• FIRC, current account, and GST

I want to start a business in Delhi. I have a lot of debt which eventually I would want to repay with the earnings from my business.

If I start a Pvt ltd company having shares in my name then 
If I start OPC then
If I start LLP then

1. How to withdraw profits from my business regularly other than my salary as a director? Or in LLP as a partner from the company bank account regularly?
2. How to clear my personal loans debts with the money in my company account as I am doing this business and I am the owner with most of the shares or largest percentage in LLP?
3. In Pvt ltd can I hold 100% share if not then what is the maximum number of shares a shareholder can have in a Pvt ltd company?
4. In LLP can I hold 100% partnership hold if not then what is the maximum percentage of hold I can have in LLP?
5. Can I withdraw funds from Pvt Ltd/OPC/LLP using a company debit card from atm for my personal use?
6. Can I increase or decrease salary as my will at any time of the year in Pvt ltd/OPC? If yes is there a specific procedure?
7. How to select a name for llp/opc/pvt limited If I want to deal in multi products in eCommerce?
8. Which is a good software for bookkeeping other than Tally for eCommerce?
Asked 22 days ago in Corporate Tax

- As you are starting a new business, it is advisable to start with sole propertiorship for which no registration is required with any authority. Only current account, GST registration is required. If the business scales up you can then convert to LLP/OPC/Pvt. Limited company. 

- For book keeping, tally and zoho is good. Both are cloud based software's.

Vivek Kumar Arora
CA, Delhi
4079 Answers
346 Consultations

5.0 on 5.0



Considering the discussion on the detailed query and time involved, it is advisable to have a phone consultation on for advice on one to one basis.

Lakshita Bhandari
CA, Mumbai
5475 Answers
551 Consultations

5.0 on 5.0

Dear Sir,


Hope you are doing well !!


It is advisable to take a phone consultation for detailed discussion.


We may assist you in entire procedure.

Payal Chhajed
CA, Mumbai
5084 Answers
157 Consultations

5.0 on 5.0

Ask a Chartered Accountant

Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
  Ask a CA