Why you are one step short of Creating and Accumulating Wealth
People are deciding about selecting Company in India due to following Five Critical Factor
Disinvest your share
Create Brand and Corporate image
Accessing and Retaining Manpower
- Access to Larger Market in India as Foreigner or Foreign Resident can do business mainly via Company
Read more about additional Benefit
- Lower Taxes Rates as compared to Branch or Liasion Office
- A Separate legal entity, independent from the right of ownership of its members from time to time.
- Difference between the Owner and Management of the Company
- Limited Liability of the Investor or Shareholder
- Perpetual succession
- Right to enter into contracts and Sue
- Right to own property
- Transferability of Company Share
- Initiate Export to other Countries
Decided to form the Company ?
Did you select the Kind of Company Like
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Email us for complementary consultation regarding the Selection of Name of your Proposed Company. We will provide our consultation whether these names are registered with MCA or not or Covered under Company Law Guidelines for allotting the names of the Company.
Basic Documents needed to initiate the Procedure of Forming the Company
Documents which reflect
4 Critical Steps to Form the Company
- Pre Registration Process
- Name Availability
- Documentation
- Filling and Registration
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The company cannot claim any fundamental rights given to citizens.
- Higher Taxes to the Company as compared to other Legal entity like Proprietorship or Partnership
- Audit is must irrespective of the turnover
- Higher Indirect Tax and Income Tax Compliances
- Understanding the SWOT analysis of public & private limited companies
- Higher Taxes to the Company as compared to other Legal entity like Proprietorship or Partnership
- Audit is must irrespective of the turnover
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Certain Additional Critical Factor depending upon the nature of business and location lije
- Evaluation of Locational Benefits including Souring and Government Benefit
- Evaluation of Sector Benefit ie Whether Unit is Eligible for any tax benefit on the Sector
- Taxability of a Particular Sector or Entity like Branch and Companies attract Different Tax Rates
- Labour Laws and Availability of the Resources
- Evaluation of procedure for branch offices
- Partnerships and joint ventures facilities can be availed via us.
- Verification of credential of Indian partners, suppliers, buyers and other concerned entities through us.
- Further India has entered numbers of Regional and International Trade Agreement offering preferential trade tariffs on trade of items among different member countries. Some of the trade agreement includes South Asia Association
- In case of Export, registration with certain association helps in marketing and purchase
- Impact the cost and taxes
- Impact the time to be devoted on Compliance
- Certain incentives at Central Level or State Level are available depending upon nature of business or location of business. Such incentive includes
- Special Tax Incentive
- Rebate on Cost of Land
- Rebate of State duly on sale/Lease of Land
- Concession in Power Tariff for new units
- Special Incentive for Mega Projects
- Employee Subsidies
Lack of knowledge of incentive can increase the initial cost of business and running up cost of business.
Regional and International Trade Agreement and Association
Last but not least wrong selection may affect future hindrance
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Few basic things to be kept in mind while starting a company:
Shareholders and Directors: A Private Limited Company can have maximum of 50 shareholders and should have minimum 2 shareholders at a time. A Public Limited Company has no restriction on the maximum number of shareholders and but minimum number of shareholders must be 7.
Memorandum & Articles of Association : The Memorandum of Association (MOA) states the main, ancillary or subsidiary along with other objects of the proposed company. The Article of Association (AOA) covers the rules and procedures for the routine conduct of the proposed company, the authorized share capital of the proposed company and also the names of its first or permanent directors. Thereafter, both MOA and AOA are required to be stamped.
A stamp duty, depending on the authorized share capital, is to be paid on both.
Share Capital : Shares should be expressed in fixed amount. Shares like "No par value" or "bearer" are not permitted and the shares to be subscribed should be expressed in Indian rupees.
Accounts & Auditors : Each company is suppose to appoint an auditor annually at its AGM. The auditor must be qualified by virtue of the Institute of Chartered Accountants of India Act 1949 and should be completely independent of the concerned company. The audited accounts of the concerned company serve as a tool for various stakeholders like creditors, investors, bankers and revenue authorities.
Public Filings: The names and all the required personal details of the directors and secretary, share capital, register of charges, registered office address, and other such particulars should be filed with the Companies Registry for any public inspection upon incorporation and if there is any change thereafter.
Annual Meetings: An Annual General Meeting (AGM) is mandatory to be held once in every financial year and not more than 6 months after the end of the financial year. For a new company it is not required until 18 months of its incorporation.
Documents required to be executed for incorporation
The following documents are required to be executed (signed) before they are submitted to the ROC:
MOA and AOA - These are required to be executed by the promoters in their own hand in the presence of a witness in quadruplicate stating their full name, father's name, residential address, occupation, number of shares subscribed for, etc.
Form No. 1 - This is a declaration to be executed on a non-judicial stamp paper of INR 20 by one of the directors of the proposed company or other specified persons such as Attorneys or Advocates, etc. stating that all the requirements of the incorporation have been complied with.
Form No. 18 - This is a form to be filed by one of the directors of the company informing the ROC the registered office of the proposed company.
Form No. 29 - This is a consent obtained from all the proposed directors of the proposed company to act as directors of the proposed company. (Not required in case of private company).
Form No. 32 - This is a form stating the fact of appointment of the proposed directors on the board of directors from the date of incorporation of the proposed company and is signed by one of the proposed directors.
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