overseas consultation

You did not mention what type of consultancy services you are going to offer, please tell the business structure viz the constitution of the business

Thank u for ur quick response.

we are going to start manpower consultancy. or consultancy through our new constructed services,  or we will approach universities  in abroad to admissions from our local colleges ifor further studies.

Thank u

Need more details please.

Sudhabala:

For manpower consultancy, you will require permission from the labour deptt in the state where the business is going to be operated. Additionally you will also require to register under service tax. Further, for running a educational consultancy you will need to obtain the permission from the universities to act as an agent on behalf of them. Since there is no other details as to the constitution of the firm viz whether it is a proprietory, partnership or a incorporated company it is difficult to proceed further with the other requirements

Thank u vishal,

What are the requirements for separately , either proprietory, partnership,or incorporated company? we plan to do ,before we decide ,i must b know  the total details ,so kindly give me the details ,whatever u know and required formalities Etc..

Thank u.

Generally to begin the business you require capital for all investments to be made for the proposed business, In proprietory you get all the capital required to start and sustain the business till a certain stage. However, if you cannot bring in so much of the capital required then you may join with some one who is like minded to do the business which is called a partnership. A company can be incorporated if there is a huge investment going into the business. The capital is not contributed by one or two persons but by many persons. The basic requirement is registration. In case, of a proprietory there is no registration since the individual is the business and the business is the individual in other words both the individual and the business are two sides of the same coin. The risk involved is great since the liability extends to the personal property of the owner. However this is the simplest mode of business. The second type is partnership firm. The partners, who are generally like minded come together to do some business with a view to earn profits. Generally the profits are shared on basis of the partnership deed or on basis of capital employed. The responsibility and liability are shared by all the partners. The partnership is governed by the covenants as per the partnership deed.The company is a more sopisticated system of business. The owners are the shareholders and their liability is confined to the amount of share capital subscribed and not fully paid up. Partnership deed doesnot require registration however, the firm must be registered  with the Registrar of firms. similarly the company is registered under the company act. A company is governed by its articles. The maximum tax slab for the three type of business explained above is 30%.

Apart from the above there are a lot of distinction that can be drawn from the above type of constitution. If you have any specific query please ask for clarification.

Thank u vishal,

Yes-day i gave my questions on the topic but it was not updated, so again i will ask .  u explained 30% ,please remaining data also  give to me for further procedings. what are the major requirements for incorporated company? and what are requirements for it ,first basically ,ofcourse money matter ,otherthan that please tell me,and which is better one, incorporated company or parternership firm?

please give reply.

Thank u very much 

with regards---sudha.

For incorporating a company, you should have minimum 2 subscribers for a private company and 7 subscribers for a public company . 2 directors in case it is a private limited company and three directors in case of a public limited company who can be amongst the subscribers themselves. Also, the minimum share capital would be 1,00,000 in case of a Pvt held company and 5,00,000 incase it is a Public company. As far as the expenses are concerned the rates vary from professional to professional. I suggest you opt for a partnership firm, once you establish yourself well then you can opt for a company.

Please do write in case of further queries

Thank u vishal,

for ur information and suggestions .i must b discussed with my highers , but please inform me about parternership involvement ,with if  two or three partners to start such type of consultancy, what are the conditions,  rules and benefits are to b occured?

please give reply.

With regards----sudha.

Ms Sudha:

You will need to start the partnership firm with a minimum of 2 persons. The deed has to drawn on a Rs 500 stamp paper and then you need to apply to the Registrar of Firms on Form 1 paying a nominal fee that which is charged by the registrartion Deptt. Although it is not mandatory under the partnership act to  register the document but as a precaution it is always advisable to register the deed. Once the Certificate of registration comes apply for a PAN no. Service Tax can be applied once the turnover of the firm touches 9 Lakhs since the service tax is exempt from collection upto 10 Lakhs. In mean time You will be required to approach the Labour department for registration. In between you can start a Bank account and start the business. Please mention the place of the business since different states have different stamp paper requirement. In A P the deed needs to be drawn 500 Rupees stamp paper.

I dont know what Abhishek is doing.will somebody stop him.

Vishal,

Thank u very much for ur advises ,those are very guided messages to b followed on my project , i must b followed ur suggestions, now i am in process to forward in front my highers.

once again thank u very much.

with regards------sudha.

Palnitkar ji,

Thank u for ur awareness.Really i  too don't know ,what Mr.abhishek doing , Why he is interfere in unnecessarily ,unwanted matters, i think better to complaint to forum higher authorities,because ur a senior member, so do it ,if it is possible.

With regards----sudha.

I too don't understand, what Abhishek sent the message, why can't he express his view s boldly.  This website give knowlege to everyone.  Forum should make a system for this.  Mr. palnitkar  pointed out correctly in this regard.