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All you need to know before choosing Limited Liability partnership as a form of business

Introduction Limited liability Partnerships (LLP) is the most popular form of partnership in India which is becoming the most favoured form of partnership over the traditional forms of partnerships and sole proprietorships Features of Limited Liability Partnership It should have a minimum of 2 partners There is no limit on maximum number of partners No minimum capital is required to start it Factors to be considered Benefits of a LLP Limited Liability: Unlike the sole proprietorship and partnership firms, where the owners have an unlimited liability, the liability of [...]

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All you need to know before choosing Private Limited company as a form of business

Introduction Private limited company is the most popular corporate entity amongst small, medium and large businesses in India. Features of a Private Limited company It should have a minimum of 2 members and can have up to 200 members No minimum capital is required to start it. It has minimum 2 directors Factors to be considered Benefits of a Private Limited Company Separate Legal existence: A private limited company will be a separate person in the eyes of law, i.e. its members and “the company” will both enjoy [...]

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Procedure for closing a private limited company in India

Often, we register a company for a business idea we wanted to implement and for some reasons it does not work, we do not even start the work. Also, there are times when we register a company for a future project and hence those companies are not operational in present. There are various compliances which one needs to meet after registering a company and it takes a cost to meet them. Who would want to bear more cost for the [...]

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SPICE- The modern way to register your company!

Incorporating a company in India has become more easy with newly introduced SPICE- Simplified Proforma for Incorporating Company Electronically Earlier, to incorporate a company, one needed to fill up several forms such as for obtaining approval of name, acquiring DIN, registering the company & approval of registered office etc. Introduction of fast track registration form (INC-29) on May 2015 which particularly included all the above forms in one & thus simplified the incorporation process Through a notification on October 1 2016, MCA has [...]

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All you need to know before choosing partnership as a form of business

The moment you think of starting a business, you may think of a sole proprietorship form for a start i.e. when the business operations are small. As your business grows this form of business would not be able to grow beyond a certain limit because of the following two reasons: Funds Constraint: Sole proprietorship would not be an attractive form of business for banks to lend their monies as loans. Additionally, the amount of funds that a sole owner could introduce [...]

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All you need to know before choosing One Person company as a form of business

Introduction One Person Company is introduced newly under the companies act, as the name suggests it lets a single person to form and register a company under the Companies Act. Features of a one person company It has only one member No minimum capital is required to start, and it can have maximum Paid up share capital of Rs.50Lakhs It can have only 1 director and maximum 15 directors Term “One person company” must be mentioned below the name of the company. Factors to be considered Benefits of a [...]

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