A sole proprietorship is a type of unregistered business entity that is owned, managed and controlled by one person. Sole proprietorship is the most common type of business in India and it is used by most micro and small businesses operating in the unorganised sectors. Proprietorships are simple to start and have minimal regulatory compliance requirements for operating.

A Partnership firm is a business entity created by persons who have agreed to share profits or loss of the business. Partnerships are a very good choice of business entity for small enterprises wherein two or more persons decides to contribute to a business and share the profits or losses. In India, Partnerships are widely prevalent because of its ease of formation and minimal regulatory compliance.

One of the biggest advantages of a One Person Company (OPC) is that there can be only one member in an OPC, while a minimum of two members are required for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership (LLP). Similar to a Private Limited Company, a One Person Company is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder, while having continuity of business and being easy to incorporate.

LLP is one of the easiest types of business to incorporate and manage in India. With an easy incorporation process and simple compliance formalities, LLPs are preferred by Professionals, Micro and Small businesses that are family-owned or closely-held. Since LLPs are not capable of issuing equity shares, LLP should NOT be chosen for any business that has plans for raising equity funds from Investors, or Private Equity Funds.

Private Limited Company is the most popular type of business entity in India. Over 20 lakhs companies have been registered in India as of October 2020 and 12 lakhs companies are classified as active. All companies registered in India are governed by the MCA (Ministry of Corporate Affairs) under the Companies Act, 2013. Each year Taxzilla helps register Hundreds of companies across India. The company registration process can be completed online on Taxzilla in less than 10 days with assistance from experienced incorporation experts.

Incorporating a Public Limited Company is a suitable option for large scale businesses that require huge capital. There should be a minimum of seven members with no limit on maximum number of members/shareholders for starting a Public Limited Company. Usually, Public Limited Companies get listed with stock exchanges to raise capital from the general public. This is why Public Limited Companies have to comply with multiple regulations of the government and starting a public limited company becomes a cumbersome process.

The first step in starting a new business is the ideation stage. At this stage, the entrepreneur would look for ideas to start a new business and firm up his plans. Thereafter, the related market, details of the product/ service offered, existing competition, manpower availability, funds, infrastructure etc. must be thoroughly researched on. The business idea would be built on the research undertaken and eventually the plan of action drawn out.

Udyam Registration is the new process of MSME Registration launched by the the Ministry of Micro, Small and Medium Enterprises on July 1, 2020. MSME registration is a certificate provided to micro, small, medium-sized businesses in India under the Micro, Small and Medium Enterprise Development Act, 2006 (MSMED).

Best for social works, minimum 2 Directors Required. Name Reservation, 1 DSC, Company PAN & TAN, MOA & AOA, Incorporation Certificates. We at Taxzilla Accounts Solutions will register NGO/Trust/Society Registrations for our clients.

The shop and Establishment Act registration is one of the mandatory requirements of all businesses which operate from an establishment or shop. Any changes made in the details or the closure of such establishment needs to be initiated to the inspector within 15 days of the said change or closure.

The Municipal/Corporation Registrations are mandatorily required for all the shops, Businesses.

A place of business within a State, Corporation or Municipality will require a trade license from the concerned State Government or Corporation or Municipality for operating. Rules and regulations pertaining to trade license varies from state to state. Hence, to obtain trade license, the applicant must first understand the jurisdiction under which he/she is operating the business and the applicable Act.

Registrar of Companies maintains a registry of records concerning companies which are registered with them and allows the general public in accessing this information on payment of a stipulated fee. The Central Government preserves administrative control over the Registrar of Companies with the help of Regional Directors. As of today, there are seven Regional Directors, supervising the operations of ROCs within their relevant regions.

There is a lot of interest among foreign companies to start their operations in India and tap into one of the largest and fast-growing market, and have access to some of the best human resources in the world. A Foreign National (other than a citizen of Pakistan or Bangladesh) or an entity incorporated outside India (other than entity incorporated in Pakistan or Bangladesh) can invest and own a Company in India by acquiring shares of the company, subject to the FDI Policy of India. Also, a minimum of one Indian Director who is a Indian Director and Indian Resident is required for incorporation of an Indian Company along with an address in India. Taxzilla can help you register an Indian Subsidiary while also providing Nominee Directors and Registered Office service in India.

Nidhi Companies in India are created for cultivating the habit of thrift and savings amongst its members. Nidhi companies are allowed to borrow from its members and lend to its members. Therefore, the funds contributed to a Nidhi company are only from its members (shareholders). Hence, Nidhi companies are mainly used to cultivate a habit of savings amongst a group of people.

The Companies Act defines Producer as any person engaged in any activity connected with or relatable to any primary produce (Produce: “things that have been produced or grown, especially by farming”). A Producer Company is thus a body corporate having an object that is one or all of the following, production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit.

In India, a non-profit organisation 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. A Section 8 Company is the same as Section 25 company under the old Companies Act, 1956. Under the new Companies Act 2013, Section 25 (as per the old Act) has now become Section 8.

Taxzilla Accounts Solutions can help you register a C-Corp or LLC in the USA right from India in less than 5 working days. Get a free consultation on USA company registration and business setup in USA by scheduling an appointment with an Taxzilla Accounts Solution Advisor.

Trading companies are businesses working with different kinds of products which are sold for consumer, business, or government purposes. Trading companies buy a specialized range of products, maintain a stock or a shop, and deliver products to customer.

Government e-Marketplace (GEM Registration) an online platform for public procurement was launched by the commerce ministry in August 2016. The government has made it mandatory for all the government departments and ministries to source goods and services from its e-marketplace.

We are a team of IT Professionals and Accounting Experts started Consultancy Services with a vision to help MSME, and small businesses to grow their business with the government, semi-government, and public sector organizations.