What is Service Tax?

What is the procedure to start a company in India ?

This information will be useful for those who are looking in a nutshell the steps involved to start a Private Limited company in India
1. First and foremost identify the Directors of the Company. Minimum of two directors need to present and Maximum of 8 is allowed.
2. All Directors should have DIN (Directors Identification Number). If you do not have one you can apply DIN online at www.mca.gov.in. FAQ on DIN

Documents required for DIN 

A. Identity Proof (Any one of the following) 

• PAN Card 
• Driving License 
• Passport 
• Voter ID Card 
• Others (to be specified) 

B. Residence Proof (Any one of the following) 

• Driving License 
• Passport 
• Voter ID Card 
• Telephone Bill 
• Ration Card 
• Electricity Bill 
• Bank Statement 
• Others (to be specified) 

3. Once you have got your DIN then you need to apply for Company name. You need to go with 5-6 names in the order which you prefer.If the name is not available then they go to the next one in the order you have provided. 

4. You need to apply online for the name availability . You need to Fill in Form 1A. Forms are available at this 

location. 

5. Once you have got your name approved you have to apply for the Incorporation of Company. For this you 

will have to prepare Memorandum of Association which will detail what the company;s operations the first list of directors 

who are going the be in the board need to be defined in this document. This should be applied along with Form 1 

Once this has been approved make at least 10-15 copies of your Certificate of Incorporation and Memorandum of Association and have it in a booklet form. 

6. Once your company has been incorporated you can open a Current account in any of the leading banks 

for carrying out your operations. You will need to submit a copy of Certificate of Incorporation and Memorandum of Association along with Borad resolution to open the bank account. 

7. Then you need to apply for TAN and PAN for the Company 

8. If your services are in Software related area you can apply for STPI license which will give you certain benefits 

like Company need not pay tax for 5 years, there will be no import or expurty duty levied on software/hardware, 

You will get office spaces at lower rates at STPI units. These are few of the benefits of becoming an STPI member. 

All this you can do on your own or you can outsource these to professional auditor. We did it through Auditor and it took almost three weeks (Upto Step 7 excluding STPI) and all charges(excluding sTPI) would approximately cost you Rs.25,000. 

I am not sure how much it would cost if you do it on your own. I read in one of the blogs that in Delhi the whole 

process was completed in 30 minutes after the e-Governance was launched. 

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.

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.

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.

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.