Business Setup in India

If you want to take business to new heights then you need to get it recognized in the society. So the first step that a person must do for getting a recognition in the market is to choose such a form of entity that will be well recognized. For the same purpose, the person must register his business as a company so that his business will get recognized in the market. Further there are various benefits that the person will get being its company registered. Furthermore, India’s plan for ease of doing business make the process for company Registration so fast that now you can incorporate your company within one or two days. Company is a common choice for start-ups and businesses with high growth aspirations to start a business in India.

A Private / Limited Company is governed by the MCA and licensed under the Companies Act 2013. It is a recognized Company type, which gives the organization’s members a distinct legal identity. Providing important benefits, such as the right to negotiate on its own behalf, and safeguarding the personal interests of shareholders from corporate responsibility.

Limited Liability Partnership Act, 2008 brought with itself the concept of LLP .The benefits of LLP are that it is simple to maintain & it provides the privilege of limited liability to the owners. Thus combines the benefits of both company & partnership into a single organization. One partner is not responsible or liable for another partner's misconduct or negligence. Therefore, all partners have a sought of limited liability for each individual's protection within the partnership, similar to that of the shareholders of a corporation.

A Partnership Firm is a popular form of business constitution for businesses that are owned, managed and controlled by an Association of People for profit. Partnership firms are relatively easy to start are is prevalent amongst small and medium sized businesses in the unorganized sectors. With the introduction of Limited Liability Partnerships in India, Partnership Firms are fast losing their prevalence due to the added advantages offered by a Limited Liability Partnership.

There are two types of Partnership firms, registered and un-registered Partnership firm. It is not compulsory to register a Partnership firm; however, it is advisable to register a Partnership firm due to the added advantages. Partnership firms are created by drafting a Partnership deed amongst the Partners and Ashish Mahajan and Associates can help start a registered or un-registered Partnership firm in India.