Counsel

Ask an expert! Legal, accounting and compliance advice from qualified professionals.

Share Details

0/200
0/1500

Your Question has been submitted.

The Counsel team is processing your question and connecting to the best suited professional from the community to have it answered. We’ll get back with an answer shortly.

Recently Answered Questions

ROC compliance required for new company? We a private limited company established in Dec 2016. We did not file the ROC compliances for that year since we did not have any transactions or documents (as we were a new company). Now we need to file for year 2017-18 and 2018-19. Will we face any fines and penalties.

A company, irrespective of whther it has any transactions or not, is to file its annual returns along with other compliances. The returns might say that there are not transactions in the year.

Since you were incorporated in Dec 2016, you will need to file the annual returns for 2016-17, 2017-18 and 2018-19. You are already incurring penalties ...


View answer
I want to setup a new company in Indore, MP. We are two brothers. Do.we go ahead with an LLP or a Pvt Ltd? We have limited capital and no office.

Your choice of entity type depends on your requirements.

- In case you want to raise capital in the future or offer ESOP to any of your employees, you should go ahead with a Private Limited Company.

- In case, there is any foreigner who would want to invest in the company, a Private Limited Company is preferred.

- If you want t...


View answer
My company incorporated in 2017 and sent for "strike off" in 2018 after filing all compliances for 2017-2018. It is under strike off on MCA do i still need to file compliance for 2018-2019.

Please check the status of the company on the MCA portal. In case it says Strike off, you do not need to file the annual returns now. However, stay alert for any communication you receive from MCA regarding the company - that will be important.

...

View answer
Recently (a month ago), I started my firm as a sole proprietorship. How can I convert it into a private limited company?

A conversion from a proprietorship to Private Limited is not possible. You can incorporate a Private Limited Company and make it to acquire the sole proprietorship to take over its business, assets and track record. In your case, however, since its only a month old firm, I don't think an acquisition of the sole proprietorship is needed, unless there i...


View answer
I want to setup a new company in Indore, MP. We are two brothers. Do.we go ahead with an LLP or a Pvt Ltd? We have limited capital and no office.

Your choice of entity type depends on your requirements.

- In case you want to raise capital in the future or offer ESOP to any of your employees, you should go ahead with a Private Limited Company.

- In case, there is any foreigner who would want to invest in the company, a Private Limited Company is preferred.

- If you want t...


View answer
Recently (a month ago), I started my firm as a sole proprietorship. How can I convert it into a private limited company?

A conversion from a proprietorship to Private Limited is not possible. You can incorporate a Private Limited Company and make it to acquire the sole proprietorship to take over its business, assets and track record. In your case, however, since its only a month old firm, I don't think an acquisition of the sole proprietorship is needed, unless there i...


View answer
No questions in this category.
No questions in this category.

Looking to hire a professional from our handpicked community?

Explore our services, submit your request and let us do the rest for you.

Get started