Here, is a step by step guide to register your business in India:
- Obtain Director Identification Number (DIN) - It’s been obtained by filing application Form DIN-1 online. It must be printed after that and signed and then sent for approval to the ministry along with proof of identity and address. Upon approval, a Permanent DIN is issued. This is the basic step for registering your business.
- Obtain Digital Signature Certificate – The digital signature certificate can be obtained through one of six private agencies authorized by MCA 21. The directors of company must submit the prescribed application from along with proof of identity and address because this is must to submit.
- Reserve The Company Name Online - Company name approval should and must be done electronically. The applicant after then can check the availability of the desired company name on the MCA 21 website. In this maximum number of names that can be selected are 6 and only these 6 can be submitted not more than that. Once approved, the selected name appears on the website.
- Stamping Of Company’s Documents – The request of stamping the incorporation documents should be accompanied by unsigned copies of Memorandum and Articles of Association (MAA) and the payment receipt. After this 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 after it the required information is filled in their own handwriting.
- 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 the form signed and stamped form of MAA must be attached to form 1. After this, 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. After all this, the certificate of incorporation is sent automatically to the registered office of the company registered mail.
- Making a Seal – Every company requires a seal to issue share certificates and other documents. The cost depends on the number of words to be engraved, the number of seals required and the time period that has been set for delivery this is an important step that needs to be done carefully.
- Obtain a Permanent Account Number – The PAN application is made using the Form 49A. Once a PAN is obtained a printed PAN will be delivered. The application for PAN can also be made online if you want to apply online but the documents still need to be sent physically for verification because it can’t be sent online.
- Obtaining a Tax Account Number – The application of TAN must be filed using Form49B and can be submitted at any TIN Facilitation Centre. After verification of application, the same again 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 can be done offline as well.
- Register with the Office of Inspector, shops and Establishment Act (state/municipal) – A statement containing the employer’s and manager’s name, and the name of Establishment and it’s postal address and also category , this all must be sent to local shop inspector with theapplicable fees. Establishment must be registered within 30 days of the opening of the business.
- GST registration – Every business whose Annual turnover exceeds Rs. 20 lakh (for some exceptional states, the amount is Rs. 10 lakh) has to register for GST. Please go to the GST portal and you can find the procedure to file company for registration in GST. All details are available there and it’s only mandatory when your company turnover exceeds 20lakh otherwise you do not have to get it registered if not an exception.
- Register for Profession Tax at the Profession Tax Office (state) – According to the section 5 of the Profession Tax Act, every employer who is not being officer of government is liable to taxation and shall obtain a certificate of registration from the prescribed authority. The company is required to apply to registering authority through Form 1.
- Register with Employees Provident Fund Organization (National) – The employer is required to provide necessary and true information to the concerned regional Provident Fund Organization (EPFO) in the manner prescribed for allotment of the establishment code of number after this no separate registration is required for the employees.
- Register for Medical Insurance – As per the Employees state insurance Form 01 must be submitted by the employer so that Medical Insurance can be registered after which the employer code number is issued. This is an important thing to be done because it provides risk coverage against the expenditure which is caused by unforeseen medical emergencies.
These are the steps one needs to follow to get their company registered in India and can help in grow their business in a fair and every possible manner.
It is an important stage that is just as crucial as obtaining a business license. Also, it is a necessary legal process and entity that must be conducted within most jurisdictions. Overall it is a necessary step to register business and process of registration of business in India has been discussed above.
Overall it is a necessary step to register business and process of registration of business in India has been discussed above.