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Private Limited Company Registration
Documents Required for Private Limited Company in Delhi | Registration
Documents Required for Private Limited Company in Delhi | Registration

Before heading to Documents Required for Private Limited Company in Delhi Registration, we need to understand the basic requirements to be known before initiating a Pvt. Ltd Company in India;

What are the basic Documents Required for Private Limited Company in Delhi?

  • The company must have a unique name that should not be the same as any other registered company and trademark.
  • It is mandatory for a company to have a minimum of two directors.
  • As well as it is necessary to keep in mind that the company should have a minimum of two shareholders.
  • All directors & members of a company should have a digital signature certificate which will be used to register a Pvt. Ltd. company.
  • There is no minimum capital required for initiating a Pvt. Ltd. company.
  • The process of online company registration is quite simple; make sure that you have a unique name for your company which will surely help you with quick company registration.
  • You must avoid any offensive name for your Pvt. Ltd. company registration

Documents Required for Pvt. Ltd. company Registration

  • Declaration by the subscribers and by the directors
  • A confirmation for the address of the office
  • Two months utility bills copy
  • Certificate of incorporation of the Outer Country body corporate [If applicable]
  • A resolution passed by the global Company [If applicable
  • A recommendation declared by the promotional Company [If applicable]
  • The interest of the directors from other entities [If applicable]
  • Nominee’s assent
  • Identity proof and residential address of the subscribers and the nominees
  • Identity proof and residential address of Applicants
  • The Declaration/Resolution of the unregistered companies
  • DSC(Digital Signature Certificate)
  • Any other document [If required]

Documents Required for Pvt. Ltd. company Registration few requirements known like Acceptable documents for ID Proof, Address Proof, etc.

Note: Acceptable documents for ID Proof listed bellow :

  • Voter ID
  • Aadhaar Card
  • Passport
  • Electricity Bill
  • Ration Card
  • Telephone Bill
  • Driving License

Acceptable documents for Address Proof listed bellow:

  • Bank Statement
  • Electricity Bill
  • Mobile Bill

Know about the Overview and Benefits of Pvt. Ltd. company Registration

If you want to get start, Private Limited Company in Delhi, reach out to Chartered Accountants from CA in Delhi‘s homepage

ROC Compliance In Delhi
ROC Compliance | Private Limited Company | LLP | OPC
ROC Compliance | Private Limited Company | LLP | OPC

Overview of ROC Compliance

ROC Compliance stands for Registrar of Companies which is an office under the Indian Ministry of corporate affairs that deals with the administration of the Companies Act, 2013. Compliance appointed under section 609 of the companies act covering the various States and Union Territories vested with the primary duty of registering companies and LLPs float with respective states, the Union Territories as well as ensure such companies, LLPs comply with statutory requirements under the act.

The office of ROC functions also registry records, related to the companies registered with them, which are available for inspection by members of the public on payment of the prescribed fee. Moreover, there are currently 22 Registrars of companies (ROC) operating from offices in all major states of India.

Besides, the central government exercises administrative control over these offices through the respective Regional Directors. Such as It is important to comply with all compliances applicable to your company to avoid penalties and fines.

Our Legal Raasta team guides you on all the compliances completed, since the incorporation and your ROC Compliance for Private Limited Companies done through Legal Raasta.

What included in the ROC Compliance Package

  • Compliance by Director
  • Board Report
  • Annual Report
  • Statutory Registers update
  • Drafting of Notices
  • Annual Filing and its documentation(AOC4, MGT-7)

Documents required with the ROC every year

1. Form MGT-7- Annual Return

  • Registered office details of the company, particulars of its holdings, principal business activities, as well as associate companies
  • Debentures, share and other securities and shareholding pattern
  • Indebtedness
  • Debenture holders and members along with changes
  • Directors, Promoters, key managerial personnel along with changes
  • Members meeting
  • Director’s remuneration and key managerial personnel;
  • Punishment or penalty imposed on the company, its officers or director, details of compounding of offenses as well as appeals made against such penalty/ punishment
  • Certification of compliances matters
  • A pattern of the shareholding of the company, such as other matters as required in the form

2. Form AOC-4 – Financial Statements & Other Documents

Mostly all companies file their financial statements and relevant attachments using Form AOC-4 each year and Statements of the company not adopted in Annual General Meeting then un-adopted financial statements filed within 30 days of the date of AGM.

On the other hand, if the financial statements are adopted by the company then the adopted financial statements must be filed within 30 days of the AGM. Apart from this, if the company needs to revise the financial statement or Board’s report then revised financial statements can also be filed using form AOC-4.

If you want to get started with ROC Compliance, reach out to Chartered Accountants from CA in Delhi ‘s homepage

Statutory Audit
Statutory Audit | Private Limited Company | Partnership | LLP
Statutory Audit | Private Limited Company | Partnership | LLP

What is Statutory Audit

An audit is an examination of records held by an organization, business, government entity, or individual, which involves the analysis of financial records or other areas. A statutory audit is a legally required review of the accuracy of a company’s or government’s financial statements and records.

To determine organization provides a fair, accurate of its financial position by examining information bank balances, bookkeeping records, financial transactions.

What is the applicable limit for mandatory Statutory Audit?

Statutory audit is governed under the Companies Act, 2013, and Companies (Audit and Auditors) Rules, 2014. For Limited Liability Partnerships (LLP), statutory audit is applicable if turnover in any financial year exceeds Rs. 40 Lakhs or its contribution exceeds Rs. 25 Lakhs.For Private Company/ Public Company, statutory audit ismandatory irrespective of Turnover, profits etc. Even if the company is incurring loss even, a Statutory Audit is Required.

Research the control environment of the organisation

The term ‘control environment’ concerns the integrity, system of values, and basic employees’ attitudes on control and management. Every organization control environment either regulatory guidelines, initiatives competitor, economic trends taking place in the country at the international level. These elements show the competitive strategy or the stand of the company in the market. Every statutory auditor has to research these elements to know more about the controlled environment of the business.

Testing of Internal Controls

A test of controls is an audit procedure to test the effectiveness of a control used by a client entity to prevent or detect material misstatements. Depending on the results of this test, auditors may choose to rely upon a client’s system of controls as part of their auditing activities.

However, if test control weak, the auditors will enhance use of substantive testing, which increases the cost of the audit. The following are general classifications of tests of controls:

  • Reperformance – Auditors may initiate a new transaction, which controls used by the client and the effectiveness of those controls.
  • Observation – Auditors may observe a business process in action, and in particular the control elements of the process.
  • Inspection – Auditors may examine business documents for approval signatures, stamps, or review checkmarks, which indicate that controls have been performed.

The auditor has to rank the control and risks from high to low. It’s done to let the entity know which control measures are effective, providing remedies in order to curb any internal breakdowns.

Statutory Audit of Balance Sheet

A balance sheet audit evaluation of the accuracy of information found in a company’s balance sheet. It involves a number of checks, per the auditor’s balance sheet audit checklist, as auditors conduct this evaluation based on supporting documents. Balance Sheet audit will involve verification of:

  • Share capital and share application money. After Verification, share capital changes, changes are under resolution.
  • Secured loans including the latest bank statements, bank reconciliation statements, and sanctioned letters confirming the rate of interest on the loan
  • Unsecured loans including statements showing acceptance of a loan, rate of the interest confirmation letter, ledger copies from the books of the loan provider
  • Current liabilities and provisions including confirmation copies of the closing balances, the detailed break-up of the sundry creditors, ledger copies of party’s book, detailed notes on the creditors written-off, list of parties to be written-off, detailed provisions standing in the books
  • Dues and returns including copies of TDS paid, TCS paid, VAT paid, Sales Tax paid, excise duty paid, provident fund payable, professional tax paid etc., copies of challans.
  • Fixed assets including copies of invoices showing any addition to the Assets, books showing depreciation working, list of assets not yet accounted in the books
  • Inventories including statements showing valuation of closing stocks, statement of reconciliation and excise records, details of quantity of production and sales on daily basis, input and output ratio of the raw material
  • Investments including list of investment, date of investment and amount of investment made in a year, nature of investment, investments sold in the year.
  • Current assets including list of sundry debtors, cash and bank balance details, details of deposits etc., profit and loss account details etc.

Audit of Profit & Loss Account

  • Compare year-over-year numbers as well as industry benchmarking
  • Look at the margins such as gross profit margin, EBITDA margin, operating margin, net profit margin
  • Conduct Trend analysis to find out whether the metrics improving or deteriorating
  • Look at the Rates of return such as return on equity (ROE), return on assets (ROA)
  • Check the individual breakups of sales and purchases.
  • In the case of direct expenses and indirect expenses concentrate on the agreements like rent, fees, royalty, lease rent, advertisement, other expenses.
  • In this case, preliminary expenses are check treatments showing capitalization in 5 years
  • Minutes of the meeting should be verified showing any resolutions for capitalization of expenses, managerial remuneration, loans, approving donations
  • Any income from investment i.e. interest, the dividend checked with the bank account.
  • Verify the valuation of closing stock whether a closing stock valuation is as per accounting standard-2

Audit of GST

  • Cross verify GSTR 3B with GSTR 1 & GSTR 2A
  • There two important things that will cover under this point
  • The taxpayer to reconcile GSTR 3B with GSTR 2A and ensure the taxpayer is not claiming excess (ITC), if the taxpayer claims ITC excess as well as needs to pay interest, the penalty may be prescribed.
  • In case the GST auditor finds a mismatch between the GSTR 3B – GSTR 2A such as case the auditor needs to direct the management to amend the invoices at summary levels.
  • At auditing, the taxpayer keeps in mind between the invoice date, payment date did not exceed 180 days, to reverse ITC for non-payment.
  • Reconcile e-Way Bills with invoices to determine if there is a bogus entry in the records by the taxpayer.
  • Check all GST returns a file, payments within due dates or not

Audit of TDS

  • The auditor will check all the payments, to See whether it will come under TDS categories or not. Additionally If the company does not pay the TDS of any payment which should be as per the TDS section. He will note this mistake and mention it in his audit report.
  • Vouchers of TDS-related transactions have to be an audit.
  • The auditor will verify all the source documents relating to TDS. If the deductor paid through eTDS, the deductor handles all the documents printed, digital to an auditor for its verification.
  • Reconcile the books with challans and returns.

Some other important checks:

  • If the company pays dividends to its shareholder then check payment as per as prescribed rate and also ascertain interest paid, if there is any delay.
  • Check Provident Fund, ESIC, Gratuity, Bonus, Leave encashment payments Such as Ascertain applicability of provisions of the respective acts, if there is any variation, then report in the Audit report.
  • Check payment /aggregate payments for expenditure by account payee cheque, bank draft, through another electronic mode in excess of Rs. 10,000 or Rs. 35,000 in case of transportation), in a day. If yes, check whether such payments are falling under Rule 6DD
  • Check Company has not received cash in excess of Rs.2,00,000.00 in violation of section 269ST of Income Tax Act, 1961
  • Loan / Advances checked with due care, permitted by Companies Act, 2013, income tax Act, 1961Section 185, 186, 73-76

If you want to get start Statutory Audit, reach out to Chartered Accountants from CA in Delhi‘s homepage

Tax Audit
Tax Audit | Auditing services in Delhi | Due Date
Tax Audit | Auditing services in Delhi | Due Date

What is Tax Audit

The government of India conducts various audits under different laws such as company audit/statutory audit carried out under company law provisions, cost audit, stock audit, etc. Likewise, Income Tax law has made ‘Tax Audit’ compulsory. In tax audit, business accounts, any profession reviewed which makes the process of income computation for filing of return of income easier.

Income Tax Act has made compulsory on the annual gross turnover/receipts if the amount exceeds a specified limit. Chartered Accountant conducts the audit as defined in Section 44AB of the Income T. Act, 1961.

In simple terms, audit of matters related to tax.

Tax Audit Applicability

Section 44AB has made tax audit a mandatory thing for the following persons:

  • Business: Rs 1 Crore: It means an assessed requirement to audit as mentioned in Section 44AB if his annual gross turnover increases Rs 1 Crore in business.
  • Profession: Rs 50 Lakh: It means an assessed has to go under Section 44AB if his annual gross income in profession increases Rs50 lakh.

Presumptive Taxation Scheme-Section 44AD

  • Businesses whose annual turnover does not cross the limit of Rs 2 crore are suitable for this scheme.
  • It is not necessary to maintain books of Accounts U/s 44AD
  • Net income estimated to be @8% of your gross turnover
  • Digital mode of payment used to receive gross receipts
  • Net income calculated as @6% and @8% of gross receipts
  • If assessed Presumptive taxation u/s 44AD, then required to follow the same section of the audit for the next five financial years.
  • You need to file ITR 4 to avail of this scheme

Presumptive Taxation Scheme- Section 44ADA

  • Professions whose annual gross income does not exceed Rs 50lakhs are suitable for this scheme.
  • It is not necessary to maintain books of Accounts under Section 44ADA
  • Net income evaluated to be at @50% of your gross receipt.
  • If Assesse goes for Presumptive taxation under Section 44ADA then he needs to follow the same section of audit for next five financial years.

What should you do to be safe from a Tax Audit?

The motive of indulging in business, professional and crucial to remember that profit should be earned legally and appropriately. Perform the following activities that will result in a healthy Tax Audit:

  • Income Tax Act has made it mandatory for maintaining books of accounts
  • It is necessary to compute profit or gain under Chapter IV
  • Income is taxable or loss allowable
  • In tax return file mention show taxable income and allowable loss

Type of Accounts Come Under Tax Audit

What includes Turnover for Tax Audit?

  • Duty drawback receives after the export sales considered as a part of Turnover in a fiscal year.
  • Income earns out of interests from a money lender or through foreign fluctuation by an exporter regarded as a part of turnover in a financial year or Advance received and forfeited from customers and if excise duty included in turnover it should be debited in the profit and loss account.

What exclude in Turnover for Tax Audit?

  • Sale or Purchase of Fixed Assets
  • Income raised from selling the assets held as investment
  • Rental Income
  • Residential or commercial Property
  • Interest income and reimbursement of expenses as receipt.

Objectives of Tax Audit

  • It makes sure that books of accounts are maintained properly and correctly and certified by the tax auditor.
  • Once methodical verification of books of accounts is done it is necessary to report observation or discrepancies observed by the tax auditor.
  • The main purpose of tax audit is to extract a report according to the requirements of form no. 3CA/3CB and 3CD. Apart from reporting needs of the above forms proper tax audit is also required that will make sure that book of accounts and records are properly maintained as they accurately show the income of the taxpayer and appropriate claim for deductions.
  • Annual audit is both time and money consuming process. Tax audit is necessary for every eligible assesses. Income Tax Act has made it mandatory. In India, tax consultant (Chartered Accountant) conducts Tax Audit.
  • Tax audit can prove financially beneficial for a business.
  • An audit gives credibility to an information published for employees, customers, suppliers, investors, and tax authorities
  • Audit gives assurance to shareholders that the figures in the accounts show a true and fair view.
  • A tax audit helps in building a healthy reputation of the company.

What Constitutes Audit Report?

Tax auditor presents his report in the specified form which could be either Form 3CA or Form 3CB where:

  • Form No. 3CA is presented when a person involved in business or profession is already mandated to get his accounts audited under any other law
  • Form No. 3CB is presented when a person is involved in business or profession does not need to get his accounts audited under any other law

How & when Tax audit, the report furnished?

The tax auditor submits his report online using his login credentials. It is important for taxpayers to provide the details of CA in their login portal. When the auditor uploads the audit report, it then either accepted or rejected by taxpayers in the login portal. If rejected for any reason, then all steps follow again, till the report accepted by the taxpayer.

Due date, by which taxpayer accounts audited

It is required to cover under section 44AB, accounts audit, Obtains report before the 30th September of the current year, the due date of filing return of income.

Types of Tax Audit:

  • The first type is correspondence audit. It is the simplest of all types of tax audits, in this audit, IRS sends a letter to you and will ask for information in relation to a certain area of your tax return.
  • The second type of audit is office audit. In this kind of audit, the auditor will ask multiple detailed questions and will probably consume your whole day, if IRS requires, they will allow you more time to collect and send in required details.
  • The third type of audit is a field audit which is slight a bit inclusive than an office audit. In this type of audit, IRS pays a visit at the house of the taxpayer or their business place of work. They may ask the taxpayer to scrutinize other things as well; their no limit to specific items.

The penalty of non-filing or delay in filing an audit report

If taxpayer fail to audit done punished by following:

  • 0.5% of the total sales, turnover or gross receipts
  • Rs 1,50,000

If you want to get start with Tax Audit, reach out to Chartered Accountants from CA in Delhi ‘s homepage

Advance Tax Due Dates
Advance Tax Due Date | Calculation | Slabs
Advance Tax Due Date | Calculation | Slabs

Overview About the Advance tax and Advance Tax Due Date

Advance tax works on ‘Pay as you earn’ principle.

If your tax liability in a financial year exceeds Rs 10,000, then the government gets very excited and can’t wait till year-end to collect tax. It asks you to pay tax in advance

It receipts help the government to get a constant flow of income throughout the year so that expenses can be incurred rather than receiving all tax payments at the end of the year. For instance: if your advance tax liability for the financial year 2011-12 has exceeded Rs. 10,000, you are expected to pay it in FY11-12 itself.

Advance tax due dates: Who should file it? 

If you are a salaried employee, you need not pay it as your employer deducts tax at source (TDS). It is applicable when an individual has sources of income other than his salary. For instance, if an assessee earns income via capital gains on shares, interest on fixed deposits, winnings from lottery or races, capital gains on house property besides his regular business/salaried income then after adjusting for expenses or losses he needs to pay advance tax.

Please note that advance tax is payable even by salaried employees on their other income.

While employers deduct TDS on salaries, advance tax is paid on income that is not subject to TDS. Professionals (self-employed) and businessmen will have to pay taxes in advance as, given their business income, the liability can be huge. The same implies for companies and corporates.

Payment of advance tax: Self employed and businessmen

Due date of installmentAmount payable
On or before 15th SeptemberNot less than 30% of the tax liability
On or before 15th DecemberNot less than 60% of the tax liability
On or before 15th March100% of the tax liability

Payment of advance tax: Companies

Due date of installmentAmount payable
On or before 15th JuneNot less than 15% of the tax liability
On or before 15th SeptemberNot less than 45% of the tax liability
On or before 15th DecemberNot less than 75% of the tax liability
On or before 15th March100% of the tax liability

Advance tax has to be paid on the 15th of September, December and March— in instalments of 30%, 30% and 40%, respectively—for self employed and businessman. Companies need to pay it on the 15th of June, September, December and March.

How to file it? 

Individuals may pay advance tax using tax payment challans at bank branches authorised by the Income Tax (I-T) Department. It can be deposited with the Reserve Bank of India, State Bank of India, ICICI Bank, HDFC Bank, Indian Overseas Bank, Indian Bank, Allahabad Bank, Syndicate Bank, Axis Bank, Punjab National Bank, Punjab & Sindh Bank and other authorised banks. There are 926 branches in India that can accept tax payments. Individuals may also pay it online through the I-T department or the National Securities Depository.

If you miss the deadline

If you fail to pay or the amount you’ve paid is less than the mandated 30% of the total liability by the first deadline (15 September), you will need to pay an interest. This is computed @ 1% simple interest per month on the defaulted amount for three months.

The same interest penalty would apply if you fail to pay the second deadline (15 December). Failing to pay the third and last deadline (15 March) would mean paying 1% simple interest on the defaulted amount for every month until the tax is fully paid.

What if tax paid is more than required?

If the amount paid is higher than the total tax liability, the assessee will receive the excess amount as a refund. Interest @ 6% per annum paid by the Income Tax department to the assessee on the excess amount if the amount is more than 10% of tax liability.

For any queries, you can reach out to Chartered Accountants listed on CA in Delhi‘s homepage.

FSSAI License Registration
FSSAI License Registration | Eligibility | Documents Required | Fees
FSSAI License Registration | Eligibility | Documents Required | Fees

What is Basic FSSAI Registration

FSSAI License Registration in which FSSAI stands for the Food Safety and Standards Authority of India, which is responsible for the issuance of food licenses to Food Business Operators. It is the apex body incorporated by the Ministry of Health and Family Welfare; Such as the Government of India is accountable for setting up standards for selling, packaging, or storage of food items in India. Additionally, it was set up under the Food Safety and Standards Act, 2006.

Same way all proprietary food units require to get registration/license. Proprietary food means an article of food that has not been standardized under these regulations, but does not include any novel food, foods for special dietary use, foods for special medical purposes, functional foods, nutraceuticals, health supplements and such other articles of food which the central government may notify in this behalf.

It is essential for food business operators like manufacturers, traders, and food store owners to obtain the Registration. Furthermore, there are two types of food licenses depending on the size or scale of the food business, namely, FSSAI License and Basic FSSAI Registration.

Who Requires a Basic Registration?

Every Food Business Operator like hawkers, petty retailers, etc having an annual turnover of upto 12 lacs is under obligation to be registered under the FSSAI Law. Currently, the FSSAI authority is not accepting any registration application for Basic FSSAI License other than any Proprietor/or Proprietary food units. A Food Business Operator must take note that a Basic FSSAI is mandatory if the Business Falls in any below-mentioned Categories.

  • Manufacture
  • Procurement
  • Processing
  • Distribution
  • Storage
  • Packaging

To be more precise and elaborate, any company or an individual that operates with food substances from the manufacturing units to the serving dishes must obtain the Basic FSSAI Registration.

What are the Benefits of Getting an FSSAI License?

Basic FSSAI License is mandatory for anyone who aims to do food business. This not only involves food preparation but also who handles food at various stages before it eventually reaches the customer like –

  • Raw materials,
  • Manufacturing,
  • processing,
  • Mess,
  • Canteen packing and,
  • The distribution as well as the agencies who have authority to sell them.

The benefit of FSSAI License and Registration that help businesses are as given below: –

  • Aware The Consumers : Consumers are becoming more mindful of the nature & quality of their food, which deserves to give many thanks to today’s digital world. Therefore, holding a valid Basic Registration allows for enhancing the level of food credibility and chances of businesses to improve.
  • Ensures Goodwill And Brand Image : The FSSAI logo can ensure goodwill among consumers, which is widely recognized in the food market.
  • Creates Trustworthiness : It makes food as well as quality more reliable and, trustworthy on science-based principles.
  • Rationalization : Streamlines all the processes occupied from manufacturing to distribution as well as the sale of the food products in the market.
  • Maintains Cleanliness And Hygiene : The Important facets of hygiene, cleanliness followed, regulated after the registration completed.
  • Expansion And Growth : FSSAI registration positively influences the production and dependability of the company. Therefore, FSSAI registration gives it a huge chance for a business to expand and grow.
  • Provides Quality Assurance : FSSAI is also liable for setting procedures and guidelines for the attributed labs’ quality assurance as per ISO17025. This enables the customer to think the product is safe to consume in any aspect, as well as it adheres to the guidelines prescribed by the FSSAI Authority.

What is the Checklist Eligibility for FSSAI Basic Registration?

All Small business operators in one state, registered under Basic FSSAI Registration. FSSAI certificate permitted to the state in which the business is located. The eligibility criteria for the basic FSSAI registration are as follows:-

  • Food business operators like wholesalers, dealers, distributors, food sellers, hawkers, bars, restaurants,
  • Food storage units, Dhaba, restaurants, hotels with an annual turnover of upto 12 lakhs.
  • Retailers with operations restricted to sell consumer items.
  • Small-scale manufacturers processing products.
  • Food Manufactures/units.
  • Entities that sell food except the ones serving at any social or religious gathering.
  • The cottage industries related to food.
  • Milk units carrying the dairy processing that have a capacity not surpassing 500 liters per day or have up to 2.5 tons of milk solids annually.
  • Slaughter capacity for not more than 2 large and 10 small cattle, 50 poultry birds per day.
  • Manufacture or refining in solvents and refineries of vegetable oil components, like oil expeller devices. Up to 100 kg/liters (not including milk and meat) per day.

What Documents are Required for Registration?

Following list of documents you would require for the issuance of Basic Registration:

  • FSSAI Declaration,
  • As a copy of identity proof of food business operator,
  • A copy of proof of possession of premise such as rent agreement,
  • and also MOA, AOA, Partnership deed, etc. – depending on the type of entity,
  • Category of food products involved,
  • Also, Plan of food safety management system

Note: Additionally, Documents required For Manufacturers

FAQ- Frequently Asked Question

What is the validity of FSSAI registration?

FSSAI licenses issued to food businesses are valid for a period of 1 to 5 years.

When should I renew my FSSAI license?

It is mandatory to apply for license renewal 30 days before the expiry of the existing license. Non-renewal of licenses can fetch a fine of ₹100 per day until the renewal is done.

What licenses should I get if I have multiple manufacturing units in different states?

The registered office of your company will need a central license. Your manufacturing units will also need individual state licenses for each state they’re in.

Do I need an FSSAI license for the import of food to sell in India?

Yes, you do. You need a central license registered from the address in the import-export code.

Is a license from FSSAI mandatory for the manufacture of food additives alone?

Yes, whether you manufacture, distribute, transport, or trade food additives, you will need an FSSAI license to do it.

Is the FSSAI license needed for a catering business authorized by the central government?

It is mandatory for all catering establishments, even the railways, defense, and airports to get an FSSAI license.

How long does it take to get the FSSAI registration done?

For a basic FSSAI registration, it takes 7-10 days from the day the application is filed. For state and central licenses, it may take up to 30 days to get your license.

What is the function of FSSAI?

FSSAI has been created for laying down science-based standards for articles of food and to regulate their manufacture, storage, distribution, sale, and import to ensure the availability of safe and wholesome food for human consumption.

If you are looking for your FSSAI License Registration, you can reach out to Chartered Accountants listed on CA in Delhi ‘s homepage.

Company Registration In India
Company Registration In India | Documents Required | Fees | Types
Company Registration In India | Documents Required | Fees | Types

Company Registration In India can be done in various forms and can get confusing sometimes. The most confusing question that pops up in mind – whether I should incorporate a private limited company, an LLP (Limited Liability Partnership), or an OPC (One Person Company). Isn’t it? No worries! This article will clear your doubts and un-clutter your mind so that you can confidently go ahead and start taking action.
In this article, we will brief you about each form of business based on which you may dig deeper into the form of company you are interested in:

Different Types Of Company Registration

In the Indian legal system, the system allows various types of companies to exist under different Types of company registration in India and the following are :

Private Limited Company Registration :

A Private Limited Company Registration is a privately maintained small business existence, which is one of the highly recommended to start a business in India. The Companies Act 2013 governs Pvt. Ltd. company registration. While a minimum of 2 shareholders is required to start a private company, the limit of members is 200 Companies Act, 2013.

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Limited Liability Partnership Registration :

LLP Registration is a type of partnership firm which is mostly preferred by the entrepreneur. It is the easiest form of business structure with the benefit of limited liability. LLP registration gives freedom to partners to form a partnership structure where the liability of each partner is limited to the amount they contribute to the business. Limited liability partnership firm registration means that if the partnership fails, creditors cannot ask for the partner’s personal property or income.

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One-Person Company Registration :

A One-Person Company Registration is that has only one person as a member. OPC Registration was introduced to encourage individuals who are capable of starting their own business. As Per Section 2(62) of the Companies Act, 2013, One Person Company means a company that has only one person as a member. One Person Company is bringing the unstructured Proprietorship Business into the structured version of a private company. OPC is opening the path for sole proprietors and Start-Ups.

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Partnership Firm Registration :

A Partnership Firm Registration enables a well-recognized business structure formed with the mutual consent of all the partners for a profitable purpose. The firm is managed, owned, and controlled by a set of people that are known as partners and have some shared capital in the firm. A partnership firm is done under the Partnership Act, 1932 with very little documentation and formalities.

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Sole Proprietorship Registration :

A Sole Proprietorship Registration is owned and managed by an individual. In a sole proprietorship business, there is no legal difference between the owner and the business. To put it in another way a sole proprietorship is not a legal entity, where an is responsible for clearing off the debts of the business. The sole proprietorship is a preferable and popular business form. It is simple and easy to form a nominal cost.

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Section 8 Company Registration :

Registration of Section 8 Company under the Companies Act, 2013 as a Non-profit organization. As we all know NPO can be registered as Trust by executing a Trust deed or, As a society under the Registrar of Societies, or, As a non-profit company under Section 8 Company of the Companies Act, 2013.

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Public Limited Company Registration :

Public Limited Company Registration in which companies enjoy all the rights of a corporate entity with limited liabilities and is an ideal choice for the small and medium scale enterprises who wish to raise equity capital from the general public. Just like other companies, Public Limited Company is also registered as per the rules and regulations of the Companies Act, 2013. It can be incorporated with a minimum number of three directors and has more stringent rules and regulations as compared to a Pvt. Ltd. Company.

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US Company Registration :

The USA is infamously known for being a great business hub. It can enlarge your business and registering your company there would also be a key factor for the success of your business.

For starting a business in the USA, the first step is to start with the company registration process. There are a few steps that need for US company registration. The USA government has given few relaxations to foreign nationals who want to set up a business over there. A foreigner can set up or incorporate a company via online mode either as Inc or an LLC by following a simple procedure. Most foreign nationals are willing to set up a business in the USA, due to its foundational technology, infrastructure, and resources available in the country.

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FAQ – Frequently Asked Questions

What are the rules for picking a name for a private limited company?

The registrar of companies (RoC) across India expects applicants to follow a few naming guidelines. Some of them are subjective, which means that approval can depend on the opinion of the officer handling your application. However, the more closely you follow the rules listed below, the better your chances of approval. First, however, do ensure that your name is available.

How much time is needed for setting up a private limited company in India?

If you have all the documents in order, it will take no longer than 15 days. However, this is dependent on the workload of the registrar.

Do I need to be physically present during this process?

No, new company registration is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.

What documents are required to complete the process?

All directors must provide identity and address proof, as well as a copy of the PAN card (for Indian nationals) and passport (for foreign nationals). No-objection certificate must be submitted by the owner of the registered office premises.

Does a private limited company have continuous existence?

Yes, so long as the annual compliances are met, the private limited company will continue to exist. If you do not comply with the requirements, it will go dormant, until it is struck off the register altogether.

Is it necessary to have a company’s books audited?

Yes, a private limited company must hire an auditor, no matter what its revenues. In fact, an auditor must be appointed within 30 days of incorporation. Compliance is important with a private limited company, given that penalties for non-compliance can run into lakhs of rupees and even lead to the blacklisting of directors.

What are articles of association and memorandum of association?

These documents contain the rules, vision, and mission of your organization, and define, among other things, the exact business and the roles and responsibilities of shareholders and directors.

What is the minimum capital needed to form a private limited company?

There is no minimum capital required for starting a private limited company.

Can the limited liability partnership (LLP) be converted to a private limited company?

No, one cannot convert an LLP into a private limited company as it is not an MCA. The LLP Act, 2008, and the Companies Act, 2013, both don’t have any provisions on the conversion of the LLP is a private limited company. However, if one wants to expand their business they can register a new private limited company with the same name. The LLP company needs to just issue a no-objection certificate.

If there are no partners available, then can one register their family members in the company?

Yes, it is good to register a family member as a partner. At a later stage, one can change this or transfer shares of the directors.

If you are looking for your Company Registration, you can reach out to Chartered Accountants listed on CA in Delhi ‘s homepage.

LUT Registration
LUT Registration Online| Fees | Process | Documents
LUT Registration Online| Fees | Process | Documents

What is LUT Registration

To promote the export of goods or services, the government has provided various reliefs and benefits under GST. Exports help to create employment, achieve a favorable balance of payment situation and boost the economic growth of the country. GST law provides 2 options to exporters:-
1) Export without payment of Taxes by applying for LUT Registration or Export Bond.
2) Export with payment of Taxes and claim a refund later.

Export Without Charging GST Using LUT – Letter of Undertaking

Generally, when an entity exports goods or services, are required to pay taxes. However, the GST law allows taxpayers to claim a refund of these taxes paid.

The GST method also offers an attractive alternative, where the taxpayer can apply for a Letter of Undertaking or Export bonds with the GST department. If the application is accepted by the department then the taxpayer is not required to pay any taxes on export, sparing the efforts for claiming a refund and avoid blocking of funds payment of taxes.

What is LUT Registration – Letter of Undertaking

The Letter of Undertaking (LUT) is a prescribed document to be furnished in Form GST RFD 11 under rule 96A, whereby the exporter declares that he/she would fulfill all the requirements prescribed under GST while exporting without making IGST payment. Any person registered under GST can submit a LUT only if they have not been prosecuted for tax evasion exceeding Rs. 2.5 Crore, or for any other offense under the CGST Act, the IGST Act 2017, or any other existing law. If the exporter does not meet the LUT requirements, his privileges can be revoked and he must leave a deposit.

Please note :

Letter of Undertaking (LUT) is to be filed online before exporting any goods/services.

Benefits Of LUT And Bond

  • Export of good or services without having to pay taxes
  • Avoid the trouble refund of the tax paid on exports
  • Frees up working capital
  • LUT once filed remains valid for a period of 12 months from the date of submission.
  • The entire process of filing LUT, acceptance by the department online. Bond is to be manually by submit to the department.

Documents Required For LUT

In Case Of LUT

  • Previous LUT Certificate
  • GST Login ID and Password
  • DSC of authorized signatory
  • Details of witnesses (Name, Occupation, and Address)

In Case Of Bond

  • GST Form RFD – 11 on the letterhead of the entity
  • Bond on stamp paper
  • Guarantee from Bank
  • Details of witnesses (Name, Occupation, and Address)
  • Authority letter (In case of a company – Board Resolution)
  • Other supporting documents
  • Copy of IEC code
  • Canceled Cheque
  • Pan card
  • Export Invoice

If you want to get started with LUT Registration, reach out to Chartered Accountants from CA in Delhi ‘s homepage

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