First Step To Start Your Business
Of late we have witnessed an upsurge of small entrepreneurs venturing into varied range of activities around us.These small businesses are involved in array of activities like food,transportation,delivery,arts ,education,sports and so on..
Some basic requirements are mandatory irrespective of nature of activity to adhere to our Indian legal and taxation system .If these requirements are complied with business activities can be carried out much smoothly without any hassles.
Every individual or group of individuals who wish to start on any activity must have following basic documents in possession:
Pan Card of individual
Aadhar Card if available
Passport or election voter id card
Utility bill of residential address along with rent agreement if it's a rented premises
Mobile bill/Telephone of individual
Passport size photos
The premises from which business will be carried on should be decided and following documents are required with regards to those premises:
Ownership agreement if owned premises
Rent agreement if rented premises
Utility bill having address of the premises
No Objection Certificate (NOC) from owner of premises for carrying out activity from rented premises
The type of entity should be decided. It can be either of following:
Proprietary concern with or without a business name
Partnership firm
Limited Liability Partnership(LLP)
One person Company (OPC)
Private limited Company
Once the type of entity is decided formation process can be initiated.Following are the steps involved broadly:
Proprietary concern:
Shop act licence needs to be procured from local municipal council
Application for Pan card of proprietor (if pan not alloted already)
Tan number application if required
Service tax registration in case of services business if required
VAT registration if required
Current account in name of firm can be opened with bank once shop act and Pan number is received
Excise Registration if required
Partnership Firm:
Partnership deed needs to be prepared duly stamped .Amount of stamp duty depends upon capital involved.
Firm can be registered with Register of firms but that is optional. Registered firm enjoys certain benefits over unregistered firm in respect of legal actions and taxation
Pan card application
Tan number application if required
Service tax registration in case of services business if required
VAT registration if required
Shop act licence needs to be procured from local municipal council
Current account in name of firm can be opened with bank once shop act and Pan number is received
Excise Registration if required
Limited Liability Partnership
Digital signature(DSC) of designated partners need to be procured
We need the following self certified documents of individuals for DSC and DIN.
Copy of PAN Card.
Copy of Address proof-Passport/Voterid card/Aadharcard/Driving Licence.
Passport size Photograph
Aadhar Card for DSC (If Aadhar based DSC is to be taken)
Application form for DSC is to be attested by authorised bank official in which the individual holds the account
After DSC ,Director Identification number (DIN) number is to be applied for.
Availability of proposed name needs to be checked with MCA
LLP deed needs to be prepared and stamped/franked .Stamp duty depends upon capital involved
The stamped agreement needs to be registered with Registrar of companies(ROC)
Necessary forms need to filed with ROC along with payment of requisite fees
Receipt of Incorporation certificate
Pan card application
Tan number application if required
Service tax registration if required
VAT registration if required
Shop act licence needs to be procured from local municipal council
Excise Registration if required
One Person Company (OPC)
Digital Signature Certificate [DSC] for the proposed Director(s)to be procured
Application for Director Identification Number [DIN] for the proposed director(s).
We need the following self certified documents for DSC and DIN.
Copy of PAN Card.
Copy of Address proof-Passport/Voterid card/Aadharcard/Driving Licence.
Passport size Photograph
Aadhar Card for DSC (If Aadhar based DSC is to be taken)
Application form for DSC is to be attested by authorised bank official in which the individual holds the account
Application to the MCA for availability of proposed name.
Preparation of Agreement
Signing and filing various documents including Memorandum of Association and Articles of Association [MOA & AOA] with the Registrar of Companies electronically.
Payment of Requisite fee to Ministry of Corporate Affairs and also Stamp Duty.
Scrutiny of documents at Registrar of Companies [ROC].
Receipt of Certificate of Registration/Incorporation from ROC.
Pan card application
Tan number application if required
Service tax registration if required
VAT registration if required
Shop act licence needs to be procured from local municipal council
Excise Registration if required
Private limited Company
Digital Signature Certificate [DSC] for the proposed Director(s)to be procured
Application for Director Identification Number [DIN] for the proposed director(s
We need the following self certified documents of individuals for DSC and DIN.
Copy of PAN Card.
Copy of Address proof-Passport/Voterid card/Aadharcard/Driving Licence.
Passport size Photograph
Aadhar Card for DSC (If Aadhar based DSC is to be taken)
Application form for DSC is to be attested by authorised bank official in which the individual holds the account
Check Availability of proposed name and thereafter filing of the proposed name with MCA
Preparation and printing of MOA and AOA
Payment of stamp duty online
Filing of MOA ,AOA and other documents online with ROC along with payment of requisite fees
Obtain Certificate of incorporation
Registration of registered address with ROC
Pan card application
Tan number application if required
Service tax registration if required
VAT registration if required
Shop act licence needs to be procured from local municipal council
Excise Registration if required
