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India

Legal form:

LLP, Pvt. Ltd., OPC, AOP

Delivery:

21 days

Price: $

2500

Payment methods:

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Requirements:

Document checklist:

Local legal address (Handled by B2B Hub) 

1.Passport
2.Proof of Residence 

Registrar

Organization name

Abbreviation

Country

India

Email

Phone

Listing
Open website
UK comapny formation (1).webp

About

India

Capital
Official languages
Population 
Currency

ISO 4217

New Delhi

Hindi and English

1,380,004,385 (as of July 2020)

Indian Rupee

INR

FAQ

FAQ for company formation in India:


1. What is the minimum number of people required to form a company in India?

    - A minimum of two people are required to form a private limited company in India, while a minimum of seven people are required to form a public limited company.


2. What are the types of companies that can be formed in India?

    - There are various types of companies that can be formed in India, such as Private Limited Company, Public Limited Company, One Person Company (OPC), Limited Liability Partnership (LLP), and Section 8 Company.


3. What is the process of forming a company in India?

    - The process of forming a company in India involves obtaining a Digital Signature Certificate (DSC), Director Identification Number (DIN), choosing a company name, registering the company with the Ministry of Corporate Affairs (MCA), and obtaining a certificate of incorporation.


4. What are the documents required for company formation in India?

    - The documents required for company formation in India include identity proof and address proof of the directors, memorandum and articles of association, address proof of the registered office, and other necessary documents as per the type of company.


5. How long does it take to form a company in India?

    - It usually takes around 15-20 days to complete the entire process of company formation in India, provided all the required documents are in order.


6. What are the compliance requirements for companies in India?

    - Companies in India are required to comply with various regulations such as filing of annual returns and financial statements, conducting board and general meetings, maintaining statutory registers, and complying with tax regulations.


7. What is the tax rate for companies in India?

    - The tax rate for companies in India depends on the type and size of the company. For small companies with a turnover of up to INR 400 crores, the tax rate is 25%. For larger companies, the tax rate is 30%.


8. Can foreign nationals or companies form a company in India?

    - Yes, foreign nationals or companies can form a company in India, subject to certain conditions and compliance requirements.


9. What are the benefits of forming a company in India?

    - Some of the benefits of forming a company in India include limited liability protection, easy access to funding, separate legal entity, tax benefits, and better credibility and visibility in the market.

Economy

India's economy has been growing steadily over the past few years. According to the World Bank, India's GDP grew by 6.1% in 2019, making it the fifth-largest economy in the world. India's GDP per capita also increased from $1,939 in 2018 to $2,104 in 2019. The country's unemployment rate decreased from 6.1% in 2018 to 5.8% in 2019. India's exports also increased from $331.2 billion in 2018 to $341.2 billion in 2019. The country's foreign direct investment (FDI) inflows also increased from $44.4 billion in 2018 to $49.9 billion in 2019. India's inflation rate decreased from 3.4% in 2018 to 3.2% in 2019. These figures demonstrate that India's economy is growing and is on track to become one of the world's leading economies.

Taxation

In India, both corporations and individuals are subject to income tax, goods and services tax (GST), and various other taxes and duties. Here is an overview of the tax system in India:


Corporate taxation:

- Corporate income tax is levied on the profits of companies at a rate of 25% for domestic companies and 40% for foreign companies, plus applicable surcharge and cess.

- Dividend payments made by Indian companies to shareholders are exempt from tax, but shareholders may be subject to tax on the dividends they receive depending on their individual tax bracket.

- Other taxes and duties that companies may be subject to include the minimum alternate tax, dividend distribution tax, and customs duty.


Personal taxation:

- Individuals in India are subject to personal income tax on their worldwide income at progressive rates ranging from 0% to 30%, plus applicable surcharge and cess.

- Social security contributions are also deducted from employees' gross salaries under the Employees' Provident Fund (EPF) and the Employees' State Insurance (ESI) schemes.

- Other taxes that individuals may be subject to include the wealth tax, property tax, and stamp duty.


Tax payment process and calendar:

- Indian taxpayers are required to file their tax returns annually by July 31st of the year following the tax year for individuals and September 30th for companies.

- The tax year in India is from April 1st to March 31st of the following year.

- Companies are required to pay corporate income tax in four instalments throughout the year, with the first three instalments due by the 15th day of June, September, and December, respectively, and the final instalment due by March 15th of the following year.

- Individuals may be required to pay advance tax if their tax liability for the year exceeds INR 10,000. Advance tax payments are made in four instalments throughout the year, with the first instalment due by June 15th, the second instalment due by September 15th, the third instalment due by December 15th, and the final instalment due by March 15th of the following year.

- Late tax payments are subject to penalties and interest charges.

Company incorporation application form

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Extra services

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