Form 10BD and 10BE Explained: Step-by-Step Filing Guide for NGOs Share To ensure transparency and accuracy in reporting donations, the Government of …
Registering your business in India? One of the first and most important steps is registering your business. It gives your business a legal identity and unlocks multiple benefits like credibility, financial assistance, and legal protection. Let’s break it down in simple words.
Let’s look at the most common ones:
1. Sole Proprietorship Firm:Â A single person runs the business. There is no separate legal entity, which means your personal money and business money are the same. Simple to start but risky since you are personally responsible for all debts.
2. Partnership Firm:Â When two or more people start a business together and share profits and losses. It is advisable to have a written agreement (partnership deed) to avoid conflicts.
3. Private Limited Company:Â A separate legal entity from its owners. However, it involves more paperwork and compliance.
4. Limited Liability Partnership (LLP):
A mix of partnership and private limited company. Owners (partners) have limited liability, and it is easier to manage than a private company.
Step 1: Get a Digital Signature Certificate (DSC)
Since the registration is done online, you need a Digital Signature Certificate (DSC) for secure transactions.
Step 2: Apply for a Director Identification Number (DIN)
If you are registering a company, the directors must get a DIN from the Ministry of Corporate Affairs (MCA).
Step 3: Choose a Business Name
Pick a unique name for your business and get it approved by the MCA.
Step 4: Prepare Necessary Documents
Gather identity proof, address proof, and business details. You also need a Memorandum of Association (MOA) and Articles of Association (AOA) for companies.
Step 5: Submit Documents and Pay Fees
File your application with the Registrar of Companies (ROC) along with the required fees.
Step 6: Get PAN and GST Registration
Once your business is registered, apply for a PAN (Permanent Account Number) and GST registration if required.
At E Accountax Manager, we simplify business registration for MSMEs. Our expert team helps you with hassle-free business registration in Rajasthan, compliance, and tax solutions. Focus on growing your business while we handle the legal stuff!
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