Starting a business in India can be a complex process. One of the most important steps in this process is registering your company with the appropriate authorities. This ensures that your business is legally recognized and can operate without any hindrances. In this article, we will explore the various business registration services available in India, with a focus on company registration.
Company registration is the process of legally incorporating a company in India. It is mandatory for any business that wants to operate as a company. The process involves obtaining a unique identification number (UIN) and registering the company with the Registrar of Companies (ROC). Once registered, the company becomes a separate legal entity from its owners, and the owners are not personally liable for the company's debts or obligations.
India allows for the registration of several types of companies, including:
Private Limited Company: A private limited company is a type of company where the liability of the members is limited to the amount of shares they hold. This means that the shareholders' personal assets are not at risk if the company incurs any debts or losses.
Public Limited Company: A public limited company is a type of company where the shares are publicly traded on the stock exchange. This means that the public can buy and sell shares in the company, and the liability of the members is limited to the amount of shares they hold.
One Person Company: An OPC is a type of company where only one person is the owner and director of the company. The liability of the owner is limited to the amount of shares they hold.
Limited Liability Partnership: An LLP is a type of company where the liability of the partners is limited to the amount of their contribution to the company. It is a popular choice for professional service providers, such as lawyers and accountants.
Sole Proprietorship : A Sole Proprietorship business, registration is not required as it is identified through alternate registrations, such as GST registrations. However, its liability is unlimited and it also doesn’t have perpetual existence.
Nidhi Company : It is a company classified as an NBFC (a Non-banking financing company) and registered under Section 406 of the Companies Act 2013. The main business of such a company is to facilitate lending money between the core members of the company. This way, members (or shareholders) are encouraged to save money and invest them within the company.
Startup India Scheme : The company must be incorporated as a private limited company,partnership firm or a limited liability partnership. An incubation fund, an angel fund, or a private equity fund must finance the business in order for DIPP to approve it.
Special Business Entities :
The process of registering a company in India involves several steps. These are:
Obtain a Digital Signature Certificate (DSC): A DSC is required to file the necessary documents for company registration. It is a digital signature that verifies the authenticity of the person filing the documents.
Obtain a Director Identification Number (DIN): A DIN is a unique identification number for directors. It is mandatory for all directors of the company.
Choose a Company Name: The company name should be unique and not infringe on any existing trademarks. The name should also comply with the guidelines laid down by the Ministry of Corporate Affairs.
Draft the Memorandum of Association (MOA) and Articles of Association (AOA): The MOA and AOA are legal documents that outline the company's objectives and rules of operation.
File the Documents with the ROC: The documents, including the MOA and AOA, need to be filed with the ROC. Once the documents are verified, the ROC issues a Certificate of Incorporation.
Obtain the Permanent Account Number (PAN) and Tax Account Number (TAN): The PAN and TAN are required to conduct business in India and to pay taxes.
Form No. INC-22 need to file if not confirmed at the applying for incorporation for confirmation of registered office after
Form No. INC-20A need to file As Business Commencement Form with in 180 days from the date of incorporation.
Registering your company offers several benefits, including:
Limited Liability: Once the company is registered, the liability of the owners is limited to the amount of shares they hold.
Separate Legal Entity: The company is a separate legal entity from its owners, which means that it can own assets, enter into contracts, and sue or be sued.
Access to Funding: Registered companies have access to funding from banks, investors, and venture capitalists.
Credibility: Registered companies are seen as more credible and trustworthy, which can attract more customers and business opportunities.
We at Sree Anantha Padhmanabha Swamy Associates LLP, help our customers throughout the process of Business Registration.
Starting a business in India can be a experience, but it also involves a lot of legal requirements, including business registration and licensing. These processes ensure that your business is operating legally and can help you avoid costly fines and legal issues. In this article, we will discuss the importance of business registration and licensing in India and the steps you need to take to obtain them.
Business registration in India involves incorporating your business with the Ministry of Corporate Affairs (MCA) and obtaining a certificate of incorporation. There are different types of legal structures you can choose from, including sole proprietorships, partnerships, private limited companies, public limited companies, and limited liability partnerships.
There are several reasons why business registration is important in India, including:
Legal Protection: Business registration provides legal protection to the owners and shareholders of the company. This means they are not personally responsible for any debts or legal issues the company may incur.
Credibility: Registered businesses are viewed as more credible and trustworthy. This can help attract customers, investors, and other business opportunities.
Access to Funding: Registered businesses have access to funding from banks, investors, and other financial institutions.
Compliance: Business registration ensures that your business complies with all legal requirements, including tax laws, labor laws, and environmental regulations.
The following are the steps you need to take to obtain business registration in India:
Choose a Legal Structure: Choose a legal structure for your business, such as a sole proprietorship, partnership, private limited company, public limited company, or limited liability partnership.
Obtain Digital Signature Certificate (DSC): Obtain a Digital Signature Certificate (DSC) for at least one director of the company. This is required to sign the incorporation documents electronically.
File for Name Approval: File for name approval with the Registrar of Companies (ROC) in the state where you plan to register your company. The name must be unique and not already in use by another company.
Prepare and File Incorporation Documents: Prepare and file the incorporation documents, including the Memorandum of Association (MOA) and Articles of Association (AOA).
Obtain Certificate of Incorporation: Once the ROC approves the incorporation documents, you will receive a certificate of incorporation, which officially registers your company with the government.
Business licensing in India involves obtaining the necessary permits and licenses required to operate your business legally. This includes obtaining a business license, zoning permit, health permit, and other industry-specific licenses and permits.
Business licensing is important in India because it ensures that your business operates within the law's confines. Failure to obtain the necessary licenses and permits can result in fines, legal issues, and even the closure of your business. Additionally, many customers and business partners will only work with businesses that have the necessary licenses and permits, so obtaining them can increase your credibility and attract more business opportunities.
The specific steps you need to take to obtain business licensing in India will vary depending on your location, industry, and type of business. However, some common steps include:
Research License Requirements: Research the licenses and permits required for your specific industry and location, and obtain them from the appropriate government agencies.
Obtain a PAN Card: Obtain a Permanent Account Number (PAN) Card from the Income Tax Department. This is required for tax purposes.
Register for GST: If your business sells goods or services, you will need to register for the Goods and Services Tax (GST).
Obtain Other Permits: Depending on your industry, you may need to obtain additional permits.
A change in a private limited company refers to any modification made to the company's structure, operations, or ownership. This can include changes in the company's name, registered office address, directors, shareholders, share capital, and other crucial aspects. The steps to make changes in a private limited company in India can vary depending on the type of change being made, but the general process involves the following:
Identify the Change: The first step is to identify the change that needs to be made in the private limited company.
Board Meeting: A board meeting should be called to discuss and approve the change. The minutes of the meeting should be recorded, and a copy should be kept in the company's records.
Shareholder's Meeting: A shareholder's meeting should be called if the change involves altering the company's share capital or structure. Shareholders must be given adequate notice of the meeting, and the minutes of the meeting should be recorded and kept in the company's records.
Filing Forms with ROC: After the change has been approved by the board of directors and shareholders, the company must file the appropriate forms with the Registrar of Companies (ROC). This can include forms such as Form MGT-14, Form DIR-12, Form SH-7, or Form INC-22, depending on the type of change being made.
Obtain Necessary Approvals: Depending on the nature of the change, the company may need to obtain additional approvals from other government agencies or regulatory bodies, such as the Ministry of Corporate Affairs, Reserve Bank of India, Securities and Exchange Board of India, or Department of Industrial Policy and Promotion.
Update Company Records: Once the change has been approved and all necessary approvals have been obtained, the company's records must be updated to reflect the change. This includes updating the company's Memorandum and Articles of Association, share certificates, and other relevant documents.
It is important to note that the process for making changes in a private limited company in India can be complex and time-consuming, and it is important to follow all legal requirements and regulations to ensure that the changes are made correctly and legally. We at Sree Anantha Padhmanabha Swamy Associates LLP provide professional advice to our clients to ensure compliance with all legal requirements.
A change in a Limited Liability Partnership (LLP) refers to any modification made to the LLP's structure, operations, or ownership. This can include changes in the LLP's name, registered office address, designated partners, partners, contribution, and other crucial aspects. The steps to make changes in an LLP in India can vary depending on the type of change being made, but the general process involves the following:
Identify the Change: The first step is to identify the change that needs to be made in the LLP.
Board Meeting: A meeting of partners should be called to discuss and approve the change. The minutes of the meeting should be recorded, and a copy should be kept in the LLP's records.
Filing Forms with ROC: After the change has been approved by the partners, the LLP must file the appropriate forms with the Registrar of Companies (ROC). This can include forms such as Form 3, Form 4, Form 8, Form 11, or Form 15, depending on the type of change being made.
Obtain Necessary Approvals: Depending on the nature of the change, the LLP may need to obtain additional approvals from other government agencies or regulatory bodies, such as the Ministry of Corporate Affairs or Department of Industrial Policy and Promotion.
Update LLP Records: Once the change has been approved and all necessary approvals have been obtained, the LLP's records must be updated to reflect the change. This includes updating the LLP Agreement, contribution statement, and other relevant documents.
It is important to note that the process for making changes in an LLP in India can be complex and time-consuming, and it is important to follow all legal requirements and regulations to ensure that the changes are made correctly and legally. We at Sree Anantha Padhmanabha Swamy Associates LLP provide professional advice to our clients to ensure compliance with all legal requirements.
Conversion of company registration refers to the process of changing the legal structure of a company from one type to another, such as converting a private limited company to a public limited company or converting a private limited company to a Limited Liability Partnership (LLP). The steps involved in the conversion of company registration in India can vary depending on the type of conversion being made, but the general process involves the following:
Identify the Type of Conversion: The first step is to identify the type of conversion that needs to be made and ensure that the company meets the eligibility criteria for the conversion.
Board Meeting: A board meeting should be called to discuss and approve the conversion. The minutes of the meeting should be recorded, and a copy should be kept in the company's records.
Shareholder's Meeting: A shareholder's meeting should be called to approve the conversion. Shareholders must be given adequate notice of the meeting, and the minutes of the meeting should be recorded and kept in the company's records.
File Forms with ROC: The company must file the appropriate forms with the Registrar of Companies (ROC). This can include forms such as Form INC-27 or Form URC-1, depending on the type of conversion being made.
Obtain Necessary Approvals: Depending on the nature of the conversion, the company may need to obtain additional approvals from other government agencies or regulatory bodies, such as the Ministry of Corporate Affairs, Reserve Bank of India, Securities and Exchange Board of India, or Department of Industrial Policy and Promotion.
Update Company Records: Once the conversion has been approved and all necessary approvals have been obtained, the company's records must be updated to reflect the new legal structure. This includes updating the company's Memorandum and Articles of Association, share certificates, and other relevant documents.
It is important to note that the process for the conversion of company registration in India can be complex and time-consuming, and it is important to follow all legal requirements and regulations to ensure that the conversion is made correctly and legally. We at Sree Anantha Padhmanabha Swamy Associates LLP provide professional advice to our clients to ensure compliance with all legal requirements.
We are registered as TIN Facilitating Centre with PROTEAN eGOV TECHNOLOGIES LIMITED (formerly known as NSDL eGovernance Infrastructure Limited), acting as an Intermediary between PROTEAN & Individuals. And the applications forms can be downloaded from our website www.ananthaassociates.co.in Please fill in the forms and send it to us. We shall process the same and obtain your PAN hassle free. We render assistance in the following areas.
For Individuals:
For Corporates:
The process:
Instructions:
Clearly mention your email id as well as the phone number in the application as the soft copy of the Pan card will also be sent in addition to the hard copy. Your phone number will help in case of any discrepancies that need to be corrected in the application form.
Tracking your application:
The applicants may track the status of their application after three days by:
Normally 15 days is required to process the application (provided the application form is in order).
TAN applications and we are registered with PROTEAN eGov Technologies Limited (Formerly Known as NSDL eGovernance Infrastructure Limited) as TIN facilitation centre and authorized partners for processing TAN application forms. We can partner with you in obtaining TAN (Tax deduction and collection account number), which is a mandatory requirement for tax deduction. The application forms can be downloaded from our website www.ananthaassociates.co.in Please fill in the forms and send it to us. We shall process the same and obtain your TAN hassle free.
Status Track:
The applicants may track the status of their application after three days by:
TIN facilitation centers approved by PROTEAN eGov Technologies Limited (Formerly known as NSDL eGovernance Infrastructure Limited) to facilitate deductors/collectors to file their e-TDS/e-TCS returns. We offer expert level guidance in the e-filing of TDS/TCS returns. We offer expert level guidance in the e-filing of TDS/TCS returns.
The process:
The Income Tax department has notified revised file formats for preparation of TDS and TCS returns in electronic form, which the deductors/collectors can prepare and submit in our designated branches.
If the e-TDS/e-TCS return file is complete in all aspects, we will issue a provisional receipt which is deemed to be the proof of e-TDS/e-TCS return filed.
We also undertake electronic data conversion activity to enable the deductors not familiar with the file formats to file the statements electronically within the prescribed time limit.
