START A COMPANY IN INDIA..HERE’S HOW?

Jun 2 • General • 1420 Views • No Comments on START A COMPANY IN INDIA..HERE’S HOW?

This information will be useful for those who are looking in a nutshell the steps involved to start a Private Limited company in India

1. First and foremost identify the Directors of the Company. Minimum of two directors need to present and Maximum of 8 is allowed.

2. All Directors should have DIN (Directors Identification Number). If you do not have one you can apply DIN online athttp://www.mca.gov.in/MCA21/RegisterNewComp.html. FAQ on DIN http://www.mca.gov.in/MinistryWebsite/dc…
Documents required for DIN

A. Identity Proof (Any one of the following)
PAN Card
Driving License
Passport
Voter ID Card
Others (to be specified)
B. Residence Proof (Any one of the following)
Driving License
Passport
Voter ID Card
Telephone Bill
Ration Card
Electricity Bill
Bank Statement
Others (to be specified)

3. Once you have got your DIN then you need to apply for Company name. You need to go with 5-6 names in the order which you prefer.If the name is not available then they go to the next one in the order you have provided.

4. You need to apply online for the name availability . You need to Fill in Form 1A. Forms are available at this website: http://www2.mca.gov.in/MinistryWebsite/d…

5. Once you have got your name approved you have to apply for the Incorporation of Company. For this you will have to prepare Memorandum of Association which will detail company;s operations, the first list of directors in the board . This should be applied along with Form 1 at http://www2.mca.gov.in/MinistryWebsite/d… Once this has been approved make atleast 10-15 copies of your Certificate of Incorporation and Memorandum of Association and have it in a booklet form.

6. Once your company has been incorporated you can open a Current account in any of the leading banks
for carrying out your operations. You will need to submit a copy of Certificate of Incorporation and Memorandum of Association along with Board resolution to open the bank account.

7. Then you need to apply for TAN and PAN for the Company
https://tin.tin.nsdl.com/pan/form49A.htm…
https://tin.tin.nsdl.com/tan/form49B.htm…
8. If your services are in Software related area you can apply for STPI license which will give you certain benefits like Company need not pay tax for 5 years, there will be no import or export duty levied on software/hardware, You will get office spaces at lower rates at STPI units. These are few of the benefits of becoming an STPI member.All this you can do on your own or you can outsource these to professional auditor.

IF you did it through Auditor and it took almost three weeks (Upto Step 7 excluding STPI) and all charges (excluding sTPI) would approximately cost you Rs.25,000.

The whole process was completed in 30 minutes after the e-Governance was launched.

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