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Our product range comtains a wide range of Limited Liability Partnership Registration Services, online legal services, OSP License Registration Services, RCMC Registration Services and GST Return Filling services
Limited liability partnership (llp) in india took shape after january 2009, making it an instant success with startups and professional services. Limited liability partnership registration, governed by the limited liability partnership act, 2008, combines the benefits of a partnership with that of a limited liability company. Llp was introduced to provide a form of business that is easy to maintain and to help owners by providing them with limited liability. For a limited liability partnership registration in india, vakilsearch is one of the most affordable and steadfast service providers.
The One Person Company (OPC) in recent times was launched as a good refinement over the sole proprietorship. In OPC, a single promoter gains full authority over the company thereby restricting his/her liability towards their contributions to the enterprise. Therefore, the said person will be the sole shareholder and director (however, a director nominee is present, but has zero power until the real director proves incapable of getting into the contract). Also, there can be no opportunity for contributing to employee stock options or equity funding. Additionally, if an OPC company has an average hattrick turnover of Rs. 2 crores and over or acquires a paid-up fund of Rs. 50 lakh and over, it has to be converted to a private limited company or public limited company within six months.
Any company providing ‘applications services’ like telebanking, telemedicine, telemedicine, tele-education, tele-trading, e-commerce, call center, network operation center and other it enabled services, by using telecom resources provided by authorised telecom service providers shall obtain osp license. The entities entitled to osp registration must be a company registered under companies act, 2013.
RCMC means the Registration Cum Membership Certificate issued by the Export Promotion Council or the Commodity Board. Any exporter intending to deal with the restricted goods are mandated to obtain the RCMC registration from the Export Promotion Council or the Commodity Board established in line with the products. The Certificate authenticates that an exporter dealing with a certain product is registered with a certain agency or authority authorised by the Government of India.
As per the GST law, every individual/Company/LLP registered under the GST Act has to furnish the details of sales, purchases and the tax paid by filing for GST returns with the administrative authorities. As a business person/ firm, one of your first priorities will be to do is GST return filing. Hence, knowing the ropes can help you make the process smoother and simpler. While filing a GST return, you are supposed to provide all the particulars related to your business activities, like the tax liability declarations, tax payments and also any other related information as per instructions provided by the government.
The Goods and Services Tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. GST is an indirect federal sales tax that is applied to the cost of certain goods and services. The business adds the GST to the price of the product and a customer who buys the product pays the sales price plus GST. The GST portion is collected by the business or seller and forwarded to the government. In effect, GST provides revenue for the government. GST is India’s first major sweeping tax reform in decades. This regime has rationalised tax collection and simplified compliance procedures to a great extent. Businesses that once had to register for a wide range of taxes, i.e., VAT, Excise Duty, Service Tax, CST, Octroi, Luxury Tax and Entertainment Tax, -- now only require a GST registration. GST is strictly an Indirect tax applied to the cost of certain goods and services while Income tax comes under Direct tax. This value-added tax is levied on all goods and service providers in the domestic market. However, not all businesses require a registration.
An Importer Exporter Code is a unique 10-digit code, which is requisite for every import/export business owner in India. The code is issued by the Director-General of Foreign Trade (DGFT), Ministry of Commerce and needs no filing or renewal. IEC is required by importers to clear customs and shipment, and to transfer money to foreign banks. Exporters require IEC to send shipments and receive money from foreign banks. In short, no importer/exporter can operate in India without getting the IEC.
The Private Security Agencies Act, 2005 regulates all aspects of the operation of private security agency business in India. Under PSARA 2005, if any person who wishes to begin a security agency business needs to be licensed in India. Also, in order to provide service outside of India, permission needs to be obtained from Controlling Authority, which shall consult the Central Government before according such permission.
A society is an organization in which a group of individuals with similar interest come together to perform some functions. The said societies are governed by the Societies Registration Act of 1860 and the said act is amended by the respective states. The societies are registered and governed as per the said act. Registration of society is required to promote the fine arts, science, literature, or knowledge sharing for a purposeful matter or for charity. On the other hand, society is also formed for the maintenance of a residential or commercial complex or for creating the Apartment Association.
Public Trust is the most convenient way of starting a non-governmental organization or NGO. A trust functions on the objective of eradicating poverty, providing education to the underprivileged and offering medical relief apart from the generalized aim of promoting arts, science and literature. It is to be noted that trusts are irrevocable which means they cannot be amended or terminated without the permission of the court. Vakilsearch helps in providing you with the trust registration certificate with a few documents like a deed of trust, rental agreement, etc. In India, there are no specific laws to govern the public trust, however, some states like Maharashtra and Tamil Nadu have their own public trust Act.
A freelance contract or a freelance agreement defines the terms and conditions between the freelancer and the customer. It specifies the job requirements, the timeline of the agreement, the mode and method of payment, as well as other details relevant to the execution of work by the freelancer. Over the years, with the evolution in technology, more and more work is assigned and executed through freelancers. Hence, freelance agreements have become popular, specifically in the IT sector.
Buying a property can be an overwhelming experience, both financially and emotionally. Hence, it is absolutely necessary to ensure that all the legal intricacies are absolutely unambiguous so that there is no legal hassle in the future. The intricacies to be kept in check are: Legal due diligence on the property by the buyer & an inquiry into the seller's capacity to pay; Agreement to sell and earnest money; execution of sale deed; possession, Registration and completion of payment.
A lease is a contract or an agreement under which one party agrees to rent the property owned by another party. It guarantees the lessee, also identified as the tenant, the use of an asset and supports the lessor, the property owner or landlord, regular payments for the period of exchange. Both the lessee and the lessor face consequences if they fail to upload the terms of the contract. Lessor- A lessor is the owner of an asset that is rented under an agreement to the lessee. Here the lessee makes a one-time payment or a series of periodic payments to the lessor in return for the use of the asset. Lessee- A lessee is a person who rents land or property from a lessor. They are also known as tenants, may have different restrictions depending on the space, as is the case with commercial and residential properties.
A relinquishment deed is a legal document where a legal heir gives up his/her legal rights to inherited property in favor of other heirs. The relinquishment deed transfers ownership when the person dies intestate, and the legal heir (by inheritance) shall transfer their shares in favor of another legal heir, or co-owner of the same property. A relinquishment deed shall be transferred either for consideration or without consideration. However, in order for the transfer to be a release or relinquishment, the parties involved must be co-owners of the property.
Real Estate describes the built environment without which the businesses and society cannot function. The residential and commercial sub-divisions of the Real estate sector is covered under the Real Estate (Regulation & Development) Act, 2016. The aim of RERA Act is to protect the rights and interests of the consumers and to promote uniformity and standardization of business practices and transactions in the Real Estate sector. It also attempts to balance the interest of buyers and promoters by imposing certain duties on both of them and seeks to establish symmetry of information between buyer and promoter. A RERA complaint can be filed by any home buyer against the builder, developer or agent if the buyer’s rights are violated or any provisions of the Act are contravened.
A non-disclosure agreement (NDA) is a legal contract stating that certain information is confidential, and the extent to which its disclosure is restricted to third parties. It can be entered into with a person or organisation. Confidential information includes trade secrets, business plans, business methods and strategies, drawings, charts and more. Software programs and code are also confidential information.
A franchise agreement is a contract where the business person consents to grant the enterprise name or company system to someone or an entity (the franchisee). The agreement will characterize the foundation of the terms between both the consenting groups, defining the remuneration for the franchisee ( payment in parts is frequently in the way of royalties for the usage of the business trademark etc), conditions on the usage of the brand name, the extent of the agreement, and terms concerning disciplinary provisions, varying from penalty in money and allowance to withdrawing the business franchise and the contract.