How to Start A Company in India
Starting a private limited company in India involves several legal and procedural steps. This guide provides a step-wise step to help entrepreneurs navigate company registration smoothly. In this article, we will explore how to start a company in India
This information will be useful for those who are looking in a nutshell the steps involved in starting a Private Limited company in India
Identify Directors:
1. First and foremost identify the Directors of the Company. A minimum of two directors need to present and a Maximum of 8 is allowed.
2. All Directors should have a DIN (Directors Identification Number). If you do not have one you can apply DIN online athttp://www.mca.gov.in/MCA21/RegisterNewComp.html. FAQ on DIN www.mca.gov.in/MinistryWebsite/dc…
Documents required for DIN
A. Identity Proof (Any one of the following)
PAN Card
Driving License
Passport
Voter ID Card
Others (to be specified)
B. Residence Proof (Any one of the following)
Driving License
Passport
Voter ID Card
Telephone Bill
Ration Card
Electricity Bill
Bank Statement
Others (to be specified)
Apply for Company Corporation
- Once you have got your DIN then you need to apply for the Company name. You need to go with 5-6 names in the order which you prefer.If the name is not available then they go to the next one in the order you have provided.
- You need to apply online for the name availability. You need to Fill in Form 1A. Forms are available at this website: http://www2.mca.gov.in/MinistryWebsite/d…
Open Business Bank Account
- Once you have got your name approved you have to apply for the Incorporation of the Company. For this, you will have to prepare a To incorporate your company, submit the Memorandum of Association, which outlines your company’s operations and initial board of directors, along with Form 1 on the Ministry of Corporate Affairs website (http://www2.mca.gov.in/MinistryWebsite/d…). After approval, make 10-15 copies of your Certificate of Incorporation and Memorandum of Association, and compile them into a booklet. Next, open a Current account with a leading bank to activate your company’s financial operations.for carrying out your operations. You will need to submit a copy of the Certificate of Incorporation and Memorandum of Association along with the Board resolution to open the bank account.
- Then you need to apply for TAN and PAN for the Company
https://tin.tin.nsdl.com/pan/form49A.htm…
https://tin.tin.nsdl.com/tan/form49B.htm… - If your services are in the Software area you can apply for an STPI license which will give you certain benefits like Company need not pay tax for 5 years, and there will be no import or export duty levied on software/hardware, You will get office spaces at lower rates at STPI units. These are a few of the benefits of becoming an STPI member. All this you can do on your own or you can outsource these to a professional auditor.
If you did it through an Auditor and it took almost three weeks (up to Step 7 excluding STPI) all charges (excluding sTPI) would approximately cost you Rs.25,000.
The whole process was completed in 30 minutes after the e-Governance was launched.
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START A COMPANY IN INDIA..HERE’S HOW?
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