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Company means either a private limited company, a public limited company, a nidhi company, a nbfc company, an opc company, section 8 company or producer company. Company in its literal meaning means “an association of persons” formed for a profit earning purpose(Exception could be section 8 companies). Here company means “those association of persons” which has got registered under company act.
There are multiple benefits of doing business in company form of business. Among them, one is that existence of company is seperate from its promoters. It gives you options to raise more and more capital for your business and that your liabillity is limited in case of companies.
“LLP” is new concept brought up in India. LLP means Limited Liability Partnerhip”. It is one type of partnership having limited liability. Partnership had unlimited liability, this shortcomings have been removed in LLP. Apart from this, doing business in form of LLP, gives you one more advantage over other partnership that in case of LLP, you get brand image as people from anywhere of the world can check details about the LLP. This helps you in creating confidence in mind of customers about your products, services and your business entity.
Service tax is a tax to be collected mandatorily by service providers on receipt of their services. But for collecting service tax, you need to register your business with service tax department. If keep it in simple terms, if you are a service provider having turnover of Rs. 10,00,000 or more per year, you are required to take service tax registration mandatorily. But not all services are included in taxable services, for this please contact us. We will check it that whether your services are taxable or not and if yes we will help you in getting service tax registration.
What is the importance of ISO Certification?
Quality of product or services not only help you in increasing trust of your customers but it also enhances your income manifolds. But how can you show that your products or services are of world class or standard? It can be shown by help of getting ISO certification or other product or service certification system. ISO certification is certification of quality of your products or services in compliance of international standard set. We advise to take ISO certification for your business as it will help you in gaining reach to every corner of market.
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This article is written by: ACS Prince Kunal
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