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Legal requirements for Starting a Business

LLP 1565 views 7 replies

Hello,

I need help to understand the legal requirements for running my business.

Here are a few details.

1. Under this business, we provide only services.

2. We have registered an LLP (with two partners) - I know the filing requirements for this.

3. I am taking a small commercial place from where we will conduct our operations.

4. I will do the service tax registration.

I want to know, if I need to fulfill any other legal procedures for doing business? I have no employees, just the two partners.

Do I have to register under shops and establishments act?

Do I have to hang a board outside the premises?

Do I have to maintain any statutory registers?

Please help.

Replies (7)

 

Yes, you need shop and establishment license as It is to be granted by Local authorities.

 

Board needs to be hanged outside as per Law.

 

Register also needs to be mentioned.

Thank you so much for your replies.

1. The requirement to hang the board is under which law? Is it under Shops and Establishment act?

2. If I am starting my office from 1st august, so, I should register under shops and establishment act before or after that?

3. Regarding service tax registration, I heard that I need not register if my yearly turnover is less than 10 lakh. Is it true?

Please help with these questions.

 

It is under LLP act.

 

After the start.

 

Yes, It is true, with some modification Service tax exemption limit is upto Rs. 10 Lacs but if your turnover reaches more than 9 Lacs, You have to register yourself.

agree with mr. ANKUR                 

I think that hanging the board should be a requirement under shops and establishments act. Because all types of firms are required to do so. Am I right?

I also have some doubt about TDS. Under what circumstances, do I need to deduct TDS. And what do I need to be able to deduct TDS?

 

Every law provides for hanging board outside office like LLP, Company Law, Shop & Establishment, etc.

 

Various TDS Rates are there and according to that you have to deduct TDS


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