FORMATION OF TRUST, PARTNERSHIP FIRM AND COMPANIES

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Formation and management of Trusts

A public charitable or religious institution can be formed either as a Trust or as a Society or as a Company registered u/s 25 of the Companies Act. A trust is a relationship in which a person or entity holds a legal title to certain property for the benefit of one or more individuals or organization. The entity that creates a trust is called a settlor. The trust has primarily 3 parties, the donor, the trustee, and the beneficiaries. It is usually created through a trust deed. After creation of the trust, various registrations and exemptions under Income Tax Act may be required. A trust may be private or public, fixed or discretionary. Our Trusts and estates lawyers work with clients of all ages to tailor estate planning strategies that help preserve and protect client’s wealth. We regularly offer advice and guidance on essential trust formation and estate planning documents.

Company formation in India

Types of Business Entities in India

Types of Companies in India – Types of Corporate Entities in India – Types of Legal Entities in India – Options for Foreign Investors Doing Business in India

In India, the following types of business entities are available :

  • • Private Limited Company
  • • Public Limited Company
  • • Unlimited Company
  • • Limited Liability Partnership (LLP)
  • • Partnership
  • • Sole Proprietorship
  • • Liaison Office / Representative Office
  • • Project Office
  • • Branch Office
  • • Joint Venture Company
  • • Subsidiary Company
STEPS FOR COMPANY FORMATION IN INDIA  
Obtain Director Identification Number DIN for proposed Directors of the new Company11*
Obtain Digtal Signature Certificate DSC for proposed Directors of the Company22*
Filing the proposed name of company for approval to the Registrar of Companies (ROC)32
Get the Memorandum of Asociation and Articles of Association printed41
Pay stamp duties online51
File all incorporation forms and documents online, including  the Memorandum of Association and the Articles of Association.62
Obtain the certificate of incorporation72
Request and obtain Certificate to Commence Operation, if required85
   
OTHER STEPS FOR SETTING UP BUSINESS IN INDIA  
Obtain a company seal93
Obtain a Permanent Account Number (PAN) from an authorized franchise or agent appointed by National Securities Depository Services Limited (NSDL) or Unit Trust of India (UTI)107*
Obtain a Tax Account Number (TAN) for income taxes deducted at source from the Assessing Office in the Income Tax Department117*
Register under Shops and Establishment Act124*
Register for value added tax (VAT) before the Sales Tax Officer of the ward in which the company is located1312*
Register for Profession tax142*
Register with Employees’ Provident Fund Organization1512*
Register with ESIC (medical insurance)169*
Filing for Government Approval before RBI/FIPB for Foreigners and NRI’s1715*
Totals:1740
   

Applicable Laws for Forming a Company in India

The laws applicable for incorporating a company in India include the India Companies Act 2013, read with Companies (Central Governments’) General Rules and Forms, the Indian Income Tax Act, and other laws & regulations. The previous law was India Companies Act of 1956.

The Foreign Exchange Management Act of 1999 is applicable for foreign investments and transactions.

Where to Incorporate in India?

A company incorporated in any state of India can do business in all the states of India. The following are the locations of Registrars of Companies (ROC’s) in India:

States & U.T.’s of IndiaROC Locations
Maharashtra, Dadra & Nagar HaveliRegistrar of Companies Maharashtra
MUMBAI ( Bombay )

Society Laws


We advise clients on matters pertaining to Maharashtra Co-operative Societies Act. 1960 as amended from time to time. The Firm also assists clients in formation of Society under the Maharashtra Co-operative Societies Act. 1960 and advises various Societies on the same.

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CONTACT US

Mumbai

Mumbai C/o Parsiana, K. K. (Navsari) Chambers, 39B, Ground Floor,
Opp. St. Cathedral School side entrance, Amrit Keshav Nayak Road, Fort,
Mumbai 400001.
Landline: 022- 2207 4336
Mobile: 9167 004 264 Email: [email protected]

Navi Mumbai

Navi Mumbai No 61,
Thapar Complex, Sector 15,
Near Arcee Electronics, Behind New CBD Belapur Court,
CBD Belapur 400614
Mob: 9987 517 492 Mob: 8652 7792 58 Email: [email protected]

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