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