ENQUIRY FORM

SHARE TRANSFER IN COMPANIES


The investment has made in private limited company to do the business which is called share capital, which can transferable any time to any person, Firm, companies etc by the shareholder of the company. Articles of Association restricted the Share Transfer in Private Limited Company. So prior to proceed the share transfer in Private Limited Company, must be reviewed the Articles of Association (AOA) Rights of Pre-redemption: A share holder can sell of any part of the shares or whole. A sale of shares must be first offered to the existing share holder of the Company at a price determined by the Directors or Auditors of the Company. The value of shares can be determined based on the formula / method prescribed in the Articles of Association (AOA). If anyone no wishes to purchase of shares, freely can transfer the shares to outsider. When can refuse by Directors : The Directors may have the powers to refuse registration of transfer of shares under certain circumstances prescribed in the Articles of Association (AOA). Private agreement between the shareholder are not binding either company or Shareholders

FEATURES OF SHARE TRANSFER


Salary Return

Salary Income

A Person who working with any organization and is getting salary has to file income tax return with Government of India. If a person received a salary is less than Rs.2.50 Laksh no required to submit the return as its exempted under the Income tax. A person has to file the income tax return in the Form ITR-1.

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House Property

House Property Income

Any amount received from Rental of House Property, should declare its income when filing the Income tax Return. The amount paid on Water Tax, Property Tax can be deducted from income from House Property. 30% of Standard Deduction applicable on the income addition to the Water Tax, Property Tax Deduction

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Presumptive Tax

Presumptive Taxation

Presumptive Taxation is introduced for Small Tax payers and who are not willing to maintain the Account under the Income Tax Act. Traders, Manufactures should declare 8% of income on Turnover and 50% of income should be declaring on Services. Under the Presumptive Taxation no required to maintain the Books of Accounts

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Business Return

Business Income

A individual, Company, Firm doing the business to earn the revenue. The income from Business or Profession submits in the Form ITR4 for individual, Firm and ITR 6 for companies. A Tax slab for company is 30% with 3% education cess. Late fee applicable in case of nonpayment of advance tax if applicable

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Pre-redemption

Rights of Pre-redemption: A share holder can sell of any part of the shares or whole. A sale of shares must be first offered to the existing share holder of the Company at a price determined by the Directors or Auditors of the Company. The value of shares can be determined based on the formula / method prescribed in the Articles of Association (AOA). If anyone no wishes to purchase of shares, freely can transfer the shares to outsider.

When can refuse Share Transfer by Director?

The Directors may have the powers to refuse registration of transfer of shares under certain circumstances prescribed in the Articles of Association (AOA). Private agreement between the shareholder are not binding either company or Shareholders

DOCUMENTS REQUIRED


Step by step for Share Transfer of Private Limited Company.

  • Review AOA that any restriction on share Transfer, if any must be addressed
  • A reason to share transfer in writing must be given to the Directors of the Company
  • A price to be calculated as per the AOA and first offers to be given to existing Directors.
  • A company must give notice to other shareholders about the availability of shares, the last date to purchase the shares and the price at which the share are available

How to Transfer Shares of Private Limited Company

  • Obtain share transfer deed in the prescribed in Format
  • Execute the share transfer Deed duly signed by the Transferor and Transferee
  • Applicable stamp duty to be paid on share Transfer Deed as per Indian Stamp Act and Stamp Duty Notification in force in State.
  • A witness to be signed on the Share Transfer Deed with name, Address
  • Transferor produce the Share Certificate or Allotment Letter with Transfer Deed to company.

Final

  • • The company must process the documents if approved, issue new share certificate in the name of the Transferee

HOW LONG DOES IT TAKES?


Step

01

Collection of Documents like Bank statement, Bills, Voucher, etc

1 DAY

Step

02

Preparation of Statement to arrive tax
 

1 DAY

Step

03

Submission of Return after getting the approval and payment of Tax

1 DAY

Step

04

Acknowledgment of Income Tax

1 DAY

Business Plan

Transfer to Person

Rs.8300/-

  • Changes with Individual

Transfer to Entity

Rs.13999/-

    • Share Transfer from Entity to Entity

Transfer - Foreign

Rs.23999/-

  • Share Transfer to Foreign Entity of Nationals

Frequently Asked Questions

What is a Personal loan?
Personal loan is a 1-5 year unsecured loan given by banks, NBFC’s (Non Banking Finance Companies) or P2P lending platforms without asking for any collateral, guarantor or hypothecation of any assets. The ultimate usage of a personal loan is left to the discretion of the borrower. In our experience, the borrowers generally use a personal loan for debt consolidation, repaying high cost debt, meeting any family or medical emergency, wedding, vacations, home renovation, rental deposits, business needs for an SME, buying certain assets etc.
How is my loan eligibility calculated?
Loan eligibility is dependent on primarily the following factors: The company where you work. Every bank has a list of companies running into thousands which they have categorised into segments like A, B, C etc depending on the credentials and financials of your employer. The higher the category the higher is the loan eligibility chances. Quantum of loans and credit card outstanding that you already have. Typically a bank will not give a loan if the total EMI obligation (including the current personal loan that your are trying to apply for) exceeds 50-75% of your total net take home salary. Your gross/net salary Your credit score as reflected in your CIBIL or Equifax report. Having a good credit score is a necessary but not a sufficient criteria.
Is pre closure allowed in personal loans?
Some banks have a lock-in of 6 months to a year while some banks allow you to pre close even after the 1st EMI has been debited from your bank. There may also be restrictions that you can only use your own funds (and not the balance transfer cheque of another bank) to pre close a loan. In addition, banks may allow pre closure at no cost or may levy a pre closure fee (2-5% of the amount being pre-closed). Please ask for clarifications to our or the banks’ loan advisor on all these factors before signing the loan document.
What is the minimum and maximum loan limit offered for personal loan?
Generally, the minimum amount loan amount is Rs 50,000 and maximum amount is Rs 30,00,000. Higher loan amounts are dependent on a personal discussion that a bank may want to have with the borrower and then take a call on the loan amount.
Documents required while applying for a personal loan?
One need to provide an identity proof, residence proof, last 3 months salary slip, last 6 months bank statement and a passport sized photograph. Banks may also ask for additional documents later like Form 16, appointment letter, company ID card, previous company relieving letter
How long does it take to disburse the personal loan?
ClearFilings will work with the banks to try and get you the loan within 2-5 working days of submitting completed documents.
How does personal loan repayment happen?
All personal loans repayment happen in the form of an EMI (Equated Monthly Installment) through the customers bank account. The customer needs to give few PDC’s (Post dated cheques) and sign an ECS mandate in favour of the bank disbursing the loan.
What happens if I miss an EMI payment or there is an ECS bounce?
The bank will levy certain ECS bounce charges/penalties. In addition it will get reported in your credit report. Depending on the severity of the default it can have serious impact on your future credit possibilities like a home loan, car loan etc. In addition, the banks can also take legal action against the borrower.

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