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John Prakash (Asst. Professor)     04 May 2011

Starting new business

Sir,

My friend is currently working abroad and he plans to relocate to Trivandrum, kerala in july and has already put in his resignation. The company has offered him to work as a engineering consultant for them based from trivandrum. One option is to start his own office in trivandrum. I will also be helping him in his consultancy work.

So how do we go about it. what is the office setup procedure. Since remuneration is coming from abroad how do we register the office. Can we start it as a firm or partnership or should it be registered as a company. with my limited knowledge I understand it is better to start as a simple partnership when we are starting the business. If so what is the procedure??? should it be registered with some other offices also like that of  the local bodies???

What are the taxation issues and should the help of a chartered accountant be needed to handle this or is it simple ?

Who can help in this - a business lawyer, or a chartered accountant or a company secretary or others??. Kindly advise with a practical solution.



Learning

 4 Replies

adv. rajeev ( rajoo ) (practicing advocate)     04 May 2011

Go for partnership firm.  Take the help of an advocate, CA  or Tax consultant.


(Guest)

@John  Prakash

Partnership should be registered ,the procedure is given in the partnership act ,1932 and you can make an agreement ,defining terms and condition etc..Registration is not mandatory but its advisable.


If you want to know back to basic about partnership firm then GO TO https://www.indiahowto.com/understanding-partnerships.html

 

Second link;https://https://www.akosha.com/small-medium-businesses/article/benefits-registration-partnership-india

1 Like

Amit Soni (Proprietor)     13 June 2011

Dear John,

 

From the taxation point of view, it will be better to start as a pvt. ltd. co. bcoz Income Tax Act imposes some cap over the remuneration to partners & Interest on capital of partners. So it will be better for you, if you are expecting a handsome revenue, to incorporate a company.

Kwatra Corporate Advisors (Advocates)     19 June 2011

WE CAN ASSIST YOU ON THE SAME.


CONTACT US at 9811860574

or


011-29213198


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