inner][vc_column_inner width=”1/6″][/vc_column_inner][vc_column_inner width=”2/3″][vc_column_text]Private Limited Company is the most popular legal business entity in India; recommended for start-ups and growing businesses with easy funding, credibility and tax regulatory advantages.
| Consultancy | Free |
| Company Name Availability Search | Free |
| 2 DSCs | Rs 2,000 |
| Government Fee | Rs 1,300 |
| Stamp Duty | Rs 1,510* |
| Notarization Cost | Rs 500 |
| PAN & TAN Fee | Rs 170 |
| Professional Fees | Rs 5,525 |
| Goods & Service Tax | Rs 994 |
| Total Cost (Individuals) | Rs 11,999 |
* The above mentioned government fee has been calculated on minimum contribution of Rs.100000 *Stamp duty may vary state to state *Extra charges for NRI/Foreign directors or Foreign shareholding companies[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/6″][/vc_column_inner][/vc_row_inner][/vc_tta_section][vc_tta_section title=”Society” tab_id=”1542203831784-03908212-e581″][vc_row_inner][vc_column_inner width=”1/6″][/vc_column_inner][vc_column_inner width=”2/3″][vc_column_text]Limited Liability Partnership, is the most suitable business entity if going for a partnership that gives the benefits of minimum compliances, limited liability and tax advantages. It is ideal for small and medium-sized businesses.
| Consultancy | Free |
| Company Name Availability Search | Free |
| 2 DSCs | Rs 2,000 |
| Government Fee | Rs 1,750 |
| PAN & TAN Fee | Rs 170 |
| Professional Fees | Rs 5,152 |
| Goods & Service Tax | Rs 927 |
| Total Cost (Individuals) | Rs 9,999* |
* The above mentioned government fee has been calculated on minimum contribution of Rs.100000 * Stamp duty for LLP agreement has to be borne by the applicant[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/6″][/vc_column_inner][/vc_row_inner][/vc_tta_section][vc_tta_section title=”Co. Operative Society” tab_id=”1542203744863-3ee9856b-776b”][vc_row_inner][vc_column_inner width=”1/6″][/vc_column_inner][vc_column_inner width=”2/3″][vc_column_text]One Person Company, a hybrid form of business entity permits a person to run a business alone to encourage the small size businesses with the minimum legal regime and limited liability protection
| Consultancy | Free |
| Company Name Availability Search | Free |
| 1 DSCs | Rs 1,000 |
| Government Fee | Rs 1,300 |
| Stamp Duty | Rs 1,510* |
| Notarization Cost | Rs 500 |
| PAN & TAN Fee | Rs 170 |
| Professional Fees | Rs 5,525 |
| Goods & Service Tax | Rs 994 |
| Total Cost (Individuals) | Rs 10,999 |
* The above mentioned government fee has been calculated on minimum contribution of Rs.100000 *Extra stamp duty for Punjab, Kerala, Madhya Pradesh states[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/6″][/vc_column_inner][/vc_row_inner][/vc_tta_section][vc_tta_section title=”Multistate CGHS” tab_id=”1542430472948-6f027fc6-dbc3″][vc_row_inner][vc_column_inner width=”1/6″][/vc_column_inner][vc_column_inner width=”2/3″][vc_column_text]One Person Company, a hybrid form of business entity permits a person to run a business alone to encourage the small size businesses with the minimum legal regime and limited liability protection
| Consultancy | Free |
| Company Name Availability Search | Free |
| 1 DSCs | Rs 1,000 |
| Government Fee | Rs 1,300 |
| Stamp Duty | Rs 1,510* |
| Notarization Cost | Rs 500 |
| PAN & TAN Fee | Rs 170 |
| Professional Fees | Rs 5,525 |
| Goods & Service Tax | Rs 994 |
| Total Cost (Individuals) | Rs 10,999 |
* The above mentioned government fee has been calculated on minimum contribution of Rs.100000 *Extra stamp duty for Punjab, Kerala, Madhya Pradesh states[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/6″][/vc_column_inner][/vc_row_inner][/vc_tta_section][/vc_tta_tabs][/edupro_container][/vc_column][/vc_row][vc_row parallax=”content-moving” parallax_image=”1575″][vc_column width=”1/6″ css=”.vc_custom_1479799890982{padding-top: 90px !important;padding-bottom: 85px !important;}”][/vc_column][vc_column width=”2/3″][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”Documents Required for NGO Registration” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542429963784{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px” title_color=”#ffffff”]
Passport/ Driving
[/edupro_heading][vc_tta_tabs color=”orange” alignment=”right” active_section=”1″][vc_tta_section title=”Trust” tab_id=”1542378139798-90f7d534-8eaf”][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”Documents Required for Pvt Ltd Company Registration” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542379607178{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px” title_color=”#dd9933″]
Only Scanned Copies are needed, Scanned copy of PAN Card of all directors and Aadhar card/ Voter ID/ Passport/ Driving
[/edupro_heading][vc_empty_space][vc_row_inner equal_height=”yes” content_placement=”middle”][vc_column_inner width=”1/4″ css=”.vc_custom_1542378994821{background-color: #f7f7f7 !important;}”][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Photo” text=”Latest passport size photograph” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-id-badge” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][vc_empty_space height=”50px”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”ID Proof” text=”Scanned copy of PAN Card of all directors and Voter ID/ Passport/ Driving License” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-address-card-o” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Address Proof” text=”Latest utility bill(water/electricity/gas)” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-map-marker” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Registered Office Proof” text=”No Objection Certificate (NOC) from the owner #” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-university” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][/vc_row_inner][vc_column_text]
# No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property)/ Registry Proof or House Tax Receipt (in case of owned property)
[/vc_column_text][/vc_tta_section][vc_tta_section title=”Society” tab_id=”1542378139956-dc627c4d-97cd”][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”Documents Required for Pvt Ltd Company Registration” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542379607178{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px” title_color=”#dd9933″]
Only Scanned Copies are needed, Scanned copy of PAN Card of all directors and Aadhar card/ Voter ID/ Passport/ Driving
[/edupro_heading][vc_row_inner equal_height=”yes” content_placement=”middle”][vc_column_inner width=”1/4″ css=”.vc_custom_1542378994821{background-color: #f7f7f7 !important;}”][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Photo” text=”Latest passport size photograph” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-id-badge” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][vc_empty_space height=”50px”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”ID Proof” text=”Scanned copy of PAN Card of all directors and Voter ID/ Passport/ Driving License” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-address-card-o” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Address Proof” text=”Latest utility bill(water/electricity/gas)” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-map-marker” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Registered Office Proof” text=”No Objection Certificate (NOC) from the owner #” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-university” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][/vc_row_inner][vc_column_text]
# No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property)/ Registry Proof or House Tax Receipt (in case of owned property)
[/vc_column_text][/vc_tta_section][vc_tta_section title=”Co. Operative Society” tab_id=”1542378186922-e5ddbeed-5ea7″][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”Documents Required for Pvt Ltd Company Registration” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542379607178{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px” title_color=”#dd9933″]
Only Scanned Copies are needed, Scanned copy of PAN Card of all directors and Aadhar card/ Voter ID/ Passport/ Driving
[/edupro_heading][vc_row_inner equal_height=”yes” content_placement=”middle”][vc_column_inner width=”1/4″ css=”.vc_custom_1542378994821{background-color: #f7f7f7 !important;}”][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Photo” text=”Latest passport size photograph” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-id-badge” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][vc_empty_space height=”50px”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”ID Proof” text=”Scanned copy of PAN Card of all directors and Voter ID/ Passport/ Driving License” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-address-card-o” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Address Proof” text=”Latest utility bill(water/electricity/gas)” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-map-marker” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Registered Office Proof” text=”No Objection Certificate (NOC) from the owner #” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-university” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][/vc_row_inner][vc_column_text]
# No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property)/ Registry Proof or House Tax Receipt (in case of owned property)
[/vc_column_text][/vc_tta_section][vc_tta_section title=”Multistate CGHS” tab_id=”1542430149326-e3dc3cbd-c8ab”][/vc_tta_section][/vc_tta_tabs][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row][vc_row css=”.vc_custom_1478657032849{margin-top: 55px !important;}”][vc_column][edupro_container][vc_row_inner equal_height=”yes” content_placement=”middle”][vc_column_inner css=”.vc_custom_1470826377988{margin-bottom: 0px !important;padding-bottom: 0px !important;}”][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”What do you get” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542297076789{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px” title_color=”#dd9933″]
Everything to open a bank account and Start your business
[/edupro_heading][/vc_column_inner][/vc_row_inner][/edupro_container][/vc_column][/vc_row][vc_row parallax=”content-moving” css=”.vc_custom_1542207138856{background-color: #dd9933 !important;}”][vc_column width=”1/6″ css=”.vc_custom_1479799890982{padding-top: 90px !important;padding-bottom: 85px !important;}”][/vc_column][vc_column width=”2/3″][vc_tta_tabs color=”orange” alignment=”right” active_section=”1″][vc_tta_section title=”Trust” tab_id=”1542381483330-32668597-59da”][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”What do you get” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542297076789{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px” title_color=”#dd9933″]
Everything to open a bank account and Start your business
[/edupro_heading][vc_empty_space][vc_row_inner equal_height=”yes” content_placement=”middle”][vc_column_inner width=”1/3″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”DSC” text=”Digital signature for two directors to digitally sign the documents” title_color=”#ffffff” text_color=”#ffffff” line_color=”#ffffff” line_width=”40px” line_height=”2px” icon=”fa fa-usb” icon_color=”#ffffff” icon_border_color=”#ffffff” icon_hover_color=”#283593″ icon_hover_bg_color=”#ffffff” icon_hover_border_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/3″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Memorandum of Association” text=”Defines the rules and objective of the business” title_color=”#ffffff” text_color=”#ffffff” line_color=”#ffffff” line_width=”40px” line_height=”2px” icon=”fa fa-file-text” icon_color=”#ffffff” icon_border_color=”#ffffff” icon_hover_color=”#283593″ icon_hover_bg_color=”#ffffff” icon_hover_border_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/3″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Articles of Association” text=”Defines the rules and objective of the business” title_color=”#ffffff” text_color=”#ffffff” line_color=”#ffffff” line_width=”40px” line_height=”2px” icon=”fa fa-file-text-o” icon_color=”#ffffff” icon_border_color=”#ffffff” icon_hover_color=”#283593″ icon_hover_bg_color=”#ffffff” icon_hover_border_color=”#ffffff”][/vc_column_inner][/vc_row_inner][vc_empty_space][vc_row_inner equal_height=”yes” content_placement=”middle”][vc_column_inner width=”1/3″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”PAN Card” text=”PAN number of the company to open a bank account” title_color=”#ffffff” text_color=”#ffffff” line_color=”#ffffff” line_width=”40px” line_height=”2px” icon=”fa fa-address-card” icon_color=”#ffffff” icon_border_color=”#ffffff” icon_hover_color=”#283593″ icon_hover_bg_color=”#ffffff” icon_hover_border_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/3″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Incorporation Certificate” text=”Certificate of incorporation bearing the company’s registration number and details” title_color=”#ffffff” text_color=”#ffffff” line_color=”#ffffff” line_width=”40px” line_height=”2px” icon=”fa fa-certificate” icon_color=”#ffffff” icon_border_color=”#ffffff” icon_hover_color=”#283593″ icon_hover_bg_color=”#ffffff” icon_hover_border_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/3″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”TAN Number” text=”TAN number of the company” title_color=”#ffffff” text_color=”#ffffff” line_color=”#ffffff” line_width=”40px” line_height=”2px” icon=”fa fa-address-card” icon_color=”#ffffff” icon_border_color=”#ffffff” icon_hover_color=”#283593″ icon_hover_bg_color=”#ffffff” icon_hover_border_color=”#ffffff”][/vc_column_inner][/vc_row_inner][vc_column_text]# No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property)/ Registry Proof or House Tax Receipt (in case of owned property)[/vc_column_text][/vc_tta_section][vc_tta_section title=”Society” tab_id=”1542381485652-ff342c54-3cea”][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”Documents Required for Pvt Ltd Company Registration” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542379607178{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px” title_color=”#dd9933″]
Only Scanned Copies are needed, Scanned copy of PAN Card of all directors and Aadhar card/ Voter ID/ Passport/ Driving
[/edupro_heading][vc_row_inner equal_height=”yes” content_placement=”middle”][vc_column_inner width=”1/4″ css=”.vc_custom_1542378994821{background-color: #f7f7f7 !important;}”][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Photo” text=”Latest passport size photograph” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-id-badge” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][vc_empty_space height=”50px”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”ID Proof” text=”Scanned copy of PAN Card of all directors and Voter ID/ Passport/ Driving License” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-address-card-o” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Address Proof” text=”Latest utility bill(water/electricity/gas)” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-map-marker” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Registered Office Proof” text=”No Objection Certificate (NOC) from the owner #” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-university” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][/vc_row_inner][vc_column_text]
# No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property)/ Registry Proof or House Tax Receipt (in case of owned property)
[/vc_column_text][/vc_tta_section][vc_tta_section title=”Co. Operative Society” tab_id=”1542430250407-7d02bad1-0a30″][/vc_tta_section][vc_tta_section title=”Multistate CGHS” tab_id=”1542381487787-47c2f335-71fe”][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”Documents Required for Pvt Ltd Company Registration” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542379607178{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px” title_color=”#dd9933″]
Only Scanned Copies are needed, Scanned copy of PAN Card of all directors and Aadhar card/ Voter ID/ Passport/ Driving
[/edupro_heading][vc_row_inner equal_height=”yes” content_placement=”middle”][vc_column_inner width=”1/4″ css=”.vc_custom_1542378994821{background-color: #f7f7f7 !important;}”][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Photo” text=”Latest passport size photograph” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-id-badge” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][vc_empty_space height=”50px”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”ID Proof” text=”Scanned copy of PAN Card of all directors and Voter ID/ Passport/ Driving License” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-address-card-o” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Address Proof” text=”Latest utility bill(water/electricity/gas)” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-map-marker” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][vc_column_inner width=”1/4″][edupro_icon_box icon_position=”top-center” text_align=”center” title=”Registered Office Proof” text=”No Objection Certificate (NOC) from the owner #” title_color=”#dd9933″ text_color=”#dd9933″ line_color=”#dd9933″ line_width=”40px” line_height=”2px” icon=”fa fa-university” icon_color=”#dd9933″ icon_border_color=”#dd9933″ icon_hover_color=”#ffffff” icon_hover_bg_color=”#dd9933″ icon_hover_border_color=”#dd9933″ icon_bg_color=”#ffffff”][/vc_column_inner][/vc_row_inner][vc_column_text]
# No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property)/ Registry Proof or House Tax Receipt (in case of owned property)
[/vc_column_text][/vc_tta_section][/vc_tta_tabs][vc_empty_space][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row][vc_row css=”.vc_custom_1478657032849{margin-top: 55px !important;}”][vc_column][edupro_container][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”Frequently Asked Questions” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542376310897{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px” title_color=”#dd9933″][/edupro_heading][vc_row_inner equal_height=”yes” content_placement=”middle”][vc_column_inner width=”1/2″ css=”.vc_custom_1470826377988{margin-bottom: 0px !important;padding-bottom: 0px !important;}”][vc_toggle title=”What are the most popular forms of business entities in India?”]
- Private Limited CompanyBy virtue of section 2(68) of the Companies Act, 2013, Private Limited Company is a type of company which offers limited liability with certain restrictions defined in regulations:
- restricts the right to transfer shares
- Limits the numbers of its members to 200
- Prohibits any invitation to the public to subscribe for any shares in, are debentures of the company(No Public Trading of Shares)
- Prohibits any invitation or acceptance of deposits from persons other than its member
- The word ‘Private Limited’ must be added at the end of its name
- One Person CompanyOne Person Company popularly known as OPC introduced in India under the Companies Act, 2013. The concept of OPC is a fusion of sole proprietorship and private company which intends to permit single economic entrepreneurship to take the advantages of a corporate form of organisation.
- Limited Liability PartnershipLimited Liability Partnership is a corporate entity registered under Limited Liability Partnership Act, 2008. It is a form of partnership firm that enjoys limited liability. It is a hybrid form of a partnership that includes the features of a company. Compliances for a company are applicable to LLP.
Does one have to present physically to incorporate a business entity?
No, the whole incorporation process is online. You can send the scanned copy of all the required incorporation documents via e-mail. All the forms and documents are filed electronically and even signed digitally.
[/vc_toggle][vc_toggle title=”How to choose a name for a business entity to avoid rejection?”]The company name should be selected with utmost care. The rules for selecting a company are:
- The name should be ended with the words “Private Limited” in case of private company, “OPC” in case of one person company and “LLP” in case of limited liability partnership which is mandated by law.
- The name must be unique.
- Follow the naming guidelines for better chances of approval.
- The name should be suggestive of the main objectives to be taken by the business entity.
[/vc_toggle][vc_toggle title=”What are the mandatory compliances after incorporation of a business entity?”]
- Private Limited Company
- Appointment of auditor
- Statutory audit of accounts
- Filing of annual return
- Filing of financial statements
- Holding Annual General Meeting (AGM)
- Prepare directors’ report
- Filing of income tax return
- One Person Company
- Appointment of statutory auditor
- Holding Board Meetings (BM)
- Filing of financial statements
- Filing of annual return
- Limited Liability Partnership
- Filing of financial statements
- Filing of annual return
- Filing of income tax return
- Appointment of auditor
- Filing of LLP annual retur
[/vc_toggle][vc_toggle title=”Can a business entity register on the residential address?”]You don’t need a proper office to incorporate a business entity. You can register your residential address as a registered place of your business with MCA for which some address proof along with the NOC (No Objection Certificate) has to be filed with the prescribed form.[/vc_toggle][/vc_column_inner][vc_column_inner width=”1/2″ css=”.vc_custom_1483498732259{padding-top: 30px !important;padding-bottom: 30px !important;}”][vc_toggle title=”Can an NRI allow to incorporate a business entity in India?”]NRIs only allowed to incorporate limited business entities in India including private limited company and limited liability partnership. Also, there is no requirement to obtain the prior approval from the government or RBI. But, in order to register a private company or an LLP at least one director/partner must be a resident of India. However, the private limited company is ideal for NRIs.[/vc_toggle][vc_toggle title=”Which business entity is the most suitable for start-ups and why?”]In order to execute the idea into a long-term business, choosing the right form of business is important. For start-ups, Private Limited Company is the best option for the following reasons:
- Limited legal compliances
- No minimum capital contribution
- Need only 2 directors and shareholders (both can be the same person)
- Funding can be raised
- Limited liability of the members
[/vc_toggle][vc_toggle title=”What is the minimum investment required to start a business entity in India?”]As per the relevant Act, there is no minimum requirement for Paid-up Share capital or contribution to incorporate a private company, one person company or limited liability partnership. However, each shareholder/partner should subscribe to a minimum one share of Rs.10 face value.[/vc_toggle][/vc_column_inner][/vc_row_inner][vc_tta_tabs][vc_tta_section title=”FAQ-Trust” tab_id=”1542375494714-636452e0-b785″][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”Frequently Asked Questions – Private Limited Company” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542377771215{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px” title_color=”#dd9933″][/edupro_heading][vc_row_inner][vc_column_inner width=”1/2″][vc_toggle title=”Why is the Private Limited Company the best option for start-ups?”]In order to execute the idea into a long-term business, choosing the right form of business is important. For start-ups, Private Limited Company is the best option for the following reasons:
- Limited legal compliances
- No minimum capital contribution
- Need only 2 directors and shareholders (both can be the same person)
- Funding can be raised
- Limited liability of the members
[/vc_toggle][vc_toggle title=”Who can become a director in a Private Limited Company?”]Any individual or organisation or even an NRI/foreign nationals can become a director in an Indian Private Limited Company. Here are the conditions to become a director in an Indian private company:
- Director must be a natural person
- He must be over the age of 18 years
- He requires a Director Identification Number (DIN)
[/vc_toggle][vc_toggle title=”How long is the registration valid for Private Limited Company in India?”]The private limited company formation comes into existence on issuing of incorporation certificate. A company remains active even though all the shareholders and directors of the pvt ltd company may be changed unless it is wound up either voluntarily or by order of the Court/ NCLT. Also, the Company may be struck off from the register of the ROC if:
- The Company has not commenced business within a period of 1 year from the date of incorporation, or
- The Company has not complied with the Annual Filing Compliance In such a case, the company will be liable to be struck off from the Register of the ROC after a period of time and the Director of such a company will be held in default.
[/vc_toggle][vc_toggle title=”Is there a limit on Shareholders in a Private Limited Company?”]A minimum of 2 Shareholders is required for incorporation of Pvt Ltd Company. However, a private company can have a maximum of 200 Shareholders.[/vc_toggle][vc_toggle title=”Can I become a director in a Private Limited Company if I am already in employment?”]Yes, there is no such legal constraint in the Companies Act if not restricted by the employment agreement. All you need to do is check your employment agreement because it may limit you from becoming a director in other company simultaneously.[/vc_toggle][vc_toggle title=”Can I become a director in a Private Limited Company if I am already in employment?”]Yes, there is no such legal constraint in the Companies Act if not restricted by the employment agreement. All you need to do is check your employment agreement because it may limit you from becoming a director in other company simultaneously.[/vc_toggle][vc_toggle title=”Does one have to present physically to incorporate a private company?”]No, the whole pvt ltd company incorporation process is online. You can send the scanned copy of all the required incorporation documents via e-mail. All the forms and documents are filed electronically and even signed digitally.[/vc_toggle][vc_toggle title=”Is foreign direct investment allowed in private limited company?”]Yes, FDI (Foreign Direct Investment) is allowed in a private limited company as this form of business entity is easy to raise funds. FDI (Foreign Direct Investment) is allowed in private limited companies for non-residents through automatic or approval route.[/vc_toggle][/vc_column_inner][vc_column_inner width=”1/2″][vc_toggle title=”What is the limit for Directors in a Private Limited Company?”]A minimum of 2 Directors are required for incorporation of Pvt Ltd Company, one of the said Director shall be a resident in India, i.e. should be in India for a period of 182 days or more in the previous financial year. However, a private company can have a maximum of 15 Directors.[/vc_toggle][vc_toggle title=”How to choose a name for Private Limited Company to avoid rejection?”]The company name should be selected with utmost care. The rules for selecting a company are:
- The name should be ended with the words ‘Private Limited‘ which are mandated by law.
- The name must be unique.
- Follow the naming guidelines for better chances of approval.
- The name should be suggestive of the company business.
[/vc_toggle][vc_toggle title=”Can a Foreign Company incorporate a Private Company?”]As per the Companies Act 2013, there is no minimum requirement for Paid-up Share capital. However, each shareholder should subscribe to a minimum one share.[/vc_toggle][vc_toggle title=”What are the mandatory compliances for a Private Limited Company?”]The common mandatory compliances are:
- Appointment of auditor
- Statutory audit of accounts
- Filing of annual return
- Filing of financial statements
- Holding Annual General Meeting (AGM)
- Prepare directors’ report
[/vc_toggle][vc_toggle title=”Can a Private Limited Company register on residential address?”]You don’t need a proper office address to incorporate a company. You can register your residential address as a registered office address of your business with MCA (Ministry of Corporate Affairs) for which some address proof along with the NOC (No Objection Certificate) has to be filed with the prescribed form.[/vc_toggle][vc_toggle title=”Can an NRI allowed to incorporate a Private Limited Company in India?”]NRIs only allowed to incorporate limited companies in India and the private limited company is ideal for NRIs. Also, there is no requirement to obtain the prior approval from the government or RBI. But, in order to register a private company at least one director must be a resident of India.[/vc_toggle][vc_toggle title=”Which type of business entity is ideal for medium and large sized businesses?”]Private limited company is an ideal form of business entity for the majority of medium and large sized businesses as it offers advantages from limited liability protection to easy transferability. But it is not suitable for small businesses.[/vc_toggle][vc_toggle title=”Can a private limited company be converted into and other type of business entity?”]Yes, conversion of private limited company into a public company or one person company or limited liability partnership is possible. But a private limited company cannot be converted into a traditional partnership or sole proprietorship.[/vc_toggle][/vc_column_inner][/vc_row_inner][/vc_tta_section][vc_tta_section title=”FAQ-Society” tab_id=”1542375494832-420d748f-31e8″][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”Frequently Asked Questions – Limited Liability Partnership” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542377864285{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px” title_color=”#dd9933″][/edupro_heading][vc_row_inner][vc_column_inner width=”1/2″][vc_toggle title=”What is LLP?”]Limited Liability Partnership is a corporate entity registered under Limited Liability Partnership Act, 2008. It is a form of partnership firm that enjoys limited liability. It is a hybrid form of a partnership that includes the features of a company. Compliances for a company are applicable to LLP.[/vc_toggle][vc_toggle title=”What are those business activities for which an LLP needs a prior authority from regulatory authorities?”]Activities including banking, venture capital, stock exchange, asset management, mutual fund, architecture, merchant banking, securitisation and reconstruction, chit fund and non-banking financial activities require the prior permission from the regulatory body.[/vc_toggle][vc_toggle title=”What are the ineligibilities of a designated partner?”]
- If he is declared unsound mind by the prescribed court.
- Is undischarged insolvent
- Has applied for insolvency and application is pending.
[/vc_toggle][vc_toggle title=”Can a Foreigner become a partner in LLP?”]Yes. Provided minimum one partner is required to be an Indian citizen and resident in a previous calendar year.[/vc_toggle][vc_toggle title=”Is Foreign Direct Investment is allowed in LLP?”]Foreign Direct Investment is approved under the automatic route where 100% FDI is permitted. In Electronic System Design & Manufacturing( ESDM ) Sector, 100% FDI is allowed in LLP under the government route is approved, however, an investment in manufacturing of defence electronics and Brownfield investments in medical devices making are not allowed. In a Government Route, the applications are considered by the Foreign Investment Promotion Board (FIPB).[/vc_toggle][vc_toggle title=”Who are required to file their DSC as per the LLP Act?”]Only one designated partner is required to file DSC for e-filing purposes.[/vc_toggle][vc_toggle title=”Can I become a partner in a Limited Liability Partnership if I am already in employment?”]Yes, there is no such legal constraint in the LLP Act if not restricted by the employment agreement. All you need to do is check your employment agreement because it may limit you from becoming a partner in an LLP during the employment.[/vc_toggle][vc_toggle title=”Can a partnership firm convert itself into LLP?”]An existing partnership firm can be converted into LLP by complying with the Provisions of clause 58 and Schedule II of the LLP Act. Form 17 needs to be filed along with Form 2 for such conversion and incorporation of LLP.[/vc_toggle][vc_toggle title=”Is the conversion of LLP into a Private Limited Company possible?”]LLP Act, 2008 and Companies Act, 2013, both do not have any provision regarding the conversion of an LLP into a Private Limited Company. You can only incorporate a new private limited company with the same name for which a no objection certificate is required by the LLP.[/vc_toggle][vc_toggle title=”Does one have to present physically to incorporate an LLP?”]No, the whole incorporation process is online. You can send the scanned copy of all the required incorporation documents via e-mail. All the forms and documents are filed electronically and even signed digitally.[/vc_toggle][/vc_column_inner][vc_column_inner width=”1/2″][vc_toggle title=”How many partners can form an LLP? Is there any maximum limit?”]As per LLP Act, 2008 a minimum of two partners can incorporate an LLP. There is no maximum limit for the partners.[/vc_toggle][vc_toggle title=”What are the rights and duties of a designated partner?”]The rights and duties of a designated partner are governed by LLP Agreement executed between them as per the Act.[/vc_toggle][vc_toggle title=”Can a Foreign LLP establish a business in India?”]Yes by filing Form 27 with the ROC a foreign LLP can establish a business in India. The form shall include details of Foreign LLP incorporation, designated partners and minimum of two authorized representatives for compliances under Act.[/vc_toggle][vc_toggle title=”What is the provision for stamp duty payment on LLP Agreement under LLP Act, 2008?”]Stamp duty is payable under State Stamp Act of the state in which the LLP is registered. Stamp duty on LLP Agreement is not to be paid on MCA portal.[/vc_toggle][vc_toggle title=”Is it mandatory that all the designated partners have to be the partners of the LLP?”]As per the general rule, every designated partner of an LLP must also be the partner of an LLP. However, there are some exceptions to the general rule:
- If the partners of the LLP are a body corporate then in such case the nominees of the bodies corporate can act as a designated partner.
- If the LLP agreement specifies certain persons to be a designated partners in an LLP without being a partner in the same LLP than such people can act as a designated partner.
[/vc_toggle][vc_toggle title=”Is it mandatory to register the LLP Agreement with the ROC?”]Yes. The execution and filing of the LLP Agreement are mandatory under the Act.[/vc_toggle][vc_toggle title=”Can an LLP register on the residential address?”]You don’t need a proper office to incorporate an LLP. You can register your residential address as a registered place of your business with MCA for which some address proof along with the NOC (No Objection Certificate) has to be filed with the prescribed form.[/vc_toggle][vc_toggle title=”Can LLP be formed without entering into LLP Agreement?”]In the absence of LLP Agreement provisions of Schedule I to the LLP Act, 2008 are applicable. Provided the agreement is mandatory if you want to exclude few provisions of Schedule I or wish to exclude it completely.[/vc_toggle][vc_toggle title=”What are the advantages of forming LLP?”]
- Incorporation of LLP involves low cost
- It inhibits the features of both a partnership firm and a company.
- Unlike a company, LLP can be formed with minimum two designated partners without any maximum limit.
- Audit is not mandatory unless an LLP has a turnover exceeds Rs.40 lakhs and capital contribution exceeds Rs. 25 lakhs
- Personal assets of the partners are secured, as LLP have the feature of limited liability. As compared to the traditional partnership, liability of each partner is limited to his share as mentioned in the agreement.
- LLP is not required to file taxes; only partners individually have to file their taxes.
- Fewer compliances as there is no requirement to maintain any statutory records except books of accounts.
[/vc_toggle][/vc_column_inner][/vc_row_inner][/vc_tta_section][vc_tta_section title=”FAQ-Co. Operative Society” tab_id=”1542375613570-cb76c1d7-d2be”][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” title=”Frequently Asked Questions – One Person Company” add_fonts_title=”true” add_fonts_subtitle=”true” add_fonts_description=”true” css=”.vc_custom_1542377909109{margin-bottom: 30px !important;}” line_color=”#212121″ line_width=”40px” line_height=”2px” description_font_size=”13px” title_color=”#dd9933″][/edupro_heading][vc_row_inner][vc_column_inner width=”1/2″][vc_toggle title=”Who can form One Person Company?”]An OPC can be formed only by a natural person who is an Indian citizen and stayed in India for a minimum of 182 days in the immediately previous calendar year.[/vc_toggle][vc_toggle title=”What is the minimum number of Directors required to form an OPC?”]Minimum one Director is required to incorporate an OPC. Further, the sole member can also become the first director of the Company till the member appoints any other director.[/vc_toggle][vc_toggle title=”What is the minimum capital requirement to start an OPC?”]As per the Companies Act, 2013 and Company (Incorporation) Rules these is no minimum capital requirement to incorporate an OPC in India. You can even start an OPC with a capital contribution as low as Rs. 2. However, the maximum capital allowed is Rs. 50 lakh.[/vc_toggle][vc_toggle title=”Can I form two or more OPCs?”]No, a member can’t incorporate more than one OPC as under Companies (Incorporation) Rules, 2014. Further, a Nominee can’t be a nominee and a member in two OPCs.[/vc_toggle][vc_toggle title=”Who can be a Nominee?”]As per Rule 3 of Companies (Incorporation) Rules, 2014 only a natural person who has attained majority and is an Indian citizen and resident of India in the previous calendar year can become a Nominee Director in an OPC.[/vc_toggle][vc_toggle title=”When does a One Person Company require to convert itself mandatorily?”]A One Person Company is required to be converted into a Private Limited or Public Limited company when it crosses the threshold limit of paid-up capital of Rs. 50 Lakhs or Average Turnover of Rs. 2 Crores in any year.[/vc_toggle][vc_toggle title=”I am a sole member of an OPC (Name can’t be revealed). Recently my Average turnover crossed the threshold limit or Rs. 2 crores. What should I do now?”]
- Once your threshold limit is crossed either the paid-up capital or the average turnover; the OPC is mandatorily required to convert itself into a Private Company or a Public Company. Follow the steps below after crossing the threshold limit.
- File form INC-5 to inform ROC about the breach of threshold limit within 60 days of breach of limit.
- Convert the OPC into public or private Company as per the Companies Act, 2013 within six months period from the date of breach of threshold limit.
[/vc_toggle][/vc_column_inner][vc_column_inner width=”1/2″][vc_toggle title=”What are the disadvantages of an OPC?”]Disadvantages of forming an OPC are-
- Ineligible to carry Non- Financial Business Activities,
- Can’t convert voluntarily in any form of the company before two years of incorporation and prohibited to convert itself at any time into section 8 Company.
- Restrictions of a Private Limited Company apply to OPC also.
- It is more suitable for small entrepreneurs due to limited share capital structure.
Read More[/vc_toggle][vc_toggle title=”How to inform ROC about the cessation of membership?”]The OPC is required to file INC-4 in case of cessation of membership on account of death, incapacity or change in ownership. In the same form, the details of a new member are required to be mentioned.[/vc_toggle][vc_toggle title=”Is there any form required to be filed in case of conversion of OPC into a Private Limited or Public Limited Company?”]Yes, a form INC-6 is required to be filed with ROC in case of conversion of OPC into any form of the company whether Private or Public Company. Further, a private company is also required to file INC-6 in case of converting itself into an OPC.[/vc_toggle][vc_toggle title=”What is the time limit to file INC-6?”]Time limit for filing INC-6 is thirty days in case of voluntary conversion and Six months in case of mandatory conversion.[/vc_toggle][vc_toggle title=”What if the Nominee of an OPC is now the member of the OPC and at the same time holds the position of the member in other OPC?”]If a member of an OPC becomes the member of another OPC then within 180 days he will be required to fulfil the statutory eligibility criteria for becoming a member of only one OPC and will have to withdraw his membership from either OPC.[/vc_toggle][vc_toggle title=”How to inform ROC about the change in Nominee?”]File INC-4 with the ROC informing about the change in Nominee or withdrawal of consent by the Nominee.[/vc_toggle][vc_toggle title=”Can I become a director in an OPC if I am in already in employment?”]Yes, there is no such legal constraint in the Companies Act if not restricted by the employment agreement. All you need to do is check your employment agreement because it may limit you from becoming a director in other company simultaneously.[/vc_toggle][/vc_column_inner][/vc_row_inner][/vc_tta_section][vc_tta_section title=”Multistate CGHS” tab_id=”1542430342342-d9d9025c-3d25″][/vc_tta_section][/vc_tta_tabs][/edupro_container][/vc_column][/vc_row][vc_row css=”.vc_custom_1542207750423{background-image: url(http://onlinengoindia.com/wp-content/uploads/2018/08/page-title.jpg?id=1575) !important;}”][vc_column][edupro_container][edupro_heading title_fonts=”font_family:Roboto%20Slab%3A100%2C300%2Cregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal” description_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal” title=”Questions? Call us on 759495945″ css=”.vc_custom_1542207722526{margin-bottom: 40px !important;}” line_color=”#ffffff” title_color=”#ffffff” subtitle_color=”#ffffff” description_color=”#ffffff” description_font_size=”14px”][/edupro_heading][/edupro_container][/vc_column][/vc_row][vc_row][vc_column][edupro_container][vc_single_image image=”550″ img_size=”full” alignment=”center” title=”Team mymodelvillage Passionate for Your Startup Success”][/edupro_container][/vc_column][/vc_row]