Blog Posts | Leegal - The Legal Solution

Partnership Firm Compliance: Tax, GST and Changes

by Gaurav Kumar

A partnership firm has no ROC filings, but must file its income tax return in ITR-5, get a tax audit if turnover crosses the threshold, deduct TDS where applicable, file GST returns if registered, and report changes in partners, name or address to the Registrar of Firms.

Eligibility & Compliance

23-Sept-2026

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Business Registration

Partnership Firm Registration in India: Complete Guide 2026

by Gaurav Kumar

A partnership firm is formed by a partnership deed between two or more persons under the Indian Partnership Act, 1932, and registered with the state Registrar of Firms. Registration is optional but strongly advised, because an unregistered firm cannot sue third parties to enforce contracts. A firm can have up to 50 partners.

Complete Guide

23-Sept-2026

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Business Registration

Convert a Partnership Firm into a Private Limited Company

by Gaurav Kumar

A registered partnership firm can convert into a private limited company by registering under Part I of Chapter XXI of the Companies Act, 2013. All partners must consent and become shareholders, the firm's assets and liabilities vest in the company, and the conversion can be tax-neutral under Section 47(xiii) if conditions are met.

Complete Guide

23-Sept-2026

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Business Registration

Insurance Broker License from IRDAI: Complete Guide

by Gaurav Kumar

Insurance brokers in India must obtain a certificate of registration from the Insurance Regulatory and Development Authority of India (IRDAI) under its insurance brokers regulations. Applicants choose a category (direct, reinsurance or composite), meet capital and net worth requirements, appoint a qualified principal officer and trained staff, and follow conduct and reporting norms.

Complete Guide

23-Sept-2026

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NBFC, Fintech & Insurance

Sale Deed Registration in India: Process, Stamp Duty, Checks

by Gaurav Kumar

A sale deed transfers ownership of immovable property from seller to buyer and must be registered with the Sub-Registrar under the Registration Act, 1908. The buyer pays stamp duty and registration fees as per state rates, deducts TDS under Section 194-IA where applicable, and completes mutation in municipal and land records after registration.

Complete Guide

23-Sept-2026

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Legal Documents & Disputes

P2P Lending Platform License (NBFC-P2P): Complete Guide

by Gaurav Kumar

A peer-to-peer lending platform must register with the Reserve Bank of India as an NBFC-P2P under the Master Directions for Peer to Peer Lending Platforms. The platform acts only as an intermediary: it cannot lend on its own account, must route funds through escrow accounts managed by a bank-promoted trustee, and must follow lender and borrower exposure caps.

Complete Guide

23-Sept-2026

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NBFC, Fintech & Insurance

Microfinance Company Registration: NBFC-MFI and Section 8

by Gaurav Kumar

Microfinance in India is carried on mainly by NBFC-MFIs registered with the RBI, which must meet net owned fund and lending norms under RBI's microfinance directions, or by Section 8 companies that lend without RBI registration within specified limits. Microfinance loans are collateral-free loans to households within the income limit set by RBI.

Complete Guide

23-Sept-2026

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Business Registration

Prepaid Wallet License (PPI Authorisation): Complete Guide

by Gaurav Kumar

Non-bank entities that want to issue prepaid payment instruments such as wallets and prepaid cards need authorisation from the RBI under the Payment and Settlement Systems Act, 2007 and RBI's Master Directions on PPIs. Applicants must be companies meeting net worth requirements, keep customer funds in an escrow account with a bank, and follow KYC, limits and interoperability rules.

Complete Guide

23-Sept-2026

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NBFC, Fintech & Insurance

NGO Registration in India: Types, Process and Tax Benefits

by Gaurav Kumar

An NGO in India is registered as a trust, a society or a Section 8 company. After registration, it should obtain PAN, open a bank account, apply for 12A and 80G, register on NGO Darpan for government grants, register for CSR (Form CSR-1) to receive corporate CSR funds, and obtain FCRA approval before accepting foreign donations.

Complete Guide

23-Sept-2026

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Business Registration

Convert a Sole Proprietorship into a Private Limited Company

by Gaurav Kumar

A sole proprietorship cannot legally convert by itself, because it is not a separate entity. Instead, you incorporate a private limited company and transfer the proprietorship's business, assets and liabilities to it through a business transfer agreement. The transfer can be tax-neutral under Section 47(xiv) of the Income Tax Act if conditions such as the proprietor holding at least 50% of voting power for five years are met.

Complete Guide

23-Sept-2026

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Business Registration

Public Limited Company Registration: Complete Guide 2026

by Gaurav Kumar

A public limited company is a company under the Companies Act, 2013 that needs at least seven members and three directors, has freely transferable shares, and can raise capital from the public by listing. It is incorporated through SPICe+ like a private company but faces stricter compliance, including independent directors and committees once thresholds are met.

Complete Guide

23-Sept-2026

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Business Registration

Sole Proprietorship Registration in India: Complete Guide

by Gaurav Kumar

A sole proprietorship has no dedicated registration law in India. The business is identified with its owner and made official through registrations such as GST (if applicable), Udyam, Shop and Establishment licence and a current bank account in the trade name. It is quick and cheap to start, but the owner has unlimited personal liability.

Complete Guide

23-Sept-2026

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Business Registration

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