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PRIVATE LIMITED FORMATION Description The Private Limited Companies are those companies which are managed privately by a group of individuals, and are not entitled to offer their shares to the public, or trade on the stock exchanges, as is commonly done by the public limited companies. Our most well-known and popular company registration services in India and abroad, have been the lavish services for the private limited company registrations. Individuals and companies engaged exclusively in the activities of various economic sectors in India and other countries worldwide can easily and promptly avail our company registration services for all types of companies. We are offering to our Indian and global visitors, all necessary and precious information about the formation and registration of the private limited companies in any part of India. Our full-fledged, full-service, and globally well-connected law firm of India has been extending solid and superb legal services in all major areas of the law for a long successful and enriching spell of time, essentially including the services for the intellectual property laws, company law, foreign direct investment, corporate restructuring, international business, and business regulating and compliance services. Why Private Limited Company? Ease of Formation: A Private Limited Company can be incorporated with minimum 2 directors by filing Spice E Form INC-32 along with link form Spice MOA (INC-33) and Spice AOA (INC-34). Once the documents get verified, certificate of incorporation has been issued by MCA within 2 to 3 days. Limited Liability: The greatest benefit of Private Limited Company is limited liability. If any liability arises then its member is not personally affected; members are only liable for unpaid shares held by them and not more than that. Stakeholders are not liable for corporate debts and liabilities Minimum Compliances: Private Limited Company enjoys enhanced transparency thus able to win the trust of general public. Investment: Flexibility to raise investments or loans from NRIs and Foreigners. Easy to raise investments and corporate loans Greater Flexibility: A Private Limited Company is required to perform lesser legal formalities as compared to a Public Limited Company. It enjoys special exemptions and privileges under the company law. Therefore, in Private Limited Company, less number of compliance is required. Secrecy: A Private Limited Company is not required to publish its accounts or file several documents. Therefore, it is in a better position than a public company to maintain business secrets. Separate Legal Entity: The biggest advantage of a Private Limited Company is that its identity is distinct from that of its members. A company is a separate person having its own rights & Obligations. Perpetual Succession: In case of death of the owner or transfer of shares, your business won’t get affected. There will be no effect on firm’s continuance.
LIMITED LIABILITY PARTNERSHIP: -------------------------------------------- A Limited Liability Partnership (LLP) is a form of separate legal business entity that gives the benefits of limited liability but allows its members the flexibility of organizing their internal structure as traditional partnership. It is governed by the Limited Liability Partnership Act, 2008. In LLP, unlike company, the designated partners have a direct relationship between owner and management. You will have protection of a registered company; one partner will not be liable for any misconduct or negligence of another partner. LLP can operate not according to Company’s Act, 2013 but as per the LLP agreement formed at the time of its incorporation. At Taxteam, we will make the process of incorporating Limited Liability Partnership very smooth and easy.
We are able to offer best quality Tax Consultant Services. We undertake Regulatory compliance such as documents preparations and statutory returns, compilations, and e-filings with the revenue authorities. We also help our clients in the preparation of tax returns so as to ensure compliance with different acts and the other judicial pronouncements. Our services are widely demanded their reliability, flexibility and on-time execution.
LIMITED LIABILITY PARTNERSHIP:- ----------------------------------------------  Introduction: Limited Liability Partnership is a hybrid of Partnership and Limited Company. It has the simplicity of the partnership. It has taken the virtues of a Company i.e. Limited Liability, perpetual existence, no restrictions regarding number of partnerIn view of the potential for growth of the service sector, requirement of providing flexibility to small enterprises to participate in Joint Ventures and agreements, the formation of LLP’s should be encouraged. One more development is that Foreign Direct Investment is allowed in Limited Liability Partnership.  Advantages Of LLP: Low set-up cost – LLP has no authorized capital requirement, significantly lowering the cost of setting up as compared to a Private Limited Company. Limited Liability– Personal assets of partners are safe; a liability of LLP is limited to the assets of LLP Minimal Compliances– Unlike in private Limited Company, no audit is required in LLP. An LLP’s accounts are required to be audited only if it has turnover greater than₹ 40 lakhs or capital contribution of over ₹ 25 lakhs. Tax Advantages – LLP offers some important advantages over a private limited company. For example, Dividend Distribution Tax and tax surcharge are not applicable; hence fewer taxes have to be paid. Loans to partners are also not taxable. Separate Legal Entity – An LLP is a legal entity and a juristic person established under the Limited Liability Partnership Act, 2008. Legal Requirements:  Minimum 2 designated Partners  No mandatory Minimum Capital Requirement  At least one Indian Resident as Designated Partner  DPIN for all designated Partners Documents Required: Scanned Copy of the Following Documents has to be Provide by the Promoters of the Company:  PAN card copy with Self attestation.  Voter Id copy or Passport copy or Aadhar card copy or Driving license copy with self-attestation.  Latest Bank account statement or Mobile /Telephone bill or Electricity Bill (not older than two months)- no need for self-attestation.  Latest passport size photo in jpg.  For the registered office proof of the company, if the property is rented/ leased, then copy or rental agreement or lease agreement.  Copy of Electricity bill or Property Tax receipt or Water Tax receipt not older than two months.  Copy of No objection certificate from the owner of the property.  If owned property, copy of Sale Deed and Electricity bill is sufficient.  In case of NRI or Foreign national, Passport copy has to be notarized at the Indian Embassy of the particular country.  Utility bill has to be provided of the particular country where the NRI or Foreign national resides and it should be notarized.
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