How to Register a Partnership Based Startup in India

Are you looking to initiate a partnership-based Startup? Do you it's the registration process? Do you know that the registration of a partnership business is optional in India? If not, then don't worry. We will share with you some important tips to move in this direction.

 

Even though registration of a partnership business is not mandatory, there are several benefits you can get after doing so. Let's have detailed information about it:

 

Steps by which you can start a partnership-based Start-up in India

 

If you want to list your business as a partnership Startup, you have to follow some steps to enlist an association firm.

 

Step I – Select the name of the business: The first step to follow is to make sure that the business name you are choosing is unique and doesnot match any other firm name. You can check it by visiting the ministry of corporate affairs (MCA) official website, you can enter the name which you have decided to put in and can easily find out its duplicate name with a single click.

 

Step II - Draft your partnership deed: You should mention some important details as mentioned below:

 

1. Firm Name including the partner's name.
2. In what percent partners have contributed to the firm.
3. Salary payable to the overall staff.
4. The ratio of P&L among the partners.
5. The process which should be followed if a partner retires or dies.
6. The duties are followed by every partner.

 

Step III –Implementation of the partnership deed: Once you mention the above-given point, you need to take the signature of every partner and the witnesses.  The stamp duty should be given as prescribed by the Stamp Act of the concerned state and must be executed on stamp paper. The deed must be notarized after the payment is done.

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How to incorporate a private limited company in India

 

A private limited company is the most popular form of organization in India. Start-ups prefer this because it helps in getting seed funding and issue ESOPS. As they are legal entities, they need registration and are subject to a few rules for annual filing and for the payment of taxes. There are certain registration steps to incorporate a Private Limited Company, it varies from country to country on how one needs to register.

 

Registering a business may seem like an intimidating process, but it's not that complicated. 

 

Every business must register itself as part of mandatory legal compliance. First, you need to choose a business structure while applying. You will also need to check for the name availability of your company. One also needs to have documents like Proof of Identification, Proof of address, Rental agreement, etc... 

 

Now-a -days, registering a company in our country is a simple 4-step process. At the beginning of the process, you need the DSC (Digital Signature Certificate). As most things are online now, digital signatures are required to fill out forms in the MCA portal. The DSC is mandatory for all proposed directors, memorandums, and signatories. The second step is the Director Identification Number (DIN), which is to be obtained by anybody who wants to be a director, after this the name and the address proof are to be provided in the company registration form. Then, comes the registration on the MCA Portal; for this, the SPICe + form is to be filled and the documents are to be submitted. After registering, the director can log in to access the MCA portal service. This includes submitting electronic forms and viewing published documents. 

 

Lastly, it’s the Certificate of Incorporation, once the registration is done and the documents are submitted, then the application will be reviewed and after that, the certificate is issued. These are some easy steps of registering for a company. Once, all the steps are completed there are some conformances to be followed. There are a lot of benefits of having a private limited company. So that’s how one can incorporate a Private Limited Company in India by only following a few steps and rules. 

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Trademark Registration | Setup company in india

Trademarks are unique identities that can be registered with the regulatory authorities in order to legally protect a product, service, or a business name from not only illegal impersonators, counterfeits, copies, etc. but also from solicitation of unwarranted ownership that is often showcased by third parties on purpose to either willingly encase or to spoil a reputation built by the actual owner of a brand.

Unique identities and expressions can be logos, photographs, slogans, words, color combinations, graphics, etc.

SSI recommends that if you have a unique product name, brand, or logo then the only legal recourse to protect your exclusive ownership rights is to register it as a trademark.

A registered trademark becomes the intellectual property of your business and its registration certificate acts as a protective cover.

In India, trademarks are registered and regulated by the Controller General of Patents, Designs and Trademarks, Ministry of Industry and Commerce, Government of India. You can register your trademark under the provisions of The Trademark Act, 1999.

 

A registration certificate once obtained is valid till 10 years from the date of registration and provides the owner a right to sue the entities who try and copy a registered trademark.

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Business Management sevices | Accounting & Bookkeeping

 About This Plan

SSI provides a year-round comprehensive bookkeeping solution to suit all your accounting needs. Proper accounting helps in establishing an effective financial ecosystem and helps you manage your budgets, fund flows, payables, receivables efficiently and effectively.

 

Regular maintenance of books of accounts is a statutory requirement for all business entities. Further, it is mandatory for firms undergoing statutory or internal audits as per the regulatory norms of several governmental bodies.

 

Because most startups, initially do not need a full-time dedicated accountant as the volume of transactions is low and at times it is not even economically feasible to hire one, SSI has specially curated this service package to fulfill all your accounting needs.

 

How can you benefit by outsourcing bookkeeping/ accounting services to SSI?

 

In today’s time with excellent access to online traceable communications, outsourcing core information-related business activities like accounting/ bookkeeping are considered and categorized as Knowledge process outsourcing wherein qualified professionals undertake assignments that require advanced analytical and technical skills as well as a high degree of specialist expertise.

 

We, at SSI, put in place rigorous internal control and quality assurance systems, wherein your industrial activities are studied in detail, and services such as accounting, and bookkeeping are carried on keeping in mind relevant:

 

1. Accounting standards (IND-AS)
2. Guidance notes issued by ICAI, and
3. IFRS, wherever applicable.

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Experts’ reaction to RBI Monetary Policy Committee Announcements

Venkatraman Venkateswaran, Group President & CFO, Federal Bank Ltd

The very clear message from RBI comes as a continuation to the commencement of normalisation about a month back. The 10-year bond yields have moved from 6% to 6.20% in the last two months. The extension of the liquidity facility won’t make much of a difference in the present situation, given the fact that banks still have not fully utilised the existing limits. Liquidity thus is not a matter of concern at this point. Credit off-take is still tepid. Accommodating & supporting growth is crucial and so has RBI prioritised growth over inflation. Gradual & steady calibrated liquidity withdrawals would continue.

Vikash Khandelwal, CEO, Eqaro Guarantees

The RBI has been doing the heavy lifting to bring back the economy on track since the pandemic struck last year. It has announced more than 100 measures to support growth. The move to extend TLTRO till December will further aid growth. Over the high-frequency indicators, normal monsoon, and steady pace of vaccination indicates the RBI estimate of 9.5% growth for FY22 is achievable. The decision by the RBI to keep key rates and the unchanged ‘Accomodative’ policy stance was on expected lines. Easy liquidity will help businesses, especially the MSMEs at a time when demand is recovering. The governor has allayed concerns on inflation as well.’’

Manoj Gaur, CMD, Gaurs Group, and Vice President – North, CREDAI National

“The unchanged repo rate decision by the RBI is on the expected lines; the Apex bank maintained the accommodative stance that is the need of the hour. However, the real estate sector has been expecting sector-specific measures that could trigger healthy growth. Although the government has taken some steps to help the sector in recent months, additional reforms are required to allow the sector to thrive. The upcoming festival season will likely bring in more demand, and we are hopeful that the low home loan interest rate will make the buyers go for real estate assets”.

Vikas Wadhawan, Group CFO, Housing.com, Makaan.com and Proptiger.com

On widely expected lines, the RBI on August 6 decided to maintain a status quo on key policy rates. The decision of the RBI MPC augurs well for the real estate industry in general and home buyers in particular since the record low-interest rate regime would enable a large number of buyers to invest in property. Since homebuyer sentiment has already improved in recent times, based on an increase in housing affordability in India, the RBI move will prompt buyers and investors to put their money in secured assets like real estate. The extraordinary liquidity support the RBI has provided to the economy in the aftermath of the coronavirus pandemic is highly commendable.

Pradeep Aggarwal, Founder & Chairman, Signature Global Group, Chairman, ASSOCHAM, National Council on Real Estate, Housing and Urban Development

We appreciate the apex bank’s continued accommodative stance. Real estate has made a strong demand for low house loan interest rates, and the RBI has helped the sector by maintaining the status quo. We recommend that customers take advantage of the current scenario because, in the future, prices may rise due to higher raw material costs. Know more...

Company Registration in India

 

If you are planning to start business in India, the first &the foremost step is to establish the legal presence of your business in India by registering it in accordance to the applicable provisions of Companies Act, 2013.

Thinking why to choose Company Registration in India? Company Registration in India will boost the progress of your business and provide an additional edge over those who have not registered.

• Shields from personal liability and protects from alternative risks and losses.
• Attracts more customers
• Procures bank credits and good investment from reliable investors with ease.
• Offers liability protection to protect your company’s assets
• Greater capital contribution and greater stability, increases the potential to grow big and expand
• You will also get Zero Balance Current Account

Why Setup Services India to help you in Registering your Company in India?

The Company Registration process is completely online, so you don’t even have to leave your home to get your entity registered. Our highly qualified professionals ensure that not even a single client at SSI is ever bothered to participate in a cumbersome procedure(s) while doing their business; we take this as our responsibility to solve the complex trails of statutory compliances for you to save your time and effort in doing your business. Want to know more OR have any doubt?? Request a Call Back!

Long term vs short term capital gains tax: Here are key things you should know

 

Asset creation is a goal that most of us strive for throughout our lives, working hard to accumulate assets that will enable us to live a stable and comfortable life. Asset generation and distribution are often governed by laws in a social society, with the government maintaining track of them.

 

The income tax department in India keeps a close eye on assets, and asset owners must pay tax on the assets they own. The purpose of owning assets is to derive financial benefits from them, which can be obtained through sale or lease/rent.

 

 

What is a capital asset as per the law?

 

 

As per Section 2(14) of the IT Act, 1961:

 

Capital Assets have been defined as a property of any kind held by an assesses (Taxpayer) whether connected with his business or profession or not.

 

But excludes the following to be assessed as capital assets:

 

(i) Any stock-in-trade and raw materials held for the purposes of his business or profession

 

(ii) Personal effects, i.e., to say, movable property (including wearing apparel and furniture, but excluding jewellery, archaeological collections, drawings, paintings, sculptures and any work of art) held for personal use by the assesses or any member of his family dependant on him

 

(iii) Agricultural land in India not being situated within the jurisdiction of a municipality or within 8 km. of a municipality as may be notified

 

(iv) Gold bonds

 

(v) Special Bearer Bonds, 1991; and

 

(vi) Gold Deposit Bonds.

 

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