START A BUSINESS
Proprietary concern
Starting a proprietary concern in India involves the following steps:
Choose a business name: Choose a unique and catchy name for your business. Make sure the name is not already registered with the Registrar of Companies.
Obtain a PAN (Permanent Account Number): A PAN is a unique identification number issued by the Income Tax Department to all taxpayers in India. It is mandatory to obtain a PAN for starting a business in India.
Obtain a TAN (Tax Deduction and Collection Account Number): A TAN is required for businesses that are required to deduct or collect tax on payments made to others.
Obtain a GST (Goods and Services Tax) registration: If your business is involved in the supply of goods or services, you will need to obtain a GST registration.
Obtain a trade license: A trade license is required to carry out business activities in a particular area. It is issued by the local municipal corporation or the state government.
Register the business: Proprietary concerns in India do not need to be registered with the Ministry of Corporate Affairs. However, it is recommended to register your business with the local shop and establishment authorities to obtain a trade license and for other purposes.
Obtain other licenses and approvals: Depending on the nature of your business, you may need to obtain other licenses and approvals from various government departments and agencies.
Open a business bank account: It is recommended to open a separate bank account for your business to keep your personal and business finances separate.
Compliance with labor laws: Make sure to comply with labor laws and regulations, including those related to the minimum wage, working hours, and employee benefits.
It is advisable to seek the assistance of a professional, such as a lawyer or an accountant, to ensure that all the necessary steps are followed while starting a proprietary concern in India.
Partnership Firm Registration
Starting a partnership firm in India involves the following steps:
Choose a business name: Choose a unique and catchy name for your business. Make sure the name is not already registered with the Registrar of Companies.
Obtain a PAN (Permanent Account Number): A PAN is a unique identification number issued by the Income Tax Department to all taxpayers in India. It is mandatory to obtain a PAN for starting a business in India.
Obtain a TAN (Tax Deduction and Collection Account Number): A TAN is required for businesses that are required to deduct or collect tax on payments made to others.
Obtain a GST (Goods and Services Tax) registration: If your business is involved in the supply of goods or services, you will need to obtain a GST registration.
Register the partnership firm: To register a partnership firm in India, you need to file the partnership deed with the Registrar of Firms in the state where the firm is situated. The partnership deed should contain the names and addresses of the partners, the nature of the business, and the rights and duties of the partners.
Obtain a trade license: A trade license is required to carry out business activities in a particular area. It is issued by the local municipal corporation or the state government.
Obtain other licenses and approvals: Depending on the nature of your business, you may need to obtain other licenses and approvals from various government departments and agencies.
Open a business bank account: It is recommended to open a separate bank account for your business to keep your personal and business finances separate.
Compliance with labor laws: Make sure to comply with labor laws and regulations, including those related to the minimum wage, working hours, and employee benefits.
It is advisable to seek the assistance of a professional, such as a lawyer or an accountant, to ensure that all the necessary steps are followed while starting a partnership firm in India.
Private Limited Company
Starting a private limited company in India involves the following steps:
Choose a business name: Choose a unique and catchy name for your business. Make sure the name is not already registered with the Ministry of Corporate Affairs.
Obtain a Digital Signature Certificate (DSC): A DSC is a secure digital key that is used to file documents online with the Ministry of Corporate Affairs.
Obtain a Director Identification Number (DIN): A DIN is a unique identification number issued by the Ministry of Corporate Affairs to individuals who are appointed as directors of a company.
File the incorporation documents: To incorporate a private limited company in India, you need to file the following documents with the Ministry of Corporate Affairs:
Memorandum of Association (MOA)
Articles of Association (AOA)
Form INC-7 (Notice of Situation of the Registered Office)
Form INC-22 (Declaration of Compliance)
Obtain a PAN (Permanent Account Number): A PAN is a unique identification number issued by the Income Tax Department to all taxpayers in India. It is mandatory to obtain a PAN for starting a business in India.
Obtain a TAN (Tax Deduction and Collection Account Number): A TAN is required for businesses that are required to deduct or collect tax on payments made to others.
Obtain a GST (Goods and Services Tax) registration: If your business is involved in the supply of goods or services, you will need to obtain a GST registration.
Obtain a trade license: A trade license is required to carry out business activities in a particular area. It is issued by the local municipal corporation or the state government.
Obtain other licenses and approvals: Depending on the nature of your business, you may need to obtain other licenses and approvals from various government departments and agencies.
Open a business bank account: It is recommended to open a separate bank account for your business to keep your personal and business finances separate.
Compliance with labor laws: Make sure to comply with labor laws and regulations, including those related to the minimum wage, working hours, and employee benefits.
It is advisable to seek the assistance of a professional, such as a lawyer or an accountant, to ensure that all the necessary steps are followed while starting a private limited company in India.
One Person Company (OPC)
Starting a one person company (OPC) in India involves the following steps:
Choose a business name: Choose a unique and catchy name for your business. Make sure the name is not already registered with the Ministry of Corporate Affairs.
Obtain a Digital Signature Certificate (DSC): A DSC is a secure digital key that is used to file documents online with the Ministry of Corporate Affairs.
Obtain a Director Identification Number (DIN): A DIN is a unique identification number issued by the Ministry of Corporate Affairs to individuals who are appointed as directors of a company.
File the incorporation documents: To incorporate an OPC in India, you need to file the following documents with the Ministry of Corporate Affairs:
Memorandum of Association (MOA)
Articles of Association (AOA)
Form INC-7 (Notice of Situation of the Registered Office)
Form INC-22 (Declaration of Compliance)
Obtain a PAN (Permanent Account Number): A PAN is a unique identification number issued by the Income Tax Department to all taxpayers in India. It is mandatory to obtain a PAN for starting a business in India.
Obtain a TAN (Tax Deduction and Collection Account Number): A TAN is required for businesses that are required to deduct or collect tax on payments made to others.
Obtain a GST (Goods and Services Tax) registration: If your business is involved in the supply of goods or services, you will need to obtain a GST registration.
Obtain a trade license: A trade license is required to carry out business activities in a particular area. It is issued by the local municipal corporation or the state government.
Obtain other licenses and approvals: Depending on the nature of your business, you may need to obtain other licenses and approvals from various government departments and agencies.
Open a business bank account: It is recommended to open a separate bank account for your business to keep your personal and business finances separate.
Compliance with labor laws: Make sure to comply with labor laws and regulations, including those related to the minimum wage, working hours, and employee benefits.
It is advisable to seek the assistance of a professional, such as a lawyer or an accountant, to ensure that all the necessary steps are followed while starting an OPC in India.
Limited Liability Partnership Registration or LLP Registration
Starting a limited liability partnership (LLP) in India involves the following steps:
Choose a business name: Choose a unique and catchy name for your business. Make sure the name is not already registered with the Ministry of Corporate Affairs.
Obtain a Digital Signature Certificate (DSC): A DSC is a secure digital key that is used to file documents online with the Ministry of Corporate Affairs.
Obtain a Director Identification Number (DIN): A DIN is a unique identification number issued by the Ministry of Corporate Affairs to individuals who are appointed as directors of a company.
File the incorporation documents: To incorporate an LLP in India, you need to file the following documents with the Ministry of Corporate Affairs:
LLP Agreement
Form 2 (Incorporation of a Limited Liability Partnership)
Form 3 (Declaration by First Partner)
Form 4 (Declaration by Second Partner)
Obtain a PAN (Permanent Account Number): A PAN is a unique identification number issued by the Income Tax Department to all taxpayers in India. It is mandatory to obtain a PAN for starting a business in India.
Obtain a TAN (Tax Deduction and Collection Account Number): A TAN is required for businesses that are required to deduct or collect tax on payments made to others.
Obtain a GST (Goods and Services Tax) registration: If your business is involved in the supply of goods or services, you will need to obtain a GST registration.
Obtain a trade license: A trade license is required to carry out business activities in a particular area. It is issued by the local municipal corporation or the state government.
Obtain other licenses and approvals: Depending on the nature of your business, you may need to obtain other licenses and approvals from various government departments and agencies.
Open a business bank account: It is recommended to open a separate bank account for your business to keep your personal and business finances separate.
Compliance with labor laws: Make sure to comply with labor laws and regulations, including those related to the minimum wage, working hours, and employee benefits.
It is advisable to seek the assistance of a professional, such as a lawyer or an accountant, to ensure that all the necessary steps are followed while starting an LLP in India.
Registration of Society and Trusts
Starting a society or trust in India involves the following steps:
Choose a name: Choose a unique and catchy name for your society or trust. Make sure the name is not already registered with the relevant authorities.
Determine the purpose of the society or trust: Decide on the purpose or objectives of the society or trust, which should be clearly stated in the trust deed or the memorandum of association.
Prepare the trust deed or memorandum of association: The trust deed or memorandum of association is a document that sets out the rules and regulations of the society or trust. It should include the name and address of the society or trust, the purpose of the society or trust, the names and addresses of the trustees or members, and the rules for the management of the society or trust.
Register the society or trust: To register a society or trust in India, you need to file the trust deed or memorandum of association with the relevant authorities, such as the Registrar of Societies or the Charity Commissioner.
Obtain a PAN (Permanent Account Number): A PAN is a unique identification number issued by the Income Tax Department to all taxpayers in India. It is mandatory to obtain a PAN for starting a business in India.
Obtain a TAN (Tax Deduction and Collection Account Number): A TAN is required for businesses that are required to deduct or collect tax on payments made to others.
Obtain a GST (Goods and Services Tax) registration: If your business is involved in the supply of goods or services, you will need to obtain a GST registration.
Obtain a trade license: A trade license is required to carry out business activities in a particular area. It is issued by the local municipal corporation or the state government.
Obtain other licenses and approvals: Depending on the nature of your business, you may need to obtain other licenses and approvals from various government departments and agencies.
Open a business bank account: It is recommended to open a separate bank account for your business to keep your personal and business finances separate.
Compliance with labor laws: Make sure to comply with labor laws and regulations, including those related to the minimum wage, working hours, and employee benefits.
It is advisable to seek the assistance of a professional, such as a lawyer or an accountant, to ensure that all the necessary steps are followed while starting a society or trust in India.