Formalities reqd for coaching institute
This query is : Resolved
Swati Gulati
(Querist)
17 March 2015
Hello, I would like to know what legal processes need to be complied with to open an coaching institute.
We are 4 girls, all engineers who wish to start a coaching institute for school kids in our city. We would be teaching ourselves and have guests lecturers visiting too in future.
What are the legal formalities that need to be fullfilled to open such an coaching centre, and would we be needed to have a formal accounting structure and stuff in place?
We are 4 girls, all engineers who wish to start a coaching institute for school kids in our city. We would be teaching ourselves and have guests lecturers visiting too in future.
What are the legal formalities that need to be fullfilled to open such an coaching centre, and would we be needed to have a formal accounting structure and stuff in place?
CA ALOK KUMAR
(Expert)
17 March 2015
Hello Ms.Swati,
First of all you have to decide whether you all want to start your business as partnership firm or LLP or private limited company. You may opt any one option. So far as concerned to legal formalities, first you have to get your business registered, then you have to get PAN (Permanent account number) of the entity and after analyzing your business objective, activity and clients nature, I would be able to suggest, whether service tax number required or not. Rest, you may have to register under shop & establishment Act, depending on your city.
First of all you have to decide whether you all want to start your business as partnership firm or LLP or private limited company. You may opt any one option. So far as concerned to legal formalities, first you have to get your business registered, then you have to get PAN (Permanent account number) of the entity and after analyzing your business objective, activity and clients nature, I would be able to suggest, whether service tax number required or not. Rest, you may have to register under shop & establishment Act, depending on your city.
Swati Gulati
(Querist)
17 March 2015
Hello Nandan Sir,
We are thinking of a partnership firm. What will be the detailed requirements. Plus will it require a registered office?
What else could be a better option?
We are thinking of a partnership firm. What will be the detailed requirements. Plus will it require a registered office?
What else could be a better option?
CA ALOK KUMAR
(Expert)
17 March 2015
First let me know the city of proposed office? You may opt for LLP means Limited Liability Partnership, where the liability of partners are limited, but in case of partnership firm, partners liability are unlimited.
Message likes :
1 times
Swati Gulati
(Querist)
17 March 2015
The city is Raipur, Chhattisgarh
We would like to opt for the best option. We havent started the process yet.
We would like to opt for the best option. We havent started the process yet.
CA ALOK KUMAR
(Expert)
18 March 2015
Better option in your case will be LLP, you may email your detail at info@wealth4india.com, our expert will guide you accordingly
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- GSTR-9C filing
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- Capital Gains Tax on Inherited Mutual Fund
- IMS (import of goods) ITC related
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
