Dear Sir,
Why Should not added the Clearance the Business from Polluction Control Bords., Weight & Measures Dept. ( Main Head ache!!!!!!!!!! )
Regards
Sandip Parekh
----- Original Message -----From: Ramachandran MahadevanTo: icai circ ; aaykar ; GLOBAL CA GROUP ; ThaneCAs@yahoogroups.com ; jalgaon ca ; lucknow ; ludhiana-ca@googlegroups.com ; taxfin ; cacscwaindia@yahoogroups.co.in ; ghaziabad_ca@yahoogroups.com ; New Delhi ; bhilai-ca ; TAX ; indian taxconsultants ; VADODARA CA GROUPSent: Friday, May 31, 2013 11:51 AMSubject: [aaykarbhavan] BUILD YOUR OWN COMPANY
How To Build Your Company
If you want to set up your own company, here's a quick guide to get you started.If you want to set up your own company, here's a quick guide to get you started.
PUBLIC OR PRIVATE LIMITED OR LIMITED LIABILITY PARTNERSHIP
Register directors and partners:
An director or partner in a company needs to obtain a director identification number or a designated partner identification number, respectively. Go to the Ministry of Corporate Affairs' website, download the relevant form, fill it and submit it there. You get a temporary number. Get a print, and sign it and send to the ministry along with your identity and address proofs.
Secure digital signature:
A digital signature is used for signing online documents. It can be acquired from any authorized provider.
Select a business name:
File an application with the appropriate Registrar of Companies (RoC) for state and union territories based on the registered office of the firm. You can do it online. You can check availability of company names at www.mca.gov.in.
Register the company:
Once your company name has been approved, you can incorporate it within six months. You will need to provide a memorandum of association (the company's objectives and business methods), the articles of association (defining the company's internal structure and policies) and any relevant agreement along with your application for incorporation with the RoC. You get a certificate of incorporation in a couple of weeks.
Limiting responsibilities: In case of limited liability partnerships (LLPs), an agreement on the liabilities of the partners has to be filed within 30 days of incorporation.
PARTNERSHIP FIRM
It's slightly different from the process of getting a limited company. These can have 2-20 partners and one needs a partnership deed (instead of the memorandum of association and articles of association). Thought it is not compulsory but a firm should be registered to give it a legal sanctity.
Also, partnership firms are not incorporated but registered. Meaning the firm and the partners are not separate legal entities. You don't need an approval on the name either but it is better to keep a unique name to avoid legal complications later.
Registration is done by filing an application with the Registrar of Firms (instead of ROC) at the place of business or where the firm is situated or proposed to be situated. The registrar then makes an entry of the firm and provides a certified copy of the entry as a proof of registration. Registering your business as a partnership would depend on the scale and sector you want to operate in.
Tax benefits is another point consider. Also, compliance issues and procedures are comparatively simpler in case of partnership firms. Usually, service.
SOLE-PROPRIETORSHIP
For a one-man business venture, there is no distinction between the proprietor and the business. No registration of the company is required. However, all necessary trade-related licenses and registrations need to be obtained. Such a business is suitable for freelancers, traders and shop owners, but it might not be suitable if you plan to bring in investors or partners.
REQUIREMENTS FOR RUNNING BUSINESSES
>> PAN: A Permanent Account Number (PAN) given by the income tax department.
>> Professional Tax: You'll also have to enroll at the Profession Tax Office. Profession tax is a tax levied by the state government on income earned by people carrying out an occupation, that is, professionals and traders.
>> VAT: VAT is required for traders as well as manufacturers. Being a state subject, the rules and rates may vary from state to state. You will be allotted an 11-digit unique tax-payer's identification number (TIN).
>> TAN: You would also need a TAN, or, Tax Account Number that is allotted by the income tax deptt. This gives you the right to deduct tax at source (TDS) collect tax at source (TCS).
>> Registration under Shops and Establishment Act: Your office or sales outlet will have to be registered with the Office of Inspector (State or Municipal), Shops and Establishment Act.
>> Service Tax: Think your service that will have a turnover of more than Rs 9 lakhs a year? Make an application (Form ST-1) to the concerned Superintendent of Central Excise for registration of your service tax number within 30 days of starting your business.
>> Import - Export License: If you intend to import or export any product in India then you'll have to apply for the import - export code.
>> Trademark Registration: The logo, name or signature is the identity of your business and it needs to be registered as a trademark through a legal process provided under the Trade Marks
>> EPF and ESI: Register with Employees' Provident Fund Organization and Register for medical insurance at the regional office of the Employees' State Insurance Corporation
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