Question 1

What services does Legit Filings offer?

Accepted Answer

We handle end-to-end business setup and compliance — company & LLP registration, GST, income tax filing, ROC/annual compliance, licenses, trademarks and accounting — with a dedicated expert for every client.

Question 2

How quickly do you respond?

Accepted Answer

Our average response time is under 15 minutes during business hours. Every client is assigned a dedicated relationship manager for seamless communication.

Question 3

Is the process fully online?

Accepted Answer

Yes. You can complete everything remotely — share documents digitally, approve drafts online, and receive your certificates by email. No office visits required.

Question 4

Are your prices transparent?

Accepted Answer

Yes. Every service shows a clear starting price. Professional fees and any applicable government fees are explained upfront, with no hidden charges.

Question 5

Do you provide ongoing compliance support after registration?

Accepted Answer

Absolutely. We offer annual compliance plans covering ROC filings, GST returns, TDS, bookkeeping and payroll so you never miss a deadline.

Question 6

Can startups work with Legit Filings?

Accepted Answer

Absolutely — we specialise in helping early-stage startups set up their legal structure and manage initial compliance so founders can focus on growth.

Question 7

How long does company registration take?

Accepted Answer

Timelines vary by structure: Private Limited Company and OPC typically take 7–10 working days, LLP 10–14 days, and Partnership or Sole Proprietorship 3–5 days, once documents are in order.

Question 8

Which business structure should I choose?

Accepted Answer

It depends on your liability protection needs, fundraising plans, and how much compliance you want to manage. A Private Limited Company suits startups planning to raise funding; an LLP suits professional or service firms wanting lower compliance; an OPC suits solo founders; a sole proprietorship suits the simplest, lowest-cost start.

Question 9

Do I need a registered office address to start a business?

Accepted Answer

Yes, every structure needs a registered office address with proof (a utility bill plus a No-Objection Certificate), but a residential address is fully acceptable — you don’t need commercial office space to register.

Question 10

Can I convert my business structure later (e.g. proprietorship to Pvt Ltd)?

Accepted Answer

Yes. Many founders start as a sole proprietorship or LLP and convert to a Private Limited Company later as they scale or prepare to raise funding. We can guide the conversion process.

Question 11

How many people do I need to register a Private Limited Company?

Accepted Answer

A minimum of 2 directors and 2 shareholders (they can be the same people). At least one director must be a resident of India. The maximum is 200 shareholders.

Question 12

Is there a minimum capital requirement?

Accepted Answer

No. There is no mandatory minimum paid-up capital — you can start with any amount. Authorised capital of ₹1 lakh is common and does not need to be deposited upfront.

Question 13

Can I register the company at my home address?

Accepted Answer

Yes. A residential address is fully acceptable as the registered office, provided you can furnish a utility bill and a No-Objection Certificate from the property owner.

Question 14

What compliance is required after incorporation?

Accepted Answer

A Private Limited Company must file annual returns (MCA), income-tax returns, hold board meetings, and complete DIR-3 KYC. We offer annual compliance plans so you never miss a deadline.

Question 15

How many partners are needed for an LLP?

Accepted Answer

A minimum of 2 designated partners, at least one of whom must be resident in India. There is no maximum limit on the number of partners.

Question 16

Is there a minimum capital requirement?

Accepted Answer

No. An LLP can be started with any amount of capital contribution — there is no mandatory minimum.

Question 17

LLP or Private Limited Company — which should I choose?

Accepted Answer

Choose an LLP for lower compliance and professional/service firms not seeking equity funding. Choose a Private Limited Company if you plan to raise investment or issue ESOPs.

Question 18

What annual compliance does an LLP have?

Accepted Answer

An LLP files Form 11 (Annual Return, by 30 May) and Form 8 (Statement of Account & Solvency, by 30 October), plus its income-tax return. We offer plans that handle all of it.

Question 19

Who can register an OPC?

Accepted Answer

Only a natural person who is an Indian citizen and resident in India can form an OPC and be its nominee. A person can incorporate only one OPC at a time.

Question 20

Is a nominee mandatory?

Accepted Answer

Yes. You must appoint a nominee at incorporation who will take over the company if you’re unable to continue. The nominee must give written consent in Form INC-3.

Question 21

When must an OPC convert to a Private Limited Company?

Accepted Answer

Conversion becomes necessary once the OPC crosses the prescribed paid-up capital or turnover thresholds. We track this and handle the conversion when required.

Question 22

OPC or sole proprietorship?

Accepted Answer

An OPC gives limited liability and a separate legal entity (better for credibility and continuity); a sole proprietorship is simpler but exposes you to unlimited personal liability.

Question 23

Is registering a partnership firm mandatory?

Accepted Answer

No, but an unregistered firm cannot sue to enforce its rights in court. Registration with the Registrar of Firms is inexpensive and strongly recommended.

Question 24

How many partners can a firm have?

Accepted Answer

A minimum of 2 partners; the maximum is 50 partners under the Companies (Miscellaneous) Rules.

Question 25

What is the liability of partners?

Accepted Answer

Liability is unlimited — partners are personally liable for the firm’s debts. If you want limited liability, consider an LLP instead.

Question 26

How is a partnership firm taxed?

Accepted Answer

The firm is taxed at a flat rate on its profits, and partners are taxed separately on remuneration/interest received. We handle the firm’s ITR too.

Question 27

Is a single registration required for a proprietorship?

Accepted Answer

There is no one “proprietorship registration”. You establish it through the registrations you need — commonly Udyam (MSME), GST, or a Shop & Establishment licence.

Question 28

What is the liability of a sole proprietor?

Accepted Answer

Liability is unlimited — your personal assets are exposed to business debts. Consider an OPC or LLP if you want limited liability.

Question 29

How is a proprietorship taxed?

Accepted Answer

Business income is taxed as part of the proprietor’s personal income-tax return at individual slab rates. There is no separate corporate return.

Question 30

When should I upgrade to a company or LLP?

Accepted Answer

When you seek funding, add partners, want limited liability, or need stronger credibility. We handle the conversion when you’re ready.

Question 31

Who is eligible for Startup India recognition?

Accepted Answer

A Private Limited Company, LLP or registered partnership that is under 10 years old, has annual turnover below ₹100 crore, and is working on innovation or a scalable business model.

Question 32

What tax benefit does it offer?

Accepted Answer

Recognised startups can apply for a three-consecutive-year income-tax exemption under Section 80-IAC (subject to Inter-Ministerial Board approval), among other benefits.

Question 33

Do I need to be incorporated first?

Accepted Answer

Yes. You must have an incorporated entity (Pvt Ltd/LLP/partnership) before applying for DPIIT recognition. We can do both together.

Question 34

How long does recognition take?

Accepted Answer

Once documents are ready, recognition is typically granted within a couple of weeks, subject to portal processing.

Question 35

What are the MSME classification limits?

Accepted Answer

Micro: investment ≤ ₹1 cr and turnover ≤ ₹5 cr. Small: ≤ ₹10 cr and ≤ ₹50 cr. Medium: ≤ ₹50 cr and ≤ ₹250 cr.

Question 36

What documents are needed?

Accepted Answer

Udyam registration is Aadhaar- and PAN-based and fully online — no uploads of physical documents are required.

Question 37

What are the main benefits?

Accepted Answer

Collateral-free loans, lower interest rates, priority-sector lending, subsidies, tender preferences, and protection against delayed payments under the MSMED Act.

Question 38

Who can register?

Accepted Answer

Any enterprise — proprietorship, partnership, LLP, or company — engaged in manufacturing or services, within the investment and turnover limits.

Question 39

What’s the difference between PAN and TAN?

Accepted Answer

PAN identifies you for all tax purposes; TAN is specifically required to deduct or collect tax at source (TDS/TCS) and to file TDS returns.

Question 40

Who needs a TAN?

Accepted Answer

Any business or individual required to deduct TDS — on salaries, contractor payments, rent, etc. — must have a TAN before depositing it.

Question 41

Do new companies apply separately?

Accepted Answer

No — a company’s PAN and TAN are issued automatically during SPICe+ incorporation. Separate application is mainly for firms, trusts and proprietors.

Question 42

How long does it take?

Accepted Answer

Once documents are ready, allotment is typically completed within a few working days.

Question 43

What is a Class 3 DSC?

Accepted Answer

Class 3 is the highest-assurance digital signature, now mandatory for company filings, GST, e-tenders and most government portals.

Question 44

How long is a DSC valid?

Accepted Answer

DSCs are issued for 1, 2 or 3 years. We remind you before expiry so filings never stall.

Question 45

Where do I need a DSC?

Accepted Answer

MCA/ROC filings, GST, income-tax e-filing, EPFO, trademark filings, and e-procurement/tender portals.

Question 46

Is Aadhaar video KYC required?

Accepted Answer

Yes — a short video/mobile verification is part of the mandatory KYC before a DSC is issued.

Question 47

Is GST registration mandatory for my business?

Accepted Answer

It is mandatory if your turnover exceeds ₹40 lakh (goods) or ₹20 lakh (services), if you sell inter-state, or if you sell through e-commerce platforms like Amazon or Flipkart. Many businesses also register voluntarily to claim input tax credit.

Question 48

How long does it take to get a GSTIN?

Accepted Answer

Typically 3–7 working days once documents and Aadhaar authentication are complete. Delays usually happen only if the officer raises a clarification (REG-03), which we handle for you.

Question 49

What is the composition scheme?

Accepted Answer

The composition scheme lets small businesses (turnover up to ₹1.5 crore) pay GST at a low flat rate with simpler quarterly filings, but they cannot claim input tax credit. We advise which scheme fits you.

Question 50

Do I need to file returns after registration?

Accepted Answer

Yes — GST returns (GSTR-1 and GSTR-3B) must be filed monthly or quarterly even if there are no sales. We offer GST return-filing plans to keep you compliant.

Question 51

What documents are needed for GST registration?

Accepted Answer

Initial requirements usually include a PAN card, Aadhaar card, proof of business address (electricity bill or rent agreement), and bank account details.

Question 52

Who needs an IEC?

Accepted Answer

Any person or business importing or exporting goods, and service exporters claiming benefits or dealing in foreign exchange.

Question 53

Is the IEC valid for life?

Accepted Answer

Yes, it has lifetime validity, but it must be confirmed/updated on the DGFT portal every year (even if there are no changes).

Question 54

Is there a government fee?

Accepted Answer

Yes, the DGFT charges a nominal government fee (₹500) in addition to our professional fee.

Question 55

Do service exporters need it?

Accepted Answer

Service exporters generally need an IEC to claim export benefits or receive foreign remittances against services.

Question 56

Which states levy professional tax?

Accepted Answer

Many states including Maharashtra, Karnataka, West Bengal, Tamil Nadu, Gujarat and Telangana levy it. A few states/UTs do not — we confirm for your location.

Question 57

What’s the difference between PTEC and PTRC?

Accepted Answer

PTEC is enrolment to pay the business’s own professional tax; PTRC registers you to deduct and deposit PT from employees’ salaries.

Question 58

Who pays professional tax?

Accepted Answer

Salaried employees (deducted by the employer), professionals and businesses — subject to state slabs and thresholds.

Question 59

What if I don’t register?

Accepted Answer

Non-registration and late payment attract penalties and interest that vary by state. We keep you compliant.

Question 60

What happens if I miss a compliance deadline?

Accepted Answer

Missing statutory deadlines (ROC filings, GST returns, TDS, etc.) usually triggers late fees and interest, and repeated defaults can lead to higher penalties or director disqualification in serious cases. Our annual compliance plans are built to avoid this entirely.

Question 61

How often do I need to file compliance returns?

Accepted Answer

It depends on the filing: GST returns are monthly or quarterly, TDS returns are quarterly, and ROC annual filings (AOC-4, MGT-7) are once a year after your AGM. Our Compliance Calendar breaks down every deadline by month.

Question 62

Do LLPs have the same compliance requirements as Private Limited Companies?

Accepted Answer

No, LLPs generally have lighter compliance — no mandatory audit below a turnover threshold, and only two annual ROC filings (Form 11 and Form 8), compared to a Private Limited Company’s fuller filing calendar.

Question 63

Can I handle compliance myself instead of hiring help?

Accepted Answer

You can, but statutory compliance in India involves multiple portals, changing deadlines, and technical filings — most founders find it faster and safer to have a dedicated expert manage it, especially once fundraising or scaling adds complexity.

Question 64

What are the due dates?

Accepted Answer

AOC-4 is filed within 30 days of the AGM and MGT-7 within 60 days of the AGM (AGM itself by 30 September).

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