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What is a Partnership? A partnership is one of the most important forms of business organization. A partnership is when two or more people join forces to start a business and share the profits in an agreed ratio. The business of partnership encompasses all types of trades, occupations and professions. A partnership company is easy to set up and requires less compliance compared to companies. Partnerships in India are governed by the Indian Partnership Act, 1932. Reasons to set up a Partnership i

What is trust? The trust is registered under the Indian Trust Act of 1882 and makes provisions related to trusts. A trust is a type of cooperation in which the owner of the trust transfers ownership to the trustee. The purpose of ownership transfer here is to provide benefits to third parties. The property is transferred to the trustee by the trustor together with the announcement that the property is held by the trustee for the beneficiary of the trust. Primarily Trust will be formed with an in

Over the last two to three decades, India has emerged as one of the fastest growing economies in the world. The untapped potential that still remains means that India is an attractive option for foreign investors. Over the years we have seen many international corporations commence operations here in just about every industry. Today, the Indian business landscape mirrors that of an international hub. In this article we will discuss how foreign companies can set up a subsidiary in India and what

The Ministry of Corporate Affairs has issued a document consisting of clarifications regarding a number of frequently asked questions (FAQs) put forward regarding Corporate Social Responsibility (CSR). Since then, several important developments have been made. The Ministry has notified Article 135 of the law and amendments to the Corporate Social Responsibility Regulations on January 22, 2021, with the aim of strengthening the corporate social responsibility ecosystem, improving disclosure and s

Companies that intend to liquidate and do not have debts with anyone can initiate voluntary liquidation procedures. A company may choose to be liquidated voluntarily in a variety of situations, including liquidation due to the expiration of the operating period specified in the company bylaws or the occurrence of a dissolution event specified in the company bylaws. With the introduction of the Insolvency and Bankruptcy Code, 2016, voluntary liquidation has become very easy. This is now a hassle-

The Software Technology Parks of India has been set up by the Ministry of Communication and Information Technology for promoting the export of software from India. Companies which are into export of Software or into providing any IT or IT enabled services are required to obtain a Non-STPI registration. What is difference between STPI and NON-STPI Registration? STPI registration is primarily for a entities who want to set up business operations in Electronic Hardware Technology Park (EHTP) and So

In this article we will analyze the differences between a Private Limited Company (PLC) and a Limited Liability Partnership (LLP). To begin with, a PLC is a privately held company which is a preferred mode for doing any business, while an LLP is a business started by a minimum of 2 people. In both cases, the liability of the members is limited. From a Income Tax perspective, it is advisable for residents to register a LLP than a PLC. Since dividend distribution tax is not applicable for LLP, any

One Person Company (OPC) and Private Limited Company (PLC) are two different types of businesses which are both governed by the Companies Act, 2013. An OPC can be started by just one member whereas a PLC needs at least two members to commence operations. Similarities between OPC and PLC: Both are a separate legal entity which means both have their own identities in the eyes of the law. Both structures are entitled to certain tax benefits. The liability of the members of both an OPC and a PLC are

Steps After Company Registration Once a company is registered

In layman's terms, OPC (One Person Company) can be started by a single individual whereas PLC (Private Limited Company) must have two members on board. Click to know the comparison between the two.

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