Simple to register a company
To establish a company in India it is necessary to comply with these steps:
Select a business structure that is suitable:
It is possible to form your business as a sole proprietorship, partnership or Limited Liability Partnership (LLP) or private limited corporation.
For the registration of a corporate entity:
Choose a unique and readily available name for your company:
You’ll have to select a name for your business that isn’t already used and isn’t a duplicate of any trademark that is already in use. You can verify whether you can get a business name by using the Ministry of Corporate Affairs (MCA) name availability tool.
You must obtain the director Identification Number (DIN) and the Digital Signature
Certificate (DSC) Each director of a business must possess a DIN which is an identification number that is unique and given through the MCA. It is also necessary to get the DSC which is a digital representation of a signature in physical form that can be used to sign documents electronically.
Create the Private Limited Company documents:
You must prepare the following documents to the MCA to allow your business to be registered:
The Memorandum of Association (MOA) is a document that outlines the main objectives of the company and the authority of the directors.
The Articles of Association (AOA) The document lays out the rules and rules that govern the management of the internal affairs of the company.
Form INC-32: This is the form to fill out for incorporation of the company.
Form Agilepro and Inc-9 This is the application form for receiving a Certificate of Incorporation.
Get your Certificate of Incorporation When the MCA has approved your incorporation papers to ensure that requirements have been fulfilled and that all the requirements have been met, it issues an official Certificate of Incorporation which is legal proof of the incorporation of your business.
The importance of registering the company
The registration of a company is a crucial procedure in India as it grants an organization legitimacy and signifies the company’s identity as an independent entity from its owner.
Benefits of registering a company
Limited liability One of the major advantages of registering a corporation is that it offers some protection from liability for the owners. This means that private assets and assets held by owners aren’t at risk should the case arise that the company is liable for liabilities or gets sued.
It is easy in raising funds: registered businesses can quickly raise capital by issuing shares to investors, or borrowing money from financial institutions and banks. This is crucial for companies that require financial assistance to expand and grow.
Increased credibility: Registered companies are usually perceived as more trustworthy and reliable by suppliers, customers and other stakeholders. This is especially relevant for companies trying to find new customers or partners.
It is easier to conduct business Registered businesses can make use of a variety of initiatives and government schemes which can help businesses expand and thrive. They could also be eligible to receive specific tax incentives and tax credits.
In the end, registration of a company is a crucial step for companies in India who wish to build solid foundations and benefit from the many advantages it can provide.
The Compliance of companies
In India, businesses are required to adhere to different laws and regulations at the state and national levels. The most common requirements for compliance for businesses in India are:
Companies Act: Companies in India must comply with the requirements that are contained in the Companies Act, which sets out the rules and regulations that govern the creation as well as the operation and dissolution of businesses.
Income Tax Act: The Income Tax Act requires companies to pay tax on profits. They are also required to prepare an annual tax return, which has to be sent to the Income Tax Department by a time frame.
GST businesses: GST must, who are involved in Goods and services must register to pay Goods and Services Tax (GST) and pay GST on the taxable supply.
Labour laws: Businesses operating in India must adhere to a range of laws on labour that cover minimum wage and working hours, entitlements to leave and the safety of employees and their health.
Environmental laws: Businesses are obliged to adhere to rules and environmental legislation, which include ones related to water and air pollution as well as waste management and toxic chemicals.
Corporate governance: Businesses are required to adhere to sound corporate governance standards that include being accountable and transparent board of directors as well as making sure that the company’s operations are handled in a fair and ethical way.
It is crucial for businesses in India to comprehend and meet these standards so that they can avoid financial and legal sanctions
It is advised to consult professionals like Company Secretaries for help in compliance, such as a CA for accounting, who can assist you through the registration process for a business in India.
It is important to remember that the registration process for registering a company in India is complex process and lengthy. It’s recommended to seek out the assistance of professionals like an attorney, Company Secretary or chartered accountant to ensure that the process is done in a timely manner.
Company Secretary in Company Registration
In India, the function of a secretary for a company is to make sure that the business is compliant with all applicable laws and regulations, and adheres to good corporate governance guidelines.
When it comes to the registration of a company, The company secretary is in charge of making and filing documents for incorporation, like documents like the Memorandum of Association (MOA) and Articles of Association (AOA). The company secretary can also assist in obtaining the required permits and approvals for example, the trade license and GST registration.
Once the company has been registered, the secretary of the company remains in a crucial function in ensuring that the company is compliant with the laws. This involves maintaining the company’s registers of statutory status in addition to the preparation and filing of annual returns as well as ensuring that the company has its annual general meeting.
Company secretaries are accountable for providing advice to the directors’ board regarding matters that concern the corporate’s governance as well as compliance. In certain situations, the company secretary could be required to serve as an intermediary between board members of directors and shareholders.
In the end, the job of the secretary for a company is vital in assisting companies to function smoothly and efficiently, as well as ensuring that the company is in compliance with all applicable laws and rules.
Contact Prakasha & co. for simple registration of your business’s new venture in India.
CS support to your New Business
The process of registering a new company can be simplified to take steps are taken to ensure a smooth and successful registration process. A Company Secretary (CS) can play a valuable role in helping with the registration of a new company by providing expert guidance and assistance.
We provide guidance on the legal requirements for company registration:
A CS has a thorough understanding of the laws and regulations that apply to company registration, and can provide guidance on the steps that need to be taken to ensure compliance with these requirements.
Assisting with the preparation of documents:
Our CS can assist with the preparation of the necessary documents for company registration, such as the Memorandum of Association and the Articles of Association.
Facilitating communication with government agencies:
Our CS can help to facilitate communication with government agencies such as the Ministry of Corporate Affairs (MCA) during the registration process.
Providing ongoing support:
After the company has been registered, a CS can continue to provide ongoing support and guidance to ensure that the company is in compliance with all relevant laws and regulations.
Overall, our CS can be invaluable in ensuring a smooth and successful company registration process.