A.Proprietorship/Partnership Firm

1.Proprietorship Concern –

An individual who wants to start a new business of any kind,needs to form a firm called as Proprietorship concern.There are no regulatory bodies as such which governs this form of business.However, one has to have a trade license (Shop Act registration) to run the business of any category.

For small or midsize or start ups, we suggest one should go with this form of business wherein with less compliance and regulations, functioning of business can be done in a smooth and efficient manner.

As the saying goes “With great power comes great responsibility”, any proprietorship concern is led by a single individual and hence the liability rests with the individual only for any acts or doings towards the business.

We feel there should not be any obstacle in one’s way while starting a business when it comes to basic formalities and procedures.At Oditorz, one can easily get the trade license and other related registrations at a very reasonable rate.

What all does it cover? 

• Application for Trade license
• Objection Handling, if any
• Follow Up with concerned authority
• Registration Certificate Handover.

Documents Required :-

• Address Proof – Light Bill in the name of Proprietor (Rent Agreement copy in case of rented place of business)
• KYC of Proprietor – PAN Card copy, Aadhar Card Copy
• Nature of Business
• Proposed Business name
• Mobile No. and Email id of Proprietor
• One Passport size Photograph of Proprietor.

2.Partnership Firm Registration –

This is a very commonly found form of business in India.Under this, business can be formed with two or more partners.It is governed by the Indian Partnership Act,1932.Partners share profit/losses as per the agreement/deed entered into between    them.Also, partners are required to infuse capital in the form of funds or in kind towards their contribution in the business.There is no fixed ratio for the capital infusion, however, in normal parlance, capital contribution is made in the same ratio as for sharing profit/losses.We at oditorz help you get the registration for partnership to start the business.            

What all does it cover? 

1.  Application for Registered Partnership
2.  Follow Up with concerned authority
3. Registration Certificate Handover.

Documents Required :-

• Identity proof/address proof of Partners
• Certified a true copy of the Partnership deed entered into.
• Proof of the principal place of business.

As identity and address proof of the Partners, any of the following two documents can be submitted:

• PAN Card
• Passport
• Drivers License
• Aadhar Card
• Voters ID

Proof of the principal place of business can be established by submitting the following documents:

• Sale deed in case one of the Partner owns the place of business
• Rental agreement copy if the premises are rented
• Copy of latest electricity bill or water bill or property tax receipt.

B.Company/LLP Formation

1.One Person Company Formation(OPC) –

OPC can be registered only as a private company which means that all the provisions applicable to a private company will be applicable to an OPC, unless otherwise expressly excluded in the Act or rules made there under.

OPC is different from Sole Proprietorship in various manners.An OPC is governed by Companies Act 2013 while this is not the case with proprietorship.Also, OPC is a separate legal entity means the liability of the director is limited to his/her share in the company whereas in proprietorship concerns, owner has complete responsibility and liability towards any act done under the name of business.

Hence, nowadays, to avail those benefits of limited liability, separate entity, etc, one wants to form OPC rather than proprietorship firm.As we say, there are pros and cons in every form of business.One needs to decide which form will suit the nature of business and considering the scalability of same.

We at oditorz help you form OPC and time to time compliances at effective pricing and with complete guidance.

What all does it cover? 

1. Availing DSC for one subscriber
2. Name reservation
3. Incorporation procedure to be completed.
4. Certificate of Commencement of business.
5. Post incorporation compliance – Issuing share certificates, preparation of statutory register, appointment of first statutory auditor.

Documents Required –

In all the above form of incorporation/ formation, following basic documents are required :-

• Identity proofs – PAN, Passport, Driving License, Voters ID
• Address proofs – Utility bills like telephone, mobile and electricity bills, voters id.
• Bank statement are required for Directors and subscribers
• Photographs of actual office, inside and outside premises
• Mobile no and email id of Company 
• Address and ID proofs of Director/Designated Partners to be self certified 

2.Limited Liability Partnership Formation (LLP) –

This is a type of constitution where the liability of partners are limited towards the business unlike Partnership Firm.It’s a kind of corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in a flexible, innovative and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership.In today’s business atmosphere with huge volatility, people are inclined towards this form of business to keep the things under control.

At Oditorz, with help of our experts, we help clients form LLPs in a very efficient and hassle free manner.

What all does it cover? 

• DSC of one applicant minimum
• Name reservation
• Incorporation of LLP by filing signed documents of partners/ designated partners
• Preparing and filing of LLP Agreement post incorporation.

Documents Required –

In all the above form of incorporation/ formation, following basic documents are required :-

• Identity proofs – PAN, Passport, Driving License, Voters ID
• Address proofs – Utility bills like telephone, mobile and electricity bills, voters id.
• Bank statement are required for Directors and subscribers
• Photographs of actual office, inside and outside premises
• Mobile no and email id of Company 
• Address and ID proofs of Director/Designated Partners to be self certified. 

3.Private Limited Company Formation (Pvt.Ltd) –

This is similar to OPC wherein a company is formed with minimum two directors( one in case of OPC) and maximum 50.This form of constitution is easy to form as the minimum number of directors required is only 2.Indian Companies Act 2013 governs the rules and regulations of private companies.It has privilege over other forms of company in a way that it can commence the business immediately after getting incorporation certificate however same is not the case with others.There are many more advantages of having a private limited over others as it is exempted from some stringent policies and rules of governing body.

Registration with the registrar of companies is must after the name approval and other processes.

What all does it cover? 

• DSC of one applicant minimum
• Name reservation
• Incorporation of company and getting commencement certificate
• iv) Issue of share certificates, preparation of statutory register and appointment of first statutory auditor.

Documents Required –

In all the above form of incorporation/ formation, following basic documents are required :-

• Identity proofs – PAN, Passport, Driving License, Voters ID
• Address proofs – Utility bills like telephone, mobile and electricity bills, voters id.
• Bank statement are required for Directors and subscribers
• Photographs of actual office, inside and outside premises
• Mobile no and email id of Company 
• Address and ID proofs of Director/Designated Partners to be self certified 

ADDITIONAL COMPLIANCES UNDER COMPANIES ACT, 2013 –  

Once formation of LLP/private limited company/ OPC is done, one needs to adhere to additional compliances required by the law as and when the circumstances arise.Few compliances are mandatory to be complied with under Companies Act 2013.

We at oditorz aim to make the life of our clients easy and hassle free by rendering start to end services with the help of our experts.

• Changes in Directorships (Appointment of Directors, Changing designation of an existing Director, Cessation of Director due to resignation, death, disqualification etc.)
• Increase in authorized share capital independently by the Company
• Change of name of Company not involving change in the objects of Company
• Change of name involving change in object clause.
• Alteration in object clause
• Annual Filing of Balance Sheets and Annual Return (small cos.)
• Annual Filing of Balance Sheet and Annual Return (big cos.) having MGT 8
• Annual Filing of Balance Sheet & Annual Return having XBRL and MGT 8 (Non IND AS)
• Annual Return and Balance Sheet filing of LLP
• Change in Statutory Auditors
• Company KYC
• Director KYC and Web KYC every year

For availing any of the above services, kindly request a call back from us.