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What does it mean to incorporate? Incorporating a business means turning your sole proprietorship or general partnership into a company formally recognized Ministry of Corporate affairs. When a company incorporates, it becomes its own legal business structure set apart from the individuals who founded the business. Through incorporation, the company's owner or owners create a separate legal entity to transact business. This new business entity corporation or limited liability Partnership Company (LLP) transforms the way the business is seen through the eyes of the law and often has more credibility with potential customers, vendors and employees.
LLP Annual Filing Process for the year 2016-17 Every LLP which is already registered with the Ministry of Corporate Affairs have to file the Annual Returns and Statement of Accounts for the Financial Year 2016-17. There are 3 Main Compliance which is mandatory things for the LLP's of the Year 2016-17 a) Annual Return b) Statement of the Accounts or you can say Financial Statements of the LLP c) Income Tax Returns Filings.
Private Limited Company, is the best corporate structure to start your own business. It can be registered with minimum two members and maximum with two hundred members. The private limited company is juristic, and the liability of members is limited to their shares. The private limited company can be registered within 7-10 days. A private limited company must hold board meeting and file annual returns with MCA (Ministry of Corporate affairs). Private limited company has more credibility than an LLP or General Partnership. Venture capitalist and Angel investor prefers to invest in a private limited company. Approximate every year, more than 100, 000 companies registered India. private limited company registration firstman corporate services
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