The default option for start-ups and growing businesses as only private limited companies can raise venture capital. This type of company offers limited liability for its shareholders with certain restrictions placed on the ownership. Private limited company registration, directors may be different from shareholders.
LLP was introduced to provide a form of business that is easy to maintain and to help owners by providing them with limited liability. Limited Liability Partnership Registration combines the benefits of a partnership with that of a limited liability company.
The best structure for solo entrepreneurs looking beyond the opportunities a sole proprietorship affords. Here, a single promoter gains full authority over the company, restricting his/her liability towards their contributions to the enterprise. The said person will be the sole shareholder and director.
A business structure in which two or more individuals manage a business per the terms in Partnership Deed. It’s best suitable for home businesses that are unlikely to take any debt due to low cost, ease of setting up and minimal compliance requirements.
According to the Companies Act 2013, all Private Limited Companies have to fulfil the mandatory compliances. All the benefits of a private limited company, such as the ability to raise capital easily and accommodate shareholders, come at the cost of increased compliance.
GST is the all-in-one tax that covers all businesses, whether service or manufacturing. Taxpayers with a turnover of less than Rs.1.5 crore can opt for composition scheme to get rid of tedious GST formalities and pay GST at a fixed rate of turnover.
Income tax is levied on the income of a person at specified rates and is paid directly to the Central government. The statement of income is furnished on the prescribed forms such as ITR 1, ITR 2, ITR 3, etc. that differ depending on the income.
An employer or company that has valid TAN - Tax Collection and Deduction Account Number can file for TDS return. Any individual or business who makes a particular payment which is stated under the I-T Act needs to deduct tax at source.
The Shops and Establishments Act regulates the conditions of work, lists the rights of employees in the unorganised sector and provides a list of obligations for every employer. It is mandatory for every establishment to be registered within 30 days of commencement.
Any entrepreneur looking to start a food business - packaging, processing, distribution, etc have to obtain a valid Food Safety and Standard Authority of India license. FSSAI monitors these businesses under the guidelines and regulations listed in FSSAI Act 2006.
International Standards Organization (ISO) is an independent organization that sets the standards for businesses in terms of quality, safety, and efficiency of products. An ISO registration enhances the reputation of your service or product.
Import Export (IE) Code is issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India to all businesses involved in importing or exporting goods and services from India.