What business in india will lakhs give

Doing business in India

Min members 2 7 1 2 partners Max member 200 Unlimited 1 No limit Min directors 2 3 1 2 Designated Partner Max directors fifteen* fifteen* fifteen* N / A Resident Director 1 Mandatory 1 Mandatory 1 Mandatory 1 Designated Partner Transfer of ownership Ownership can be transferred Ownership can be transferred Ownership can be transferred to the nominee in the event of the owner's death Ownership can be transferred Subscription of shares Public subscription not allowed Public subscription allowed Public subscription not allowed Public subscription not allowed Issue of the prospectus Not mandatory ** Mandatory Not mandatory Not mandatory Management compensation No limit for executives The approval of the shareholders is required if the remuneration to be paid is above the limits N / A The remuneration is based on an LLP agreement Start of business activity Declaration to be submitted before the start Declaration to be submitted before the start Declaration to be submitted before beginning Immediately after receiving the deed of incorporation Legal status Pvt Co is a separate legal entity registered under the Companies Act 2013. The Board of Directors is liable for any failure made under the Act Public Co is a separate legal entity registered under the Companies Act 2013. The Board of Directors is liable for any failure made under the Act OPC is a separate legal entity registered under the Companies Act 2013. The Board of Directors is liable for any failure made under the Act LLP is a separate legal entity registered under the 2008 LLP Act. The designated partners of LLP are liable for violations under the law Law / law Companies Act, 2013 Companies Act, 2013 Companies Act, 2013 LLP Act, 2008 Annual legal filings Annual financial statements and annual returns at ROC Annual financial statements and annual returns at ROC Annual financial statements and annual returns at ROC Annual solvency declaration and annual return with ROC Annual filings and audits IT returns must be submitted. Audit mandatory IT returns must be submitted. Audit mandatory IT returns must be submitted. Audit mandatory IT returns must be submitted. The exam is compulsory if the turnover exceeds 40 lakhs INR or the contribution exceeds 25 lakhs INR