Entrepreneurship Exam  >  Entrepreneurship Notes  >  Starting a Startup  >  Registering different type of Companies- How, How Long, How Much and necessary Documentation

Registering different type of Companies- How, How Long, How Much and necessary Documentation | Starting a Startup - Entrepreneurship PDF Download

 

REGISTRATION

Process of Registration for Sole Proprietorship:-

a) First Step for the Products/E Commerce Business

if you are selling Products without Shop -
Take VAT Registration. VAT is the mandatory when your turnover Exceed 5 lakhs but you have to take VAT Registration Initially. its also help to selling on online market place like Flipkart/Snapdeal/Amzon/Shopclues.
                                          OR
if you are selling Products with the Shop-
Take Shop Establishment License that is local registration. but remember one thing you have to take VAT Registration is also when your turnover exceed 5 lakh rupees.

b) First Step for the Service Business

if you provide services in India :-
Take Service Tax Registration that is central tax registration. but you have to pay service tax to government when your turnover exceed 10 lakh rupees

C) Authorization Certificate from Chartered Accountant regarding nature of business.

d) Go to nearby any Bank and Say them Open your Current Account and give them your VAT/Service Tax Certificate and CA Authorization Letter.
 

Process of Registration for Private Limited Company or One Person Company Registration 
1)      Apply for DSC
2)      Apply for DIN (DIN means Director Identification Number)
3)      Apply for Name (Form INC 1)
4)      File Form INC 7, DIR 12 and INC 22 
5)      Get Certificate of Incorporation from MCA (Ministry of Corporate Affairs)


Documents required for Private Limited Company:
1) PAN of all Directors (To be attested by Banker)
2) Election Card or Driving License or Aadhar Card or Passport
3) Bank Statement of Director Not Older than 2 Months (To be attested by Banker)
4) Ownership Proof of Registered Office (Index II or Allotment Letter or Possession Letter or any other)
OR
5) Electricity Bill of Registered Office on Your Name (Not Older than 2 Months)
OR
6) Rent Agreement (If Property Taken on Lease or Rent)
OR
7) NOC from Owner of Registered Office 
Many Online Consultants provide services for Private Limited Company Registration. They assist you in filing all the forms and drafting MOA/AOA and other documents (INC 8, 9 10) require for Private Limited Company Registration. 

Current Account (Company) 
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 Borad resolution to open the bank account.

TAN And PAN
Then you need to apply for TAN and PAN for the Company

STPI
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 expurty 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.

 

COSTS AND PRICING 

One Person Company (OPC) 12,000 to 14,000

Limited Liability Partnership (LLP) will cost you around 8,000 to 10,000

PRIVATE LIMITED COMPANY (Rs 13,000- 15,500; Depends on the state where the business is being registered, and the number of directors)
At times auditors may charge a total upto 25,000. You can refer to a few online websites for getting it done at lower prices. 


The minimum amount of capital required is Rs 1,00,000. (Paid Up Capital)
This will just stay in your bank but you need to have to register a company. 

Proprietorship will cost somewhere around Rs 500 for the stamp paper and getting it attested from the Notary. 

 

TIME

DSC Application - 1-3 working days

INC-29 Filing - 7-9 working days

PAN & TAN Applications - 1-3 working days

The document Registering different type of Companies- How, How Long, How Much and necessary Documentation | Starting a Startup - Entrepreneurship is a part of the Entrepreneurship Course Starting a Startup.
All you need of Entrepreneurship at this link: Entrepreneurship
11 videos|28 docs

Top Courses for Entrepreneurship

FAQs on Registering different type of Companies- How, How Long, How Much and necessary Documentation - Starting a Startup - Entrepreneurship

1. How do I register a different type of company?
Ans. The process of registering a different type of company may vary depending on the country and its legal requirements. Generally, you will need to gather all the necessary documentation, such as identification, proof of address, and business plans, and submit them to the appropriate government agency or authority. It is advisable to consult with a lawyer or business advisor who can guide you through the specific steps and procedures required for your chosen type of company.
2. How long does it take to register a company?
Ans. The time it takes to register a company can vary depending on the country and the efficiency of the registration process. In some cases, it can take a few days or weeks, while in others, it may take several months. Factors such as the completeness of your documentation, any additional legal requirements, and the workload of the registration authorities can all impact the registration timeline. It is important to plan ahead and allocate sufficient time for the registration process.
3. How much does it cost to register a company?
Ans. The cost of registering a company can vary significantly depending on the country and the type of company you wish to register. There are usually fees associated with the registration process, including application fees, name reservation fees, and incorporation fees. Additionally, you may need to consider the costs of legal assistance, if required, and any ongoing compliance or regulatory fees. It is recommended to research the specific fees and costs associated with company registration in your jurisdiction.
4. What are the necessary documentation required for company registration?
Ans. The necessary documentation required for company registration can vary depending on the country and the type of company you want to register. However, some common documents typically required include: - Identification documents of the company's directors and shareholders. - Proof of address for the company's registered office. - Memorandum and Articles of Association. - Business plan or proposal. - Any relevant licenses or permits. - Shareholder agreements or partnership agreements, if applicable. It is essential to consult the relevant government agency or a legal professional to ensure you have all the necessary documents specific to your jurisdiction.
5. Can I register a company without professional assistance?
Ans. While it is possible to register a company without professional assistance, it is generally recommended to seek guidance from a lawyer, accountant, or business advisor. These professionals have the expertise and knowledge to navigate the legal requirements, ensure compliance, and help you make informed decisions during the registration process. They can also provide valuable advice on structuring your company, understanding tax obligations, and other important considerations. Investing in professional assistance can save you time, effort, and potential complications in the long run.
11 videos|28 docs
Download as PDF
Explore Courses for Entrepreneurship exam

Top Courses for Entrepreneurship

Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev
Related Searches

past year papers

,

Registering different type of Companies- How

,

Viva Questions

,

Objective type Questions

,

How Much and necessary Documentation | Starting a Startup - Entrepreneurship

,

Registering different type of Companies- How

,

practice quizzes

,

shortcuts and tricks

,

mock tests for examination

,

How Long

,

MCQs

,

How Long

,

Semester Notes

,

Important questions

,

pdf

,

Summary

,

Previous Year Questions with Solutions

,

Extra Questions

,

Sample Paper

,

How Long

,

Free

,

video lectures

,

How Much and necessary Documentation | Starting a Startup - Entrepreneurship

,

study material

,

ppt

,

Registering different type of Companies- How

,

How Much and necessary Documentation | Starting a Startup - Entrepreneurship

,

Exam

;