The term compliance describes the ability to comply with orders, set of rules, or requests. … All companies registered in India like a private limited company, one person company, limited company, and section 8 company need to maintain the annual compliances like annual returns and income tax return each year.

Compliance in business refers to following the relevant laws and regulations for your industry. That means more than just the basic rules about taxes and accounting. Depending on what industry you work in, you might have to comply with large, complex sets of laws that have a significant impact on your operations.

What is the Annual Compliance for Private Company? … For every company, it is compulsory to file an annual return and audited financial statements with MCA for every financial year. The RoC filing is mandatory irrespective of the turnover, whether it is zero or in crore.

A company comes into existence is generally by a process referred to as incorporation. Once a company has been legally incorporated, it becomes a distinct entity from those who invest their capital and labour to run the company. … Such a person is called the promoter of the company.

Minimum authorized capital of Indian Rupees 100,000 (US $ 2250 approximately) is required to form a private company in India. … Certificate of Incorporation: This is the document, which the registrar of companies issues to you once he has approved your choice of name and your memorandum.

The first step within the incorporation of an Associate in the company is to decide on an applicable name. … The name of the corporate is explicit within the memo of association of the corporate. The company’s name should finish with ‘Limited’ if it’s a public company and ‘Private Limited’ if it’s a non-public company.

Yes, NRIs, foreign nationals and foreign entities can register a company and invest in India, subject to the Foreign Direct Investment norms set by the RBI. However, incorporation rules in India require for one Indian national to mandatorily be a part of the company on the Board of Directors.

Whilst there are no real legalities as to how much time you have to set up your limited company after you have begun trading, it is recommended that you should have registered at least six months before the new tax year (April).

Legally registering a new company means establishing the business entity with the proper agencies, obtaining all required tax and permit information and maintaining the proper insurance coverages for the business and its employees. Each state and county has different requirements for different business entities.

While registration is not mandatory but registering a firm generates a few rights on the firm and on its partners, which a non-registered firm does not has. Each structure has a different procedure for registration and essential factors need to be taken into consideration while choosing the Legal structure of a Firm.

There is no any formal procedure for registering a sole proprietorship Law Firm in India. This can be by opening a bank account in the name of Proprietorship Firm or by obtaining the licenses required for doing a business. You can also start a law firm in Partnership.

There is no restriction requiring mandatory company based on sales turnover or capital contribution. Hence, a business with any amount of turnover or capital can be operated as a Proprietorship or Partnership or Limited Liability Partnership or Private Limited Company.

Procuring Form 16 is easy, if you’re an employee. The employer or the entity that deducts your Tax Deducted at Source (TDS) is legally bound to issue Form 16 by May 31. Employees with an income of less than Rs. 2,50,000 for the Financial Year, are exempted from income tax.

Is LIC Plan a good investment? Yes, LIC offers best life insurance plans. If you are looking for investment and protection option under one product, you can consider Endowment or Unit Linked Investment Plan (ULIP) as per your risk appetite and financial objectives.

Is a private limited company or registered as a partnership firm or a limited liability partnership. Has an annual turnover not exceeding Rs. 100 crore for any of the financial years since incorporation/registration.

when you start the business that time you take the risk on the personal level but on the later stage when your business is growing that time you can’t take the too much risk on personal level so you need the limited liability in the business so for this reason you have to always register your startup in India.

Application for Startup India Certificate of Recognition should be filed by the Startup on its own, using own details/ mobile No./ email. Ministry of Commerce and Industry does not charge any fee for DPIIT Certificate of Recognition for Startups.

It is an 8-digit unique identification number that has lifetime validity. Through DIN, details of the directors are maintained in a database. DIN is specific to a person, which means even if he is a director in two or more companies, he has to obtain only one DIN.

Director Identification Number (DIN) is a mandatory requirement for all existing and new directors (or proposed directors) of a company. A DIN number is issued under the directions provided by the amendment to the Companies Act. It is an 8-digit Unique Identification Number allotted to all directors.

Any person (not having DIN) proposed to become a first director in a new company shall have to make an application through eForm SPICe. The applicant is required to attach the proof of Identity and address along with the application. DIN would be allocated to User only after approval of the form.

Digital Signature Certificates (DSC) are the digital equivalent (that is electronic format) of physical or paper certificates. … Likewise, a digital certificate can be presented electronically to prove one’s identity, to access information or services on the Internet or to sign certain documents digitally.

Why do I need a Digital Signature Certificate? A Digital Signature Certificate authenticates your identity electronically. It also provides you with a high level of security for your online transactions by ensuring absolute privacy of the information exchanged using a Digital Signature Certificate.

Individuals and entities who are required to get their accounts audited have to file their income tax return compulsorily using a digital signature. Furthermore, the Ministry of Corporate Affairs has made it mandatory for companies to file all reports, applications, and forms using a digital signature only.

A user will generate the digital signature and another user will verify the signature using the verification process. Both the signer and the verifier have a public and private key that they use to complete each process. … In this sense, anyone with the public key can verify the signed message using the public key.