The thought of starting a business in India can be thrilling. We all know that registering a business in India legally is relatively more complicated. We at Register your business is a leading company that provides services for registration of partnership firms in India, and we would like to help you to make the registration as easy as possible. Read this article to learn how we assist you with company registration in India legally.
Key Takeaways
● What are the legal requirements for business registration in India?
● How do you select an appropriate business structure?
● What are the compliance and post-incorporation requirements?
Choosing an Appropriate Business Structure
Selecting the proper business structure is very crucial. It greatly impacts taxation, compliance obligations, and the liability of the company. Some of the common business structures include the following:
Private Limited Company
This structure is suitable for companies seeking limited liability and the ability to raise capital. A PLC must have two directors and two shareholders.
Limited Liability Partnership
This structure combines the benefits of limited liability along with the flexibility of a partnership. They are perfectly suitable for small businesses and professional services.
One Person Company
An OPC allows a single business owner to operate with limited liability protection.
Partnership Firm
A partnership firm is perfectly suitable for businesses having multiple owners who share the profits and liabilities together.
Sole Proprietorship
This is the simplest form of business. This structure includes only one individual who operates the business.
Acquiring a Digital Signature Certificate
While you apply online for registration of a firm in Delhi NCR, you must obtain a digital signature certificate. ADSCensures secured and legally valid online transactions for the business. It can be obtained from the certified authorities recognized by the Ministry of Corporation Affairs.
Obtaining Director Identification Number
A director identification number is essential for individuals who are aiming to become a director of a company. For the newly registered companies, a DIN can be applied through the Spice + (INC-32) form during the business incorporation process. Our professionals can help you obtain a DIN number.
Company Name Reservation
Choosing a unique name for your business is important. Be it a partnership firm registration in Indiaor any other form, you must reserve a name for your business through the MCA’s Spice+ form. When selecting a name, make sure that it complies with the Companies (Incorporation Rule) of 2014 to avoid rejection.
Preparing Charter Documents
Drafting the Memorandum of Association and the Articles of Association is very crucial. The MoA lists the score and outline of the business, while the AoA outlines the regulations and internal rules of a business. We can help you file these documents electronically through the INC-33 and INC-34 forms.
Obtaining PAN Number and TAN Number
Once you incorporate your business, apply for the PAN and TAN numbers. They are crucial for tax-related transactions. It can be obtained through the SPICe + form. The certificate of incorporation is issued with the PAN. You will also receive an email from the MCA with a PAN and TAN number.
Additional Registrations
Additional registration is essential based on your business activities.
● GST registration is mandatory for businesses exceeding the prescribed turnover threshold or engaged in inter-state supply.
● Professional tax registration is mandatory in certain states for businesses employing staff members.
● Shops and establishment registration are mandatory for businesses operating from a physical location.
Compliance and Post-Incorporation Requirements
You should ensure ongoing LLP compliances in India after registering your business.
● Use the certificate of incorporation, MoA, AoA, PAN and TAN number to open a bank account for the business.
● Maintain accurate financial records with accounting and bookkeeping.
● File the financial statements and annual returns with the MCA.
● Comply with GST tax returns and tax filings.
Reach out to Register your Business through our WhatsApp Chat.
We have an active customer support team available. If you have any issues with Private Limited Company Compliances in New Delhi, Indiaor any other aspect, you can also contact our chat support. They will guide you through every aspect of business training and help you solve your issues.
Conclusion
Navigating the legal requirements for a business registration in India involves several steps. To avoid any problems, you must also follow certain rules. By collaborating with our business registration services, you can guarantee adherence to all terms and conditions while expediting the process.
FAQ
● What legal documents are required to start a business in India?
The major documents required to start a business in India are a Business Plan, MOA, AOA, PAN, TAN, EIN, Trademark registration, and Certificate of Incorporation, among others
● Are unregistered businesses in India illegal?
Operating a business in India without registration is risky and illegal. Your business might face penalties and fines
