How to Register a Company in India

Starting a business in India is an exciting journey but it requires a lot of potential , performance and legal formalities. Register a new company is the most crucial step in establishing a legal entity.

Let’s see how we can start a new company.

There are several companies in India it is important to decide the type of the business structure/Company structure. The companies Act, 2013 recognizes various types of companies such as :-

• Private limited companies are preferred for startups.
• One person company, which is an ideal for solo entrepreneur.
• Public limited company, which is suitable for large business.
• Sole proprietorship, in which there is a single owner of the business with a fully control on the company with full liability.
• Partnership firm are suitable for small business with two or more partners sharing profit with each others.

Choosing a Company Structure

• Private limited company is suitable for businesses and startups.
• Limited liability partnerships ideal for professionals
• Sole proprietorship in this no separate legal entity.
• Partnership firm if you have partner but don’t want the compliance burden of LLP or pvt ltd company.

Company Registration Process

• First of all we need to collect a digital signature certificate is mandatory for directors and authorized signatories to file online documents with the ministry of corporate affairs.

· Documents required for Company Registration

1- Pan card
2- Aadhar card
3- Email id
4- Contact number
5- Passport size photograph is required.

• Apply for director identification number which is also known as DIN which is essential for the director of the company.
• Name reservation for MCA  which is choosing a unique name for the company , The propose name should be identical or similar to an existing company or trademark.
• The document draft memorandum of association and article of association must be signed by all the subscribe the presence of a professional CA or any lawyer.
• Once the incorporation application is approved the next step to file is SPICE+PART b , it integrates various registration such as   
• Pan and tax deduction account number
• ESIC and EPFO registration
• GST number if applicable
• CERTIFICATION of INCORPORATION, once the MCA verifies the application  it issues the COI which is certification of incorporation along with the company’s corporate identification number.
• After this the company is legally registered.

Benefits of registering Company/Business 

Registering a company offers several offers and benefits they are :-

• In private limited companies personal assets of the owner are protected.
• Legal recognition and credibility as it can own property enter contracts and sue or be sued on its own name.
• This increases trust and credibility among customers, investors, and vendors.
• Tax benefits as the lower corporate tax rates compared to the individual taxation.
• Startups recognized under startup India get a 3year of tax holiday. 

Cost of Company Registration in India

Company Registration fee in India varies according to the number of Stakeholders and Size. There are different types of Company structures under which an entrepreneur can register his/her business according to business’s nature and requirement ,
The cost of Incorporation of a company depends upon:-

• Number of directors
• Number of members
• Authorized share capital
• Professional fees

Essential elements for Registration

Registering company involves several key elements which are involved in a new company are as follows:-

• The business structure is something where you decide  in which company you want to register such as in
• Pvt Limited company
• Public limited company
• Partnership company and etc.
• Name registration where you choose unique name for your business.
• Providing the registered office address, it should be legal address for receiving the official communication.
• Documents and identification plays a major role in register of the company.
• Compliance and licensing which obtain necessary business licenses, and follows sectors specific regulatory compliance.

Government support to new companies

The Indian government has set up several ways to encourage the startups in India such as :-

• Startup India set by the government which offers tax exemption, funding support, and mentoring for a new businesses.
• Make in India is also one of them which encourages manufacturing  within  subsidizes and mentoring for new ease of the Investments.
• MSME schemes provides financial support, subsidies and incentives for small businesses.

Register through Taxflick

Register your company effortlessly with Taxflick – your trusted partner for seamless company registration in India. Our experts handle all legal formalities, ensuring a hassle-free and quick registration process. Focus on growing your business while we take care of compliance. Start your entrepreneurial journey today!

Also Read – https://taxflick.com/12a-80g-registration-in-india