Business Registration in India
Business is an activity that involves trading of goods or services on an agreed manner. All those segments which are carried on with a motive of earning profit come under the business. In capitalist economy this facet of business is predominant in several ways including privately owned, under partnership, sole proprietorship or many more. Business may also conduct for non-profit that comes under NGO or charity purposes. Every country has its own specific rules and regulations for maintain, controlling and regulating the transactions of business.
Here in India, all the business activities are managed and controlled under the New Companies Act, 2013 and administered under the Ministry Of Corporate Affairs. As India with wide categories of business forms including private owned, limited liability partnership, semi-government firm, one person company and many more all are having distinct rules and regulations for business registration in India. Thus, before go ahead with business registration process in India; it is necessary to get decide about form of business you want to carry with.
Steps To Register A Business Or New Company In IndiaIf we concern about business or new company registration steps then there is a huge list that makes you with complete description about the same. Here, below we have listed some points that give an idea about ne company or business registration in India.
- First step is to obtain DIN - Director Identification Number by filing an application to the concern authority where scanned copy of ID proof is needed to submit.
- Then obtain digital signature certificate under MCA 21 where an application is made to get Class-II Digital Signature Certificate.
- Then file an application to ROC for approval of company's name along with Form INC-1 that charge a fees of INR 500 to INR 1,000.
- Then file all the incorporation forms and documents like article of association and memorandum of association in order to apply for incorporation certificate. If you are applying online then Form INC-7, Form INC-22, Form DIR-12 are generally used for the same.
- File an application under Income Tax Act 1961 in order to apply for PAN number along with other taxable numbers including TAN.
- File an application for obtaining VAT number.
- Besides these there are many legal forms that are available in the business law like shop establishment act, employee provisional fund act, medical insurance act, profession tax and many more that one can file to register a business or company in India.