Company Registration is the first step where the promoter of the business has to invest.

Getting Company registered as per your plan plays vital role to begin the new journey in the corporate. There are various types of companies in India you can choose as per your business activities and plans.

Getting Company registered in India is a very important step for a company. It helps the company in getting tax advantages and the government in regulating the company. It also helps the company to get access to different markets and get a good name. There are a number of things that the company has to do before it can get registered in India.

Types of Companies

Various types of company registration in India offer different benefits to the owners. A business owner should choose the right type of registration based on his company's activities and affairs. It is best to seek expert advice before setting up a business.

One of the most common types of company registration in India is sole proprietorship. This type is the simplest one and allows an individual business owner to operate his or her business alone. This type is also known as a sole trader. The owner is the only person who is liable for the business's earnings and losses. The owner can also be the only director of the company.

Another type of company registration in India is a Corporate business like Private Limited Company, LLP, Limited Company, Nidhi Limited, Chit fund company etc.. This type of organization promotes profitable oriented business and e-commerce, and various segment of business expansion. The members are called shareholders and the managers are called directors of the company.

Another type of company registration in India is a Non-Profit Organization. This type of organization promotes commerce, arts, and various forms of social welfare. The members are not liable to pay dividends.

Documents required for Company Registration

Whether you are registering a private limited company or a public limited company, there are certain documents that you need to have to be able to complete your company registration. These documents include the name of the company, objective of your company, office address, director identification number (DIN), PF and GST registration, and PAN (Permanent Account Number) of the members and directors.

The first and the most important document that you need to get is your PAN. This is a unique identification number that you get from the Department of Income Tax in India. It is a 10 digit number that you can update with your Aadhaar Card, Digital signature, Voter ID, Passport, or Driving License. And latest personal bank statement.

Once the company documents been submitted to your Company Secretary, he will get the Certificate of Incorporation. This COI is a form that is sent to you electronically. The Certificate of Incorporation includes the PAN and TAN of the company.

Fees for Company Registration

Whether you are running a business in India or planning to invest, company registration is important. Having the right structure for your business will not only increase your credibility, but also protect your business from natural disasters and ensure its authenticity. Hence, it's important to understand the different types of company registration and its costs.

Depending on the type of company, its size and its business activities, there are different fees to be paid. These costs will vary from state to state and even from one company to the next. However, the Government has taken several steps to make it easier for businesses to incorporate. It has also waived off some of its fees for private companies.

There are many different types of business structures in India. For example, there are MSME companies, which will reap tax benefits for small businesses. Moreover, there are public and private limited companies. A public limited company has a minimum of seven promoters, while a private limited company has a minimum of two promoters.

Role of Company Secretary in Company Registration

Generally, a company secretary is a legal representative of a company and is assigned a high-level position in the company. Its role is to supervise and coordinate the company's activities. In addition to this, it is a crucial link between the company and stakeholders. The legal representative is also responsible for maintaining records of the company.

Basically, the company secretary works as an advisor to the chairman and the board of directors. He ensures that the company is in compliance with legal requirements and follows the company's policies. He also coordinates the board of directors and makes sure that all the directors are aware of their responsibilities.

He advises to Company for Corporate planning, maintains the books of accounts, manage the records of the company's members, directors and officers. He also handles corporate restructuring. He can also conduct audits of the company.

Compliance of New Company Registration

Getting registered as a private limited company is the first step in the process of starting a business. The next step is to get a Commencement of Business Certificate from the Ministry of Corporate Affairs. It is also important to register an official address.

After getting registered, a company is required to prepare financial statements at the end of each financial year. A company that does not meet these requirements can be removed from the register of companies and may be fined.

The most common compliance a company must meet after getting registered is to appoint a director. A director must also disclose his/her interests in other companies. Moreover, a company must notify its board of directors by email or post at least seven days prior to the first meeting.

Support for Company Registration

All the Companies in India are regulated by Companies Act, 2013, proper knowledge of the Companies Act is essential from the day-one of selecting the Company.

You have to approach the company experts like Company Secretaries in India who has the vast experience on the Company matters.

For support of your new Company Registration in India, and the Companies tax plan to reduce your tax payment in India, contact Prakasha And Co, Bangalore’s Leading Company Secretaries, and PCS firm in Bangalore.

Prakasha and Co provides quick Company registration, Income-tax consultant practicing from last 10 years in the area of Corporate Law, Income-tax and Company Law.