How to Register a Company in India?
There are many foreign companies engaging in trading and manufacturing activities in India. Do you want to take advantage of their financial growth?
The Reserve Bank of India can accommodate your business within their country as long as you follow their registration laws. We can show you the right steps in starting a company in India now.
The first step in registering a company in India is to have your name approved by the ROC (Registrar of Companies) in the State/Union Territory. This approval is subject to certain conditions, for example, your company name should be unique and there should be no duplicate company name in India at the time of your application. In the case of a public company, the name “Limited” should be included at the end of the company name while for private limited, the term “Private Limited,” must be explicitly included there.
Company in India Business Guide
The ROC in different states primarily manages the following:
- Penalty action against companies
- Eliminating company names
- Alteration of companies from public to private and vice versa
- Change of fiscal year
- Change of company name
- Integration of companies
Fees payable would depend on the company’s nominal capital to be registered and paid either in cash or postal order. The documents and requirements to be submitted should be with ROC within six months of the company’s incorporation. Under domestic law, the companies are required by India to withhold tax from certain payments such as winning from horse races/lottery/games, commission, payments to contractors, professional fee, interest, and salaries paid to employees.
Startup Company in India
Check out the details on how to register a company in India through their government’s website or through their company laws. Here are some steps you should take:
- Attain DIN (Director Identification Number) which is printed, signed, and sent to Ministry of Corporate Affairs together with your identity proof (voter ID card, passport, and driving license) as well as residence proof (bank statement, electricity bill, ration card, and telephone bill).
- Acquire digital signature certificate that will utilize their latest electronic registration system. This can be acquired from any private bureau sanctioned by MCA 21.
- Cache the name of the company with ROC. You can give six proposed names as alternatives for your company name.
- Seal the credentials of the company at a certified private bank or State Treasury.
- Attain Certificate of Incorporation from Ministry of Corporate Affairs (Registrar of Companies).
- Acquire PAN (Permanent Account Number) from a certified agent or franchise allotted by NSDL (National Securities Depository Ltd.) or UTI (Unit Trust of India) Investors Services Ltd.
- Get a TAN (Tax Account Number) for income taxes from Income Tax Department’s Assessing Office.
- Enroll with Establishment Act (State/Municipal), Shops, and Office of Inspector.
- Enroll for VAT (Value-Added Tax) at Commercial Tax Office with various credentials such as the company’s Memorandum or Articles of Association and proof of location.
This Video Explains 3 Steps and Times Required to Register a Private Limited Company in India
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