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Higher education

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Initial step for starting business - Company Incorporation

Now a day’s India is in top list in all the sectors, and all the companies want to start business operations and get them register in India because they know there is a huge growth and business opportunities in India. Company Registration in India is a simple process. For, Company Incorporation in India Accounting Forte have to understand the types of companies operating in India. Basically there are two types of Companies – Private Company, Public Company. For Private Company at least 2 members are needed and for Public Companies the figure will rose to 3. Paid up share capital for private co. is 1lac and 5lac in case of public companies. Before starting incorporation procedure every prospective director should hold PAN card and DIN (director identification no.)

For Din Accounting Forte have to file DIN 1 on www.mca.gov.in and with this form there is a need of Digital Sign signature Certificate of each Director / Promoter. After that Apply for the name availability of the proposed company to ROC. For name approval Accounting Forte have to file form 1A to ROC which includes the option to write six names on priority basis. Before filing form 1A, Name availability Guidelines should be understand as issued by ministry of corporate affairs. If ROC finds the name proposed in form 1A is not as per the guidelines then ROC may reject the form with reasons for rejection. Accounting Forte have only 2 chances for filing Form 1A and still if Accounting Forte do not get the name approval then again Accounting Forte have pay the fees to ROC for further filing of Form 1A. After approval of name the company can incorporate within 6 months otherwise you can renew the name by paying the required fees.

After getting the name the following documents are needed. 1. Memorandum of Association 2. Article of Association 3. Letter of authority 4. Form 32 for the Director 5. Form 18 for registered office address 6. Registration fees for Company incorporation in India

Some other important points about Indian company that Accounting Forte need to understand are: - In Indian company any person can be the director either Indian or foreigner. - Any individual/company can be the shareholder of Indian company whether Indian or foreigner. - Minimum four meetings of Board of Director in one year. It is held anywhere in the world. - Registration fees and stamp duty is depends upon the authorized capital of the proposed company.

Now days if foreign company wants to start our business in India. Accounting Forte have a well organized team and experts who help you to Company Formation in India and make your all work easy. Accounting Forte have a great team of chartered accountants with associates in different cities in India who always assist you in all types of your business work. Before incorporating foreign company RBI( Reserve Bank of India) approval is mandate in order to subscribe share capital. Secondly, Non-objection certificate (NOC) should be taken from the parent company. Moreover, the rest process for Company incorporation is same as Accounting Forte mentioned above. — Preceding unsigned comment added by 111.91.228.174 (talk) 12:01, 7 June 2013 (UTC)[reply]

Social Welfare through NGOs

NGO is a Non Government Organization. It is an Organization in which there is no role of Government and Government Representative. They are usually NPO (Non Profit Organization). NGO Registration in India is in different forms like, Registration under the Societies Registration Act 1860, Public Trust or Section 25 Companies under the companies Act, 1956. Non-Profit organization can be registered themselves as a Trust, Society or a company under section 25 of Companies Act, 1956(also known as company u/s 25). For Registration, some documents need to be available before starting basic process of registration. For example,

In case of Trust Registration.

1. Trust Deed – i. The details of the author / settler of the Trust. ii. The detail of Trustees. iii. Name of Trust. iv. Detail of the Place where the office is situated. v. It should be signed by both the Trustees and settler in the presence of witness. 2. Photo Id proof of trustee, settler and witness. 3. Address proof of office where trust is registered. 4. Signed Authority Letter.

In case of Societies Registration, under the societies registration Act 1860

1. Covering letter / Request letter. 2. Minimum number of Members of managing committee is seven 3. Two copies of Memorandum of Association. With complete detail of all seven or more managing committee members. i.e. Name, Address and full signature. 4. Two copies of Rules and Regulations. 5. Affidavit regarding the Name of the Society, duly attested / notarized from the President / Secretary. 6. Copy of address proof of all members. 7. Ownership proof of the registered office. i.e. House Tax Receipt, Rent Receipt and NOC ( No Objection Certificate) by the owner of the Premises. 8. Cash or Demand Draft in favour of Registrar, Societies of required registration Fees.

After receiving and verification of all the documents the Registrar’s office issue a certificate to the society. An important thing is that the name should be different and it could not be match with another society already registered.

In case of Registration of Section 25 Companies under the companies Act, 1956

1. First Apply for the DIN Number for the Directors. 2. Along with DIN there is a need of Digital signature Certificate, The Directors should apply for the Digital Signature Certificate. 3. Check for the name available on the MCA site and after that apply for the name in form 1A along with the required Fees 4. Memorandum and Article of association. 5. A Declaration by the Director 6. Form 32 of Director and form 18 for the registered office address. 7. Demand Draft for prescribed fees in favour of Registrar of the company.

After NGO registration we also have to get registered our NGO under Income tax Act for 80G Certification and 12A Exemption. 80G Certification helps assessee to claim deduction u/s 80G for the donations made to NGO. And 12A exemption helps NGO to claim exemption on Income that accrue or deemed to accrue during the financial year after satisfying the 12A conditions.

Accounting Forte has a well reputed firm in this field and we have a great team of experts and well organized professionals who help you to registered a NGO and all its legal documentation work.