Incorporation of a Company:
Incorporating a company in India involves several steps. The process is governed by the Companies Act, 2013, and overseen by the Ministry of Corporate Affairs (MCA). Here’s a detailed outline of the procedure:
1. Choose the Type of Company

• Private Limited Company: Limited liability, restricted share transfer, and a minimum of 2 directors and 2 shareholders.
• Public Limited Company: Can raise capital from the public, requires a minimum of 3 directors and 7 shareholders.
• One Person Company: A company with a single shareholder and director.
• Section 8 Company: Not-for-profit entities.

2. Obtain Digital Signature Certificate (DSC)

• For Directors: All proposed directors must obtain a DSC to sign electronic documents.

3. Obtain Director Identification Number (DIN)

• DIN Application: Apply for a DIN via the MCA portal. New directors will need to provide personal identification documents and proof of address.

4. Name Reservation

• Propose Names: Submit up to two names in order of preference.
• Name Availability: Check availability through the MCA portal. Names should be unique and not resemble existing companies.

5. Drafting of Incorporation Documents

• Memorandum of Association (MOA): Defines the company’s objectives.
• Articles of Association (AOA): Specifies the rules and regulations governing the company’s internal management.
• Other Documents: Includes consent letters from directors, proof of address of the registered office, and identity and address proof of shareholders.

6. File Incorporation Forms

• SPICe+ Form: Use the SPICe+ form (Simplified Proforma for Incorporating Company electronically) for submitting the incorporation application along with the MOA and AOA.
• AGILE-PRO Form: This form is used for obtaining various registrations such as GST, ESI, and EPF.
• Other Forms: Depending on specific requirements, you might need to submit additional forms like INC-9 (Declaration by Subscribers and Directors).

7. Payment of Fees

• Incorporation Fee: Pay the requisite fees for incorporation as per the company’s authorized capital.

8. Certificate of Incorporation

• Review and Approval: Once the MCA reviews and approves the application, a Certificate of Incorporation is issued. This certificate confirms that the company is legally registered.

9. Obtain PAN, TAN, PF and ESIC

• PAN (Permanent Account Number), TAN (Tax Deduction and Collection Account Number), Provident Fund Registration Number and ESIC Registration Number shall also be simultaneously obtained through Incorporation of Company.

Incorporation Limited Liability Partnership (LLP):
Limited Liability Partnership (LLP), introduced only in 2008, has quickly become a popular legal structure for businesses. Its main improvement over the General Partnership is that, as the name indicates, it limits the liabilities of its partners to their contributions to the business and also offers each partner protection from the negligence, misdeeds or incompetence of the other partners.
The LLP is also cheaper to incorporate than a private limited company, requires fewer compliances and can be a smart choice from a tax perspective. However, if you are looking to raise venture capital or attract talent with employee stock options, private limited is the way to go as LLPs cannot easily accommodate it.
Procedure for LLP Registration:

• Document Requirements: Every Partner must have PAN Card issued by the Income Tax department as an Identity proof and One address proof in his/her name. One passport size photograph of each Partner is required. Clear Scanned copies of proofs and photos are preferred.

• Name Availability Search: It is advisable to conduct a Name Search for the proposed name of the LLP to make sure that there is no identical or similar LLP/Company already registered in India or for which an application for registration has been submitted.

• Application of DPIN & Digital Signature: We shall prepare and send all the required documents for signature of the Promoters at one go.

• Name Application: After approval of all the DPIN, we shall draft the Main Object of the LLP for the approval of the Promoters. On the approval of the Promoters, our team will forward LLP name application with the Registrar of LLP.

• Filing of Incorporation documents: Our Team will prepare all the relevant documents required for the incorporation and will file the same with the authorities.

• LLP Agreement & Partner Details: It is mandatory to prepare and file LLP Agreement and Partner details (via Form 3 & Form 4) within 30 days of Incorporation. We prepare LLP Agreement and send it for your approval and subsequently file Form 3 and Form 4 in time.

• Final Process: After completion of the process, we provide you a file containing all documentation made for LLP registration.

 

Incorporation of a Society:
A society in India is typically registered under the Societies Registration Act, 1860, and it is generally used for promoting charitable, educational, religious, or other non-profit objectives. Here’s how you can incorporate a society:

1. Name Selection: Choose a unique name for the society. The name must not be similar to an existing society's name or trade name.
2. Prepare a Memorandum of Association: This document should include the society’s name, objectives, and the details of the governing body.
3. Draft the Rules and Regulations: These should outline the internal management and operational guidelines of the society.
4. Documents Required:
• Memorandum of Association.
• Rules and Regulations.
• List of members of the governing body (including their names, addresses, and occupations).
• Address proof of the society’s registered office.
• Consent letters from the members.
5. File the Application:
• Submit the application to the Registrar of Societies in the respective state.
• The application should include the memorandum of association, rules and regulations, and the required documents.
6. Registrar’s Review:
• The Registrar will review the application and may ask for additional information or clarification.
7. Certificate of Registration:
• If everything is in order, the Registrar will issue a Certificate of Registration, which officially constitutes the society.

Incorporation of a Trust:
Trusts in India are generally registered under the Indian Trusts Act, 1882, or under the provisions of the local state laws where applicable. Here’s the procedure for registering a trust:

1. Draft a Trust Deed:
• Prepare a Trust Deed which includes details such as the name of the trust, objectives, the names of the trustees, and the rules governing the trust.
2. Choose Trustees:
• Appoint trustees who will manage the trust. There should be at least two trustees.
3. Prepare Required Documents:
• Trust Deed.
• Address proof of the trust's registered office.
• Identity and address proofs of the trustees.
• PAN Card of the trust and trustees.
• No Objection Certificate (NOC) from the landlord if the office is rented.
4. Register the Trust Deed:
• Submit the Trust Deed along with the necessary documents to the local sub-registrar office where the trust is to be registered.
5. Pay the Stamp Duty:
• Stamp duty on the Trust Deed must be paid as per the Stamp Act applicable in the respective state.
6. Registration Process:
• The Registrar will review the documents and, if satisfied, will register the Trust Deed, providing a Certificate of Registration.

Additional Considerations

• Tax Registration: Both societies and trusts may need to apply for tax exemptions under Sections 12A and 80G of the Income Tax Act, 1961, if they aim to benefit from tax exemptions available to charitable organizations.
• Compliance: Ensure compliance with the relevant regulatory requirements, including filing annual returns and maintaining proper accounts.

The specific procedures and requirements may vary slightly depending on the state or region in India, so it's advisable to consult with legal professionals or experts in the respective area.

Long Term Relationship: We look forward to a very long-term relationship with all our clients. We provide all kinds of recurring compliance services required by the Company/LLP/Society/Trust in the form of Annual Return filing and various Event Based Compliances.

You could call us on 7701809677 write to us or e-mail us on cssudhirmakhija@yahoo.com for immediate needed assistance, steps, and legal advisory.