Try as you wish, but there’s no way for your new company or start-up to avoid constant communication with government authorities. Here’s the reason, to receive funding, and for various other purposes, you must register your business as a Public or Private Limited Company. You can also register as a Limited Liability Partnership or One Person Company.
The instant you opt for this, you must notify the Ministry of Corporate Affairs of every significant move you do to your organization’s structure, state your financial performance and indeed file tax information. It does seem like a lot, but we are here to assist you all along the way. We will help you walk through all the costs and procedures of starting and running a company.
The expense of company registration in the country is mostly the same across all states, except a few where stamp duty costs are much greater. You can either choose to incorporate with minimum authorized capital (which is typically Rs.1 Lakh) or more, and the charges will vary accordingly.
The government requires all companies to get a range of licenses. If you present a service-oriented product, then you must impose on customers’ service tax (in which case a service tax registration is essential). Furthermore, if you trade goods, you must charge clients sales tax (sales tax registration). On the other hand, if you hold employees, you must deduct Professional Tax (this also includes registration). Moreover, all small businesses also require a license as per the Shops & Establishment Act.
Indeed all these registrations and licenses do cost a certain amount, which normally varies in each state. We are here to take care of all these registrations once we clearly understand the nature of your business. In general, most companies or businesses require at least three types of registrations. However, it’s a one-time cost you need to bear.