17 Feb 7 Types of Company Registration available in India
Many business structures are available to you if you’re looking to start your own business. Your choice of organizational structure will affect the taxes you pay, the compliance measures that you must follow, and the eligibility criteria you must meet. In all these cases, a company registration in Dwarka Sector 11 can help you.
Different types of companies
Here’s a look at India’s different types of business entities, as per the Companies Act 2013.
Types of company registration
The primary way business owners can establish their company is through company registration in Dwarka Sector 12. There are many Indian companies, so entrepreneurs need to choose the right type for their business. In India, the Companies Act, 2013 provides seven different structures for setting up a business.
- Private Limited Company
- Public Limited Company
- Limited Liability Partnership
- One Person Company
- Sole Proprietorship
- Section 8 Company
Private Limited Company
Businesses that need to be registered as private entities can use private limited companies. This type of company allows shareholders to share the risk among themselves, helping to protect their assets. The total capital for such types of business is the sum of all shares owned by each member. The members’ personal and business assets are treated separately, which allows for greater security and protection. These shares cannot be traded publicly or transferred.For more details on private limited company, you can take assistance from Company Registration Consultants in Dwarka Sector 19.
Types of private companies
- Limitation by shares
- Limitation by guarantee
Limited Liability Partnership
The limited liability partnership, also known as an LLP, is a new type in India. The limited liability partnership has its legal status. This allows entrepreneurs to distinguish between business and personal assets and provides them with limited liability protection. The number of shares capital a partner has determined their liability in an LLP.
One Person Company
OPC is the newest addition to the company registration permitted in India. It is ideal for small businesses. This is the best option available for entrepreneurs who want to own a business. OPC is a legal entity that has its status. Entrepreneurs have the option of liability protection, but they don’t need to be partnered with anyone.
One person is responsible for the management of the business as a sole proprietorship. Both the company and its owner are treated as one entity. They are therefore solely responsible for any profits or losses. The registration will bear the name and address of the owners. This allows for unlimited business liability.
It is also the easiest type of business to start and maintain. This is a popular choice for home-based business owners as it doesn’t require any compliance or investment.
Section 8 Company
Section 8 companies are often referred to as non-profit organizations. They work for charitable causes. Its purpose is to promote arts, science and literature, education, care for the poor, and protect the environment. They also ensure that all profits are used for these purposes, and members don’t take any dividends.
The benefits of company incorporation
Taxontrack solutions make it easy to register any one of these types. Our experts will also assist you with all questions and help you through the process.
List of Services Offered By Company Registration Consultants in Dwarka Sector
Everyone wants to be self-employed, and company registration is considered the first step in establishing a new business. Tax on Track Solutions is a Company registration consultants in Dwarka sector 23 which is engaged in registering all companies in Dwarka Sector 11, Delhi, including private limited company registration partnership firm registration.