Legal and Tax compliance

Legal and Tax compliance
Legal and Tax compliance

Our teams ensure you that we comply with regulations and legislation affecting our business. We are also provide valuable advice to your business on everything from mergers and acquisitions to fiscal policies to legal risks. Consequently, we offer a wealth of opportunities for legal and tax professionals.

  • Banking law Expert
  • Financial law Expert
  • Legal Adviser
  • Tax Advisor
  • Anti-money-laundering Researcher
  • Compliance Officer
  • Insurance Specialist and much more.

For details contact us

Business Expansion via Promotions

business-expansion-via-promotions
Business Expansion via Promotions

Do you want to grow your business and expand into new markets?

If your answer is Yes, we can help you using following ways –

  • Social media
  • Blog
  • YouTube and Flickr
  • SEO your company website
  • Press releases for publicity
  • Online community and much more tools we have for promote your business.

For details contact us –

 

 

Office Setup and Staff Recruitment

Do you want to setup your own office?

  • Do you want to establish your own office with everything ready in less than 30 days?
  • Are you planning to setup your back office in a low cost country to support your business expansion?
  • Are you a start-up company looking to establish your own office?
  • Do you want to outsource your projects but you want total control of all the staff that works for you?

If your answer is YES to any of the above mentioned questions we can help you. We can help you setup your own offshore team in India. We can set it up for you in a very short timeframe, usually within 30 days.

You can take advantage of our local knowledge and experience. You do not need to worry about local regulations and procedures. We will take care of everything for you, from start to finish.

Are you looking for staff recruitment?

We believe that a company can aspire to achieve their objectives only through development of their human resources. We continuously interpret and anticipate the changing world of work to turn them into opportunities.

Manu Info Solutions Pvt. Ltd. are focused every day on finding the right Candidate to support our clients – wherever they have needs and wherever they are located.

For details contact us

Mandatory documents required for export and Import of goods

 

The Government of India has issued a notification no. 114 (RE-2013)/2009-2014 dated March 12, 2015 which came into effect on April 01, 2015. According to which the following documents are mandatorily required for Export and Import of goods:

  1. Mandatory documents required for export of goods from India:
    1. Bill of Lading/Airway Billexport and Import
    2. Commercial Invoice cum Packing List
    3. Shipping Bill/Bill of Export
  2. Mandatory documents required for import of goods into India:
    1. Bill of Lading/Airway Bill
    2. Commercial Invoice cum Packing List
    3. Bill of Entry

Further, if export or import of specific goods or category of goods, which are subject to any restrictions/policy conditions or require NOC or product specific compliances under any statute, then regulatory authority concerned may notify additional documents for purposes of export or import.

Further that regulatory authority concerned may electronically or in writing seek additional documents or information, as deemed necessary to ensure legal compliance in specific cases of export or import of goods.

 

What are the popular business entities in India?

business-entity-in-indiaIf you are thinking for starting a business in India then first you have to choose that which legal entity is best for your business needs and goal. Now a days these are the most popular Business entities:

1.) Sole Proprietorship

2.) Partnership

3.) Limited Liability Partnership (LLP)

4.) One Person Company (OPC)

5.) Private Limited Company (Pvt Ltd)

6.) Public Limited Company (Ltd)

 

1. Sole Proprietorship Firm:

The sole proprietorship is the simplest business form under which a single person can operate a business with a brand name. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts and day to day affairs. A sole proprietorship can operate under the name of its owner.

The sole proprietorship is getting popular because of its simplicity and nominal cost. A sole proprietor need only to register his or her name and secure local licenses, and the sole proprietor is ready for business.

To Form and to Know more about Sole  Proprietorship Firm CLICK HERE:

 

2. Partnership Firm:

The Partnership is that form of business entity which is owned and controlled by two or more persons who jointly contribute to the funds required for the conduct of business. A partnership firm can be formed with minimum of 2 and the maximum of 20 persons.

Partnership refers to the relation of principal and agent among the partners. Each partner represents the other partners in his dealings with the third parties and acts as their agent. In his capacity as agent, each partner minds the other partners with his commitments or liabilities contracted on their behalf. In India, partnership firms are governed by the Indian Partnership Act, 1932. Under this Act, it is not compulsory to register the partnership firm. There is however, only one formality, i.e. the partners has to decide the terms and conditions on which they agree to conduct their business jointly with other partner/partners. This agreement of partnership is called “partnership deed”.

The agreement can be oral or written. It is preferable to have partnership deed in written form. It is prepared on a stamp paper of Rs. 15 and should preferably be attested by a notary public, though it is not a legal requirement.

To Form and to Know more about Partnership Firm CLICK HERE:

 

3. Limited Liability Companies:

Limited Liability Partnership (LLP) is an alternative corporate business entity in India that provides the benefits of limited liability of a company but allows its members the flexibility of organizing their internal management on the basis of a mutually-arrived agreement, as is the case in a partnership firm.

Limited Liability Partnership in India has been enacted by the Parliament of India in 2008 by Limited Liability Partnership (LLP) Act of 2008.

This business entity is very popular in western world, it would be useful for small and medium enterprises in general and for the enterprises in services sector in particular, including professionals and knowledge based enterprises. Particularly huge size law firms, CA firms or other networks of professional are using this business entity.

As proposed in the Bill, LLP shall be a body corporate and a legal entity separate from its partners. It will have perpetual succession. While the LLP will be a separate legal entity, liable to the full extent of its assets, the liability of the partners would be limited to their agreed contribution in the LLP.

Contrary to partnership in LLP no partner would be liable on account of the independent or unauthorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partner’s wrongful business decisions or misconduct.

To Form and to Know more about  Limited Liability Partnership (LLP) CLICK HERE:

 

4. One Person Company (OPC):

The concept of One Person Company [OPC] is a new form of business, introduced by The Companies Act, 2013 [No.18 of 2013], thereby enabling Entrepreneur(s) carrying on the business in the Sole-Proprietor form of business to enter into a Corporate Framework.
One Person Company is a hybrid of Sole-Proprietor and Company form of business, and has been provided with concessional/relaxed requirements under the Act.

 To Form and to Know more about One Person Company (OPC) CLICK HERE

 

5. Private Limited Company (Pvt.Ltd.):

A Limited Company or Private limited company is a voluntary association of not less than two and not more than fifty members, whose liability is limited, the transfer of shares is limited to its members and the general public is not allowed to invite to subscribe to its shares or debentures.

In India it is the most famous or most popular business entity concept to fix a business.

It consists:

  • Shareholders’ right to transfer shares is restricted;
  • The number of shareholders is limited to fifty;
  • An invitation to the public to subscribe to any shares or debentures is prohibited.

 To Form and to Know more about Private Limited Company (Pvt.Ltd.) CLICK HERE:

 

6. Public Limited Company (Ltd):

A public limited company is a voluntary association of members which is incorporated and, therefore has a separate legal existence and the liability of whose members is limited.

A Public Limited Company is also the most popular form of business entity used for Indian and Foreign Investors in India (including USA investors in India).

 

It consists:

It must have at least seven shareholders.ü

A public company is not authorized to start business upon the grant of the certificate of incorporation. In order to be eligible to commence business as a corporation, it must obtain another document called “trading certificate”.ü

It must publish a prospectus or file a statement in lieu of a prospectus before it can start transacting business.ü

A public company is required to have at least three directors.ü

It must hold statutory meetings and obtain government approval for the appointment of the management.ü

To Form and to Know more about Public Limited Company (Ltd) CLICK HERE:

 

Documentation and formalities to form a Trade Union

Form A
Date the…………. day of……………. 19……
1. We hereby apply for the registration of a Trade Union under the name of …………………………………….…
2. The address of the head office of the Union is …………………………………….…
3. The Union came into existence on the………………..…… day of …………..……. 19 ……………………
4. The Union is a Union of employers/workers engaged in the industry (or profession).
5. The particulars required by section 5(1) (c) of the Indian Trade Unions Act, 1926, are given in Schedule I.
6. The particulars given in Schedule II show the provisions made in the rules for the matters detailed in section 6 of the Indian Trade Unions Act. 1926.
7. (To be struck out in the case of unions which have not been in existence for one year before the date of application). The particulars required by section 5(2) of the Indian Trade Unions Act, 1926, are given in Schedule* III.
8. We have been duly authorized to make this application.

 

Signature Occupation Address Signed
1.
2.
3.
4.
5.
6.
7.
8.

To the Registrar of Central Trade Unions, Delhi.

Schedule 1 – List Of Officers 

Title Name Age Address Occupation

 

Note:- Enter in this Schedule the names of all members of the executive of the Union showing in column 1 the names of any posts held by them (e.g. President, Secretary, Treasurer, etc.) in addition to their offices as members of the executive.

 

Schedule 1I – Refrence To Rules

The numbers of the rules-making provision for the several matters detailed in column 1 are given in column 2 below:

Matter Number of rules
1. 2.
Name of union
The whole of the objects for which the union has been established.
The whole of the purposes for which the general funds of the union shall be applicable.
The maintenance of a list of members.
The facilities provided for the inspection of the list of members by officers and members.
The admission of ordinary members.
The admission of honorary or temporary members.
The conditions under which members are entitled to benefit assured by the rules.
The conditions under which fines or forfeitures can be imposed or varied.
The manner in which the rule shall be amended, varied or rescinded.
The manner in which the members of the executive and the other officers of the union shall be appointed and removed.
The safe custody of the funds,
The annual audit of the accounts.
The facilities for the inspection of the account books by officers and members.
The manner in which the union may be dissolved.
Annexure ‘B’
I, __________________ S/O Sh.________________________ Age ________ yrs R/o_______________________________________ __________________________________________do hereby solemnly affirm and declare as under:-
1.
That I am the elected General Secretary of _______________________________ ___________________
Union (Name of union) ( Address of Union )
2.
That to the best of my knowledge and belief no Union / Association by the name of “___________________
( Name of Union )
Union ” is registered under the Trade Unions Act,1926 in Delhi or any where in India
3. That in case of any legitimate claimant of union’s name, we will surrender the certificate and change name of the union as per directions of the Registrar Trade Unions, Delhi .
4. That no member or office bearer has ever been convicted by Court of India for any offence involving moral turpitude and sentenced to imprisonment.
5. That all particulars supplied as per form A as well as other documents are true.
6.
That the scope of the Union shall be for the employees of ————-
( Name of Establishment)
7.
That neither the applicants nor the office bearer and my self are the member of any other union functioning in ________________ ___________________
( Name of Establishment)
8.
That there are approximate ————— employees are working in ———————————————————
(Name of Establishment)
and out of which —————————– employees are members of our union.
9. That this is my true statement.
DEPONENT
Verification:-
Verified at Delhi on__________________that the contents of the above affidavit are true and correct to the best of my knowledge and belief.
Deponent

SECHEDULE III – STATEMENT OF LIABILITIES AND ASSETS ON THE ……………… DAY OF……….…. 19

(This need not be filled in if the Union came into existence less than one year before the date of application for registration.)

Liabilities Rs. P. Assets Rs. P.
Amount of General fundAmount of political fundLoans…. fromOther liabilities (to be Specified)
Cash
In hands of TreasurerIn hands of SecretaryIn hands of-In the BankIn the Bank

Securities as per list below

Unpaid subscription due
Loans to-

Immovable property

Goods and furniture

Other assets (to be
specified)

Total Liabilities Total Assets

List Of Securities

Particulars Nominal Market value In hands of
1.
2.
3.
4.
5.
6.
7.

 

* State here whether the authority was given by a resolution of a general meeting of the Union, if not, in what other way it was given.

 

To form a Trade Union in India contact us on mail@legalindia.com or CLICK HERE

How to form a Joint Venture in India?

joint ventureA foreign company can invest in an Indian company through a joint venture agreement in the areas which are otherwise not reserved exclusively for the public sector or which are not under the prohibited categories such as real estate, insurance, agriculture and plantation.

Foreign Companies can set their operations in India by forming a joint venture company with one or more than one Indian partner. As it seems from its name a joint venture is a new enterprise owned by two or more participants to share markets / intellectual property and its knowledge and its profit too.

It is essentially a medium to long-term contract which is specific and flexible. Though, the joint venture a newly created business enterprise can be represented and its participants can continue to exist as separate firms. It can also be organized as a partnership firm, a corporation or any other form of business organisation which the participating firms choose to select.

 

Advantages of Joint Venture Company:

  • Contribution by partners of money, property, effort, knowledge, skill or other assets to the common undertaking.
  • Joint property interest in the subject matter of the venture.
  • Right of mutual control or management of the enterprise.
  • Right to share in the property.
Disadvantages of Joint Venture Company:
  • Joint ventures are of limited scope and duration.
  • They involve only a small fraction of each participant’s total activities.
  • Each partner must have something unique and important to offer the venture and simultaneously provide a source of gain to the other participants.
Foreign investment into India is governed by the Foreign Direct Investment (FDI) policy and the Foreign Exchange Management Act, 1999 (FEMA). The Government has set up a Indian Investment Centre in the Ministry of Finance as a single window agency for authentic information or any assistance that may be required for investments, technical collaborations and joint ventures.

 

To start a Joint Venture Company in India just fill this form:

How to form a Political Party in India?

Political PartyAn application for registration is to be submitted to the Secretary, Election Commission of India, Nirvachan Sadan, Ashoka Road, New Delhi-110001 in the Performa prescribed by the Commission. The Performa is available on request by post or across the counter from the office of the Commission. The Performa and necessary guidelines are also available on the Commission’s website under the main heading Judicial References, sub-heading Political Party and sub-sub-heading Registration of Political Parties. The same can be downloaded from there also. The application should be neatly typed on the party’s letter head, if any, and it should be sent by registered post or presented personally to the Secretary to the Election Commission within thirty days following the date of formation of the party.

2. The application must be accompanied by the following documents/information:-

  • A demand draft for Rs. 10,000/- (Rupees Ten Thousand Only) on account of processing fee drawn in favour of Under Secretary, Election Commission of India, and New Delhi. The processing fee is non-refundable.
  • A neatly typed/printed copy of the memorandum/rules and regulations/Constitution of the Party containing a specific provision as required under sub-section (5) of Section 29A of the Representation of the People Act, 1951 in the exact terms, which reads “—————(name of the party) shall bear true faith and allegiance to the constitution of India as by law established, and to the principles of socialism, secularism and democracy and would uphold the sovereignty, unity and integrity of India”. The above mandatory provision must be included in the text of party constitution/rules and regulations/memorandum itself as one of the Articles/clauses.
  • The copy of the party Constitution should be duly authenticated on each page by the General Secretary/President/Chairman of the Party and the seal of the signatory should be affixed thereon.
  • There should be a specific provision in the Constitution/rules and regulations/memorandum of the party regarding organizational elections at different levels and the periodicity of such elections and terms of office of the office-bearers of the party.
  • The procedure to be adopted in the case of merger/dissolution should be specifically provided in the Constitution/rules and regulations/memorandum.
  • Certified extracts from the latest electoral rolls in respect of at least 100 members of the party (including all office-bearers/members of main decision-making organs like Executive Committee/Executive Council) to show that they are registered electors.
  • An affidavit duty signed by the President/General Secretary of the party and sworn before a First Class Magistrate/Oath Commissioner)/ Notary Public to the effect that no member of the party is a member of any other political party registered with the Commission.
  • Individual affidavits from at least 100 members of the party to the effect that the said member is a registered elector and that he is not a member of any other political party registered with the Commission duly sworn before a First Class Magistrate/Oath Commissioner)/Notary Public. These affidavits shall be in addition to the furnishing of certified extracts of electoral rolls in respect of the 100 members of the applicant party.
  • Particulars of Bank accounts and Permanent Account Number if any in the name of the party.
  • Duly completed CHECK LIST along with requisite documents prescribed therein.

3. The application along with all the required documents mentioned above should reach the Secretary to the Commission within 30 days following the date of formation of the party.

4. Any application made after the said period will be time-barred.

 

To form a Political Party in India just fill this form:

 

How to form a Trade Union in India?

trade unionInIndia, as against the earlier policy of suppressing trade unionism and its leaders, a modest protection has been given under the Trader Unions Act, 1926. Trade Union means any combination, whether temporary or permanent, formed primarily for the purpose of regulating the relations between workmen and employers or between workmen and workmen or between employers and employers, or for imposing restrictive conditions on the conduct of any trade or business, and includes any federation of two or more Trade Unions (Sec 2{g}). The rulebook of the trade union, a copy of which is to be submitted for registration along with other details, shall disclose whole of the objects for which the trade union has been established and whole of the purposes for which the general funds of the trade union shall be applicable. The rules shall also determine membership criteria, subscription requirements, method of election of office bearers and dissolution of the trade union (Sec 6).

The Registrar’s satisfaction about compliance with all the requirements of the Act leads to registration (Sec 8) creating a corporate personality. In order to deal with the problem of multiplicity of trade unions, it is provided by the Amendment Act 2001 that a registered trade union of workmen shall at all times continue to have not less than ten percent or one hundred of the workmen, whichever is less, employed in the industry with which it is connected (Sec 9A). Willful contravention of the provisions of the Act, or fraud or mistake in obtaining registration, or stoppage of functioning may cost its registration itself (Sec 10). This is a strong measure for purpose compliance.

For effective functioning of the trade unions, the office bearers or members of Trade Unions are given immunity from criminal and civil liabilities (Sec 17 and 18) for activities purporting to further trade union objectives. The appropriate government (either central or state) shall appoint a person as Registrar of Trade Union for each state. He shall be assisted by Additional and Deputy Registrars of Trade Unions appointed by the Government. These officers are the implementing bodies for the statute. Willful contravention of the provisions of the Act, or fraud or mistake in obtaining registration, or stoppage of functioning may cost its registration (Sec 10).

 

Advantages:

  • it protects the interest of its members
  • it builds the relationship between the employee and employer
  • it organize social , recreational and culture activities among the members

 

 Disadvantages:

  • If labour markets are competitive, higher wages will cause unemployment.
  • Trades unions only consider the needs of its members; they often ignore the difficulty of those excluded from the labour markets.

Documents required for a Trade Union

  • Names, occupations and address of the members making application.
  • The name of the Trade union and the address of its lead Office.
  • The titles, names, ages addresses and occupations of the (office bearers) of the trade.

To form a Trade Union in India just fill this form: