Company Formation
 
Steps to be taken to get incorporated a private limited company
Apply for DIN (Director Identification Number) Documents Required: Identity and Address proof and one passport size photo of the proposed directors.[information required about directors are Name, Father's Name, Date of Birth, Nationality, Present Residential address, Permanent Residential address

Apply for Digital Signature Documents Required : Identity and address proof of the any one proposed director

Additional Steps to be taken for formation of a Public Limited Company
Consent of Directors to act as such in Form No.29.
Arrange for payment of application and allotment money by Directors on shares taken or agreed to be taken.

File the statement in lieu of prospectus with ROC in schedule-iv of the Companies Act.
File a declaration in Form-20 duly signed by one of the Director. Obtain the Certificate of Commencement of Business.
 
LLP Formation
 
Pre-requisites for registering a LLP
An LLP should have minimum 2 partners. In case any Body Corporate is a partner, then it will be required to nominate any person (natural) as its nominee for the purpose of the LLP.

Partners of LLP
Every LLP should have minimum 2 designated partners who are individuals and at least one of them should be resident in India.
A person or nominee of a body corporate, intending to be appointed as who is appointed as designated partner of LLP should hold a Designated Partner Identification Number (DPIN) allotted by the Ministry of Corporate Affairs. DPIN can be obtained by submitting application along with address proof and identity proof of the individuals.

Digital Signature Certificate
All forms for registration of LLP shall be filed online after signing digitally and for this purpose, one of the designated partners shall take digital signature certificate.

LLP Name
Selection of business name is crucial for the image of your venture. You select a name which reflects the business you plan. Ensure selected name satisfy LLP Name Guidelines of Ministry of Corporate Affairs.

LLP Agreement
Like partnership, partners of LLP can frame agreement for defining their terms, profit sharing ratio etc. The basic contents of Agreement are, Name of LLP, Name of Partners and Designated Partners, and Form of contribution, Profit Sharing ratio and Rights and Duties of Partners.

In case no agreement is entered into, the rights & duties as prescribed under Schedule I to the LLP Act shall be applicable. It is possible to amend the LLP Agreement but every change made in the said agreement must be intimated to the Registrar of Companies.

Registered Office
The Registered office of the LLP is the place where all correspondence related with the LLP would take place, though the LLP can also prescribe any other for the same. A registered office is required for following purposes. At the time of incorporation, it is necessary to submit proof of ownership or right to use the office as its registered office with the Registrar of Companies.
 
STPI Registration
 
There is a 100% tax exemption U/S 10A of the Income tax Act, 1961 with respect to profits earned by 100% Export Oriented Unit upto 31-03-2009 registered with the software technology parks of India (STPI)

Annual charges for 3 years are payable in advance. At the time of signing the Legal undertaking, the unit is required to pay additional fees as per the turnover achieved if achieved if achieved turnover in more than the projected turnover. Note: Once the legal agreement has been executed then a request letter has to be sent to ht STPI for issue of the Green Card.
 
IEC Code (Import - Export Code)
 
No export or import shall be made by any person without an Importer-Exporter Code (IEC) Number unless specifically exempted. An Importer/Exporter Code (IEC) number shall be granted on application to the competent authority.

An application for grant of IEC number shall be made by the Registered/Head Office of the applicant to the licensing authority concerned in the form specified and shall be accompanied by documents prescribed therein.

An IEC Number allotted to an applicant shall be valid for all its branches/divisions/units/factories as indicated on the IEC number.

Where an IEC Number is lost or misplaced, the issuing authority may consider requests for grant of a duplicate copy of IEC number, if accompanies by an affidavit.

If an IEC holder does not wish to operate the allotted IEC number, he may surrender the same by informing the issuing authority. On receipt of such intimation, the issuing authority shall immediately inform all the RBI/Customs/Licensing authorities that the said IEC number has become inoperative.

If there is any change in the name/address or constitution of IEC holder/licensee/Actual User eligible for import without a licence/recognised status holders, as the case may be, shall cease to be eligible to import or export against the licence/IEC Number or any other facility permitted under the Policy and Handbook, after expiry of 60 days from the date of such change in his name or constitution, unless in the meantime.
 
 
     
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