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 Steps involved in starting business in India

Registration Requirements:

No:

Procedure

Time to complete:

Cost to complete:

1

Obtain director identification number (DIN) online from the Ministry of Corporate Affairs portal (National)

1 day

INR 100

2

Obtain digital signature certificate online from private agency authorized by the Ministry of Corporate Affairs (National)

3 days

INR 1,500

3

Reserve the company name online with the Registrar of Companies (ROC) (National)

2 days

INR 500

4

Stamp the company documents at the State Treasury (State) or authorized bank (Private)

1 day

INR 1,300 (INR 200 for MOA + INR 1,000 for AOA for every INR 500,000 of share capital or part thereof + INR 100 for stamp paper for declaration Form 1)

5

Get the Certificate of Incorporation from the Registrar of Companies, Ministry of Corporate Affairs (National)

5 days

INR 14,133 (see comments)

6

Make a seal (Private)

1 day

INR 350 (cost depends on the number of seals required and the time period for delivery)

7*

Obtain a Permanent Account Number (PAN) from an authorized franchise or agent appointed by the National Securities Depository Ltd. (NSDL) or the Unit Trust of India (UTI) Investors Services Ltd., as outsourced by the Income Tax Department (National)

7 days

INR 67 (INR 60 application fee + 12.36% service tax + INR 5 for application form, if not downloaded)

8*

Obtain a Tax Account Number (TAN) for income taxes deducted at source from the Assessing Office in the Mumbai Income Tax Department

7 days

INR 57 (INR 50 application fee + 12.36% service tax)

9*

Register with the Office of Inspector, Shops, and Establishment Act (State/Municipal)

2 days

INR 6,500 (INR 2000 + 3 times registration fee for trade refuse charges)

10*

Register for Value-Added Tax (VAT) at the Commercial Tax Office (State)

12 days

INR 5,100 (registration fee INR 5000 + stamp duty INR 100)

11*

Register for Profession Tax at the Profession Tax Office (State)

2 days

No cost

12*

Register with Employees’ Provident Fund Organization (National)

12 days

No cost

13*

Register for medical insurance at the regional office of the Employees’ State Insurance Corporation (National)

9 days

No cost

 

* Takes place simultaneously with another procedure.

 

1)      Do you want to start an Indian Company?

Apply for the name of the company to be registered by filing Form INC-1 for the same. After that depending upon the proposed company type file required incorporation forms listed below.

Form INC-7 or Form INC-2 : Form INC-7 for Application for incorporation of a company (Other than OPC) or Form INC-2 for Application for Incorporation of OPC.

Form INC-22 : Notice of situation or change of situation of registered office based on the option chosen in Form INC-7.

Form INC-22 is to be filed within 30 days from the date of Incorporation of OPC (If the registered address is different from the address given in Form INC-22) or other than OPC (if not filed earlier).

Form DIR-12: Particulars of appointment of directors and the key managerial personnel and the changes among them. This form is to be filed by OPC in case promoter is not the sole director or there are more than one director in an OPC.

2.   Do you want to register a Part I Company?

In order to register Part I Company, applicant is required to file Form INC-1 for name availability. After approval of the same, applicant is required to file Form No. URC-1 along with filing e forms INC-7, INC-22 and DIR-12 or e-forms INC-7 and DIR-12 as the case may be

3.    Do you want to register a Section 8 Company?

To register a section 8 company, applicant is required to file Form INC-1 for name availability. Once the name is approved/made available, there is a further requirement of obtaining a license for a Section 8 Company, for which Form RD-1 is to be filed in order to obtain a license for such company. After obtaining license number, applicant can proceed further to incorporate a company by filing e forms INC-7, INC-22 and DIR-12 or e-forms INC-7 and DIR-12 as the case may be.

4.Do you want to start a Foreign Company?

Any foreign company can establish its place of business in India by filling Form FC-1 (Documents delivered for registration by a foreign company). The eForm has to be digitally signed by authorized representative of the foreign company.

There is no need to apply and obtain DIN for Directors of a foreign company but the DSC of the authorized representative is mandatory, which again is not required to be registered on MCA Application.

Ref: http://www.mca.gov.in/MCA21/RegisterNewComp.html

 

5. Do you want to convert the existing Company to LLP?

In case company wants to convert the existing company to LLP, it has to comply with the requirements of LLP Act, 2008 (File Form 18 under LLP Act, 2008). For details, please visit the link http://www.llp.gov.in/ available on MCA portal. After it gets approved, intimation regarding this can be given in Form 14 - LLP {Form for intimating to Registrar of Companies of conversion of the company into limited liability partnership (LLP)} with ROC.

6.Do you want to close a Company?

A company can be closed by adopting the following ways:-

(A) Strike off a company under Section 560 :
Section 560, of the Companies Act, 1956, deals with strike off provisions of a defunct company. Any defunct company desirous to strike off its name from the register of Registrar of company can apply in Form FTE for strike off its name from the register maintained by ROC as per Guidelines for ‘FAST TRACK EXIT MODE’ issued vide General Circular No. 36/2011 dated 7.6.2011. Similarly, ROC has also power to strike off any defunct company after satisfying himself of the need to strike off a defunct company and has reasonable cause. But before passing any order in this regard, an opportunity of being heard must be provided to the defunct company by following the due procedure u/s 560. 

You can get a general picture from the following steps of winding up which are summarized below (except Voluntary winding up)

  • Firstly, issuing a written demand for debt payments to the target company.
  • Secondly, present a winding up petition to the court and the company
  • Thirdly, Court hearing for the petition
  • Fourthly, granting of winding up order by the court
  • Fifthly, meeting of creditors and other relevant parties
  • Sixthly, appointment of liquidator.
  • Seventhly, realization and distribution of company’s assets to the creditors
  • Eighthly, realize of duties for liquidator
  • Lastly, dissolution of the company.

For more details please visit Company Liquidators website (http://www.companyliquidator.gov.in/

 

Section 1.Obtain Digital Signature Certificate

What is a Digital Signature Certificate (DSC)?

The Information Technology Act, 2000 provides for use of Digital Signatures on the documents submitted in electronic form in order to ensure the security and authenticity of the documents filed electronically. This is the only secure and authentic way that a document can be submitted electronically. As such, all filings done by the companies under MCA21 e-Governance programme are required to be filed with the use of Digital Signatures by the person authorised to sign the documents.

Legal Warning:

You can use only the valid Digital Signatures issued to you. It is illegal to use Digital Signatures of anybody other than the one to whom it is issued.

Certification Agencies:

Certification Agencies are appointed by the office of the Controller of Certification Agencies (CCA) under the provisions of IT Act, 2000. There are a total of seven Certification Agencies authorised by the CCA to issue the Digital Signature Certificates (DSCs). The details of these Certification Agencies are available on the portal of the Ministry www.mca.gov.in

Class of DSCs:

The Ministry of Corporate Affairs has stipulated a Class-II or above category signing certificate for e-filings under MCA21. A person who already has the specified DSC for any other application can use the same for filings under MCA21 and is not required to obtain a fresh DSC.

Validity of Digital Signatures:

The DSCs are typically issued with one year validity and two year validity. These are renewable on expiry of the period of initial issue.

Costing/ Pricing of Digital Signatures:

It includes the cost of medium (a UBS token which is a one time cost), the cost of issuance of DSC and the renewal cost after the period of validity. The company representatives and professionals required to obtain DSCs are free to procure the same from any one of the approved Certification Agencies as per the web site. The issuance costs in respect of each Agency vary and are market driven.

However, for the guidance of stakeholders, the Ministry has obtained the costs of issuance of DSCs at the consumer end from the Certification Agencies. The costs as intimated by them are as under:

Prices For Issuance Of Class-II Digital Signature at the Consumer End

 

Sr. No.

Name of Certification Agency (CA)

Cost of USB Cryptotoken

Cost of DSC with one year validity

Renewal Charges for DSC with one year validity

Cost of DSC with two year validity

Support charges

1.

MTNL CA

Reference of USB crypto token which the user can procure is provided on www.mtnltrustline.com.

Rs. 300/- ( for MTNL phone subscriber) and Rs. 450/- for others (Taxes extra)

Rs. 300/- ( for MTNL phone subscriber) and Rs. 450/- for others (Taxes extra)

Rs. 400/- ( for MTNL phone subscriber) and Rs. 600/- for others
( Taxes extra)

Inclusive

2.

TCS

Rs. 750 (Inclusive of 4% Sales Tax). Any other applicable Taxes Extra.

Rs. 1245 (Inclusive of 12.24% Sales Tax.) Any other applicable Taxes Extra.

Rs. 1000/- (Inclusive of 12.24% Sales Tax) Any other applicable Taxes Extra

Rs. 1900/- (Inclusive of 12.24% Sales Tax) Any other applicable taxes Extra

Not Provided by CA

3.

IDBRT

Not provided by the CA. The user can procure the token from market directly and get his DSC loaded into it

Rs. 750/- (Rs. 500/- towards administrative expenses and Rs 250/-for Certificate)

Rs. 750/-

Rs. 1500/-

Inclusive

4.

SAFESCRYPT (SATYAM)

Rs. 1000/-
Taxes extra

Rs. 995/-
(No service tax applicable)

Rs. 995/-
(No service tax applicable)

Rs. 1650/-
(No service tax applicable)

Rs. 500/- per site visit payable directly to the Authorised Partner.

5.

nCODE Solutions

Rs. 900/-
(Inclusive of VAT/Sales Tax)

Rs. 1090/-
(No service tax applicable)

Not Finalised

Rs. 1650/-
(No service tax applicable)

Inclusive

6.

NIC

Certificate provided in Smart card. Cost of Card Rs. 400/-. For DSCs on USB token, the subscribers have to bring NICCA approved USB token

All certificates provided with 2 years validity

NIL

NIL for Government Rs. 150/- for PSU, Autonomous & Statutory Bodies

Training Charges: Rs. 500/- per participant (optional)

7.

Central Excise & Customs

Does not issue DSCs to person other than those from the Department

8.

e-Mudhra (3i Infotech Consumer Services Limited)

Rs 700/-

• Exclusive of VAT / Sales Tax / Courier charges

Rs. 899/-

• Service tax not applicable

Rs. 899/-

• Service tax not applicable

Rs. 1149/-

• Service tax not applicable

Inclusive of Telephonic or Web support

(a)     Reference associated  company with SUNDAY CLUB (Samrat info )

  1. Software company – Infofluxsolutionswww.infofluxsolutons.com
  2. Comsolve India Mediatechpvt ltd. www.comsolveindia.com
  3. ITCS Service and Solutions
  4. Apical Engineering and Solutions – www.apicalengg.com
  5. HRUGVED Ayurveda – www.hrugved.com
  6. Nos of social group


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