How to register a new business or company in India
By Trupthi
This article is restricted to opening a Private limited firm only.
Things You'll Need
- Minimum 2 directors are required to start a private firm/company.
- Proposed name of the company
- Proposed registered business address and manufacturing address applicable to manufacturing industry.
Steps
1
- Obtain director identification numbers for minimum 2 resident directors.
- Obtain Digital signatures for atleast one of the directors.
- Decide on the name of the company and obtain the approval from Registrar of Companies.
2
- Incorporation of the company with a minimun authorized capital of rupees 1 lakh.
- Registerations under the income tax act include obtaining PAN(Permanent account number) and TAN(Tax deduction account number)
- Registeration under Karnataka Shops and commercial establishment act.
3
- Registeration under Karnataka profession tax act
- Registeration under VAT(Value added tax) and CST(Central sales tax)
- For export, please obtain export, import code.
Tips
- Consult a professional, either a CA or CS experienced in this field.
- Total governmental related cost can be up to rupees 25000(twenty five thousand) for an authorized capital of 1lakh
- The consultant may chrge you an additional cost of 25000 rupees.
- Minimum expenses incurred can be up to 50000 rupees
Caution
The costs do not include any specific registrations like pollution control board, and other registerations related to specific business activities.and the above figures are indicative and not the exact amount.
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