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One can open two accounts in two banks in different capacities. One can open two current accounts with partnership and sole proprietorship with the same bank also.
Based on the present scenario, sometimes it is actually difficult for the Financial Institutions to grant finance to the Startups. There are various factors which is to be determined by these institutions before financing the startups.
The word “Startup” itself is one of the reason due to which there are difficulties in getting financial supports to the business. There are many other challenges faced by these startups such as:
The name of all government companies shall end with the word “Limited”, be it public or a private company. A Government company is one in which not less than 51% of the paid-up share capital is held by the Central Government or a State Government or jointly by both.
Section 4 of The Indian Partnership Act 1932, defines the partnership as “the relation between persons who have agreed to share the profits of business carried on by all or any of them acting for all”.
There are basically two types of partnership firm:
1. Unregistered Partnership Firm
The new Income Tax Return (ITR) form has been notified by CBDT hence person who is businessman and registered under GST then while filing Income Tax Return for assessment year 2018-19, that person must provide GST-IN and GST turnover in the ITR form from this year onwards.
All such expenses which are incurred for business purpose can be deducted as expense in financial statements which will be clearly indicated or highlighted while filing the ITR of the firm. Partners should take care for all related provisions and rules as provided under Income Tax Act for the mentioned adjustment.
Hence international business trip can be deducted as expense of the firm.
Yes, Class –III Digital Signature is required to file Trademark Registration Application online through government portal i.e. http://www.ipindia.gov.in/ . The DSC is required by either agent or the attorney under whose code the application will be filed. However, one can file physical application with Registry where there is no requirement of a Digital Signature.
In every Company, directors are generally appointed as the authorized signatories. The directors take majority decisions of the company with the consent of all the directors. By affixing the Directors’ stamp on the documents confirms the designation of the person signing the document. Thus, all the legal documents and resolutions passed in the board’s meeting or elsewhere passed in the name of the company which require the signature of director, the same should go with the stamp of director.
A trade mark is a visual symbol which may be a word to indicate the source of the goods, a signature, name, device, label, numerals, or combination of colors used, or services, or other articles of commerce to distinguish it from other similar goods or services originating from another. It is a distinctive sign which identifies certain goods or services as those produced or provided by a specific person or enterprise.
Agreement of Partnership, also known as a Partnership Deed, is a document that outlines in details the rights and responsibilities of all Partners who sign the deed to carry on the business to earn profit. The deed contains various general clauses along with the specific once, if required based on the Act.
The deed must be duly signed by the partners, stamped and notarised. Any alteration in partnership deed can be made with the mutual consent of all the partners. Each partnership agreement differs based on business objectives.
