8 Steps to start a Company in India
If you starting a new business in India this article definitely can help you
The step-by-step guide to starting a Company in India:
1. Obtain DIN
Obtain the provisional Director Identification Number by filing application Form DIN-1 online. The application form must then be printed and signed and sent for approval to the ministry along with proof of identity and address. Upon verification and approval, a permanent DIN is issued.
2. Get DSC
The digital signature certificate can be obtained from one of six private agencies authorized by MCA 21. Company directors must submit the prescribed application form along with proof of identity and address.
3. Book the company name online
Company name approval must be done electronically. The applicant can check the availability of the desired company name on the MCA 21 web site. A maximum of 6 names may be submitted. Once approved, the selected name appears on the website.
4. Notary the company documents
The request for stamping the incorporation documents should be accompanied by unsigned copies of the Memorandum and Articles of Association (MAA), and the payment receipt. The Superintendent returns the copies, one of which is duly stamped, signed, and embossed. Then the MAA must be signed by the company promoters and required information filled in their own handwriting.
5. Get the Certificate of Incorporation
Forms e-form 1; e-form 18; and e-form 32 are required to be electronically filed on the website of the Ministry of Company Affairs: Scanned copies of the consent of the initial directors, and also of the signed and stamped form of the MAA must be attached to Form 1. One copy of the MAA, Articles of Association, Form 1, Form 32, Form 18 and the original name approval letter, consent of directors and stamped power of attorney must be submitted to the Registrar of Companies. The certificate of incorporation is sent automatically to the registered office of the company by registered mail.
6. Get a PAN
The PAN application is made using Form 49A. After PAN is obtained a printed PAN card would be delivered. The application for PAN can also be made online but the documents still need to be physically sent for verification.
7. Get a TAN
Tax Account Number The application for TAN must be filed using Form 49B and submitted at any TIN Facilitation Center. After verification of application, the same is sent to the Income Tax Department and the TAN is issued. The application for a TAN can be made either online through the NSDL website or offline.
8. Register GST
Every business whose Annual turnover exceeds Rs 20 lakh (for special states, the amount is Rs 10 lakh) has to register for GST. Please go to the GST portal and follow the procedure instructed.