Starting a new business is always overwhelming. One of his jobs as an entrepreneur is to make decisions. Success in business takes more than a good idea or an efficient approach. This includes, among other things, knowledge of the company’s structure, legal identity and readiness for future expansion. Despite the many advantages of sole proprietorships, there are many misconceptions about companies. It is very important for Indian OPC companies to understand the myths surrounding one person company registration.

Every place you work for your business

Many people may not know that a limited liability company can be incorporated at home. The Companies Act 2013 [1] provides for unlimited company registration in residential areas. The company must also have a registered address and display its name at each location where it does business. A home address can be used to legally register your business. legal document

Scammers have asked entrepreneurs to submit all original documents during the business registration process. They used such dishonest tactics to try to fool unsuspecting people.Only scanned copies duly certified by the applicant will be accepted.

Service tax registration

There is a common misconception that service tax registration is required. Only those who provide taxable services are required to register for service tax. Therefore, it is beneficial for small businesses to offer service tax exemptions to small business owners. You are not required to register for service tax as long as your income does not exceed the specified limit.

The claim that a certain turnover is required for a company to be registered is false. The business owner was able to start a new business immediately. Honestly, you don’t have to make a certain amount of money to register your business. Allotment of shares

A common misconception is that all directors must own stock in a company. The actual shareholders are the people who have invested in the company. Company directors do not need to own shares.

Limited liability companies are subject to service tax

General sales tax and personal business tax rate (PF). Private companies may have higher tax rates than individuals and partnerships. However, there are several ways to take advantage of tax credits. Main concern

That way, you can see what is valid and what is accepted as valid. You can decide which industries to register and certify by selecting the industries of interest from this list.


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