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Member You - Incorporation Of A Private Limited Company In India - Procedures And Steps Involved
Sometime back I wrote that the best day to go shopping was the day before Thanksgiving. The reason was that the stores are all stocked up for Christmas in goods and in sale staff. They know the day after Thanksgiving they will be swamped with Christmas buyers so they are getting ready.The day before Thanksgiving, the stores are empty because all of the non-working women are home fixing Thanksgiving dinner. The working ladies rush right to the grocery store after work. So the “Christmas shopping stores” are empty.I said in that famous article that going to J.C. Penney the day before Thanksgiving was wonderful. They had goods on sale and they had plenty of workers to help you select what you needed. We were in and out of there in an hour and we had a bundle of gifts for our 32 grandkids, our great grandchild, and their parents.I worked at J.C. Penny years ago.I worked in the evening part time to earn a little extra cash because I
5.2 Company Tax deduction Account Number (TAN): For Tax Deduction at Source (TDS) by the company, TAN needs to be obtained from the Income Tax department.
6. Import Export Code (IE Code)
In case the new business involves Export and Import dealings, it is necessary to get an IE code. For more details, refer to explanation document provided at http://www.ap.nic.in/jdgft/iec.htm, where steps for obtaining the IE code and its purpose have been elaborated.
7. Trademark Registration
Trademark registration can be done by applying to the Office of the Controller General of Patents, Designs & Trade Marks (http://ipindia.nic.in/) using Form TM1. The application has a validity of 10 years and the fee is INR 2500. Only if the Trademark is registered can the "R" symbol be used next to the name.
8. Current Account Opening
A Current account is usually opened to conduct the financial transactions of the business. This can be done at any bank and the fee for opening and operating a current account varies across banks and the type of account chosen. For opening a current account, the usual requirement is to fill a Bank Account Opening form and provide the Incorporation Certificate, Address
Most small businesses don't have a high powered advertising agency to produce selling radio commercials for them and end up with something akin to a high school play, or with the business owner reading tired copy.The radio salesperson knows that by suggesting the owner be the star, visions of Dave from Wendys or that guy with the talking dog who says "roll that beautiful bean footage" come to mind.Worse, most businesses don't have a plan to coordinate all advertising to the same message. The newspaper ad says one thing, yellow pages another and the radio commercial is off in its own world.The radio ad person should know all about your campaign and image before leaving with the order. You should be promised a "proof" of your radio ad before it goes on the air. There should be at least two commercials, better four, selling the benefits.Remember Tom Bodett and Motel 6? A great campaign. It was just Tom delivering s
1. Company Registration
1.1 Memorandum and Articles of Association: Before approaching the Registrar of Companies (RoC), it is preferable to complete the process of preparing the draft Memorandum and Articles of Association, bring in the share application money and appoint the directors. First director is usually a shareholder of the company and a minimum of 2 directors is required for a company that is going to be a Private Limited Company.
1.2 Ascertaining Name Availability: The proposed name of the business needs to be checked for availability. This can be done online at the official Ministry of Company Affairs (MCA) website. It is also advisable to check for presence of other similar sounding names as this may not be acceptable to the RoC. Once the name has been decided, e Form 1A needs to be submitted, usually with 3 name options, to the RoC to apply for the name, along with the fee of INR 500 (can be done online through the MCA website).
1.3 Registration: On obtaining the name approval from the RoC, Form 23 needs to be submitted to them. A copy of the Board resolution to adopt the name of the company also needs to be submitted. Registration fees needs to be paid at this stage. The fee amount depends on the share capital of the new business and can be determined online by entering the details in the MCA website (http://www.mca.gov.in/).
1.4 Incorporation Certificate: Duly filled Form 1B needs to be submitted to the RoC to obtain an Incorporation Certificate. Check the MCA website for fee details, if any.
1.5 Director Appointment: Duly filled Form 32 needs to be submitted to the RoC to notify Director Appointment. Check the MCA website for fee details, if any.
1.6 Address Proof: Duly filled Form 18 needs to be submitted to the RoC to provide address proof of the business. Check the MCA website for fee details, if any.
On submission of Forms 1B, 32 and 18 completely filled, Incorporation Certificate will be provided in about 1 month. The Incorporation Certificate is to be attached as the 1st page in the Memorandum and Articles of Association document.
1.7 Allotment of Share Capital: For allotment of Shares to various shareholders, Form 2 needs to be submitted to the RoC.
1.8 Increase of Share Capital: Form 5 needs to be submitted in case of increase in the Authorized or Paid-up share capital.
2. Digital Signature
For online submission of forms in the MCA website, Digital Signatures of the authorized signatories is required. Therefore, this may be obtained before commencement of Step 1.2 above in case online submission of forms is going to be done to the RoC through the MCA website. Digital Signatures are currently given by TCS and SIFY and there is a charge for this. The application forms for obtaining Digital Signatures should also be available with TCS and SIFY.
3. Director Identification Number (DIN)
3.1 DIN Application form: On obtaining the Incorporation Certificate, the DIN Application form can be downloaded from the MCA website, filled and sent to the Noida MCA office from where DIN is allocated and notified by post to the Director's address provided in the form.
3.2 DIN 2: On allotment of DIN, the Director needs to notify the DIN details to the company using the DIN 2 form.
3.3 DIN 3: The company needs to inform the RoC about the DIN details of the Directors using the DIN 3 form.
For more details on the DIN related steps, refer to the MCA website.
4. Sales / Service Tax Registration
4.1 Sales Tax: On obtaining the Incorporation Certificate (required), the company needs to apply for Taxpayer's Identification Number (TIN) and CST Number at the Commercial Tax Office. For more details and the forms, refer to the State Government's Commercial Tax Office websites.
4.2: Service Tax: In case the newly formed company is providing services (e.g.: Consultancy services etc.), registration for Service Tax is necessary. The registration needs to be done with the Central Excise Commissionerate (http://www.servicetax.gov.in/).
5. Income Tax Registration
5.1 Company Permanent Account Number (PAN): On obtaining the Incorporation Certificate, PAN for Income Tax needs to be obtained by submitting Forms 49A and 49B to the Income Tax department. Check thier website, http://incometaxindia.gov.in/, for more details.
5.2 Company Tax deduction Account Number (TAN): For Tax Deduction at Source (TDS) by the company, TAN needs to be obtained from the Income Tax department.
6. Import Export Code (IE Code)
In case the new business involves Export and Import dealings, it is necessary to get an IE code. For more details, refer to explanation document provided at http://www.ap.nic.in/jdgft/iec.htm, where steps for obtaining the IE code and its purpose have been elaborated.
7. Trademark Registration
Trademark registration can be done by applying to the Office of the Controller General of Patents, Designs & Trade Marks (http://ipindia.nic.in/) using Form TM1. The application has a validity of 10 years and the fee is INR 2500. Only if the Trademark is registered can the "R" symbol be used next to the name.
8. Current Account Opening
A Current account is usually opened to conduct the financial transactions of the business. This can be done at any bank and the fee for opening and operating a current account varies across banks and the type of account chosen. For opening a current account, the usual requirement is to fill a Bank Account Opening form and provide the Incorporation Certificate, Address
All of us want to discover success, yet too often we move in paths that take us to the wrong destination. You can find your dream job, IF..... and that's the KEY to your success.... knowing or fixing the IF in your life.Let's think about your goal. You do have one, right? If not, then your first step must be to sit down and THINK. What's my objective? You've got to KNOW what and where it is that you are heading before success can be achieved.Yes, it's ugly. WORK without pay, full-time to boot! Every morning, you get up, dress up, fix up, like you're going to an executive job downtown. You are, but it's without pay for now. Your investment of energy, time, and research will pay huge dividends in your future dream job, I promise, income potential, too.Truth is... NO ONE likes to interview for a new position, at least I never did. Few of us like to work without pay. OK, maybe some wierd dummie thinks it's fun.
1.3 Registration: On obtaining the name approval from the RoC, Form 23 needs to be submitted to them. A copy of the Board resolution to adopt the name of the company also needs to be submitted. Registration fees needs to be paid at this stage. The fee amount depends on the share capital of the new business and can be determined online by entering the details in the MCA website (http://www.mca.gov.in/).
1.4 Incorporation Certificate: Duly filled Form 1B needs to be submitted to the RoC to obtain an Incorporation Certificate. Check the MCA website for fee details, if any.
1.5 Director Appointment: Duly filled Form 32 needs to be submitted to the RoC to notify Director Appointment. Check the MCA website for fee details, if any.
1.6 Address Proof: Duly filled Form 18 needs to be submitted to the RoC to provide address proof of the business. Check the MCA website for fee details, if any.
On submission of Forms 1B, 32 and 18 completely filled, Incorporation Certificate will be provided in about 1 month. The Incorporation Certificate is to be attached as the 1st page in the Memorandum and Articles of Association document.
1.7 Allotment of Share Capital: For allotment of Shares to various shareholders, Form 2 needs to be submitted to the RoC.
1.8 Increase of Share Capital: Form 5 needs to be submitted in case of increase in the Authorized or Paid-up share capital.
2. Digital Signature
For online submission of forms in the MCA website, Digital Signatures of the authorized signatories is required. Therefore, this may be obtained before commencement of Step 1.2 above in case online submission of forms is going to be done to the RoC through the MCA website. Digital Signatures are currently given by TCS and SIFY and there is a charge for this. The application forms for obtaining Digital Signatures should also be available with TCS and SIFY.
3. Director Identification Number (DIN)
3.1 DIN Application form: On obtaining the Incorporation Certificate, the DIN Application form can be downloaded from the MCA website, filled and sent to the Noida MCA office from where DIN is allocated and notified by post to the Director's address provided in the form.
3.2 DIN 2: On allotment of DIN, the Director needs to notify the DIN details to the company using the DIN 2 form.
3.3 DIN 3: The company needs to inform the RoC about the DIN details of the Directors using the DIN 3 form.
For more details on the DIN related steps, refer to the MCA website.
4. Sales / Service Tax Registration
4.1 Sales Tax: On obtaining the Incorporation Certificate (required), the company needs to apply for Taxpayer's Identification Number (TIN) and CST Number at the Commercial Tax Office. For more details and the forms, refer to the State Government's Commercial Tax Office websites.
4.2: Service Tax: In case the newly formed company is providing services (e.g.: Consultancy services etc.), registration for Service Tax is necessary. The registration needs to be done with the Central Excise Commissionerate (http://www.servicetax.gov.in/).
5. Income Tax Registration
5.1 Company Permanent Account Number (PAN): On obtaining the Incorporation Certificate, PAN for Income Tax needs to be obtained by submitting Forms 49A and 49B to the Income Tax department. Check thier website, http://incometaxindia.gov.in/, for more details.
5.2 Company Tax deduction Account Number (TAN): For Tax Deduction at Source (TDS) by the company, TAN needs to be obtained from the Income Tax department.
6. Import Export Code (IE Code)
In case the new business involves Export and Import dealings, it is necessary to get an IE code. For more details, refer to explanation document provided at http://www.ap.nic.in/jdgft/iec.htm, where steps for obtaining the IE code and its purpose have been elaborated.
7. Trademark Registration
Trademark registration can be done by applying to the Office of the Controller General of Patents, Designs & Trade Marks (http://ipindia.nic.in/) using Form TM1. The application has a validity of 10 years and the fee is INR 2500. Only if the Trademark is registered can the "R" symbol be used next to the name.
8. Current Account Opening
A Current account is usually opened to conduct the financial transactions of the business. This can be done at any bank and the fee for opening and operating a current account varies across banks and the type of account chosen. For opening a current account, the usual requirement is to fill a Bank Account Opening form and provide the Incorporation Certificate, Address
All most all the companies have plenty of executive positions, which are very necessary for running of an organization. Candidates having eligibility for executive positions need the jobs that fit their criteria. Executive positions are supporting level jobs for any industry, any area of work. The industries and executives are most in demand are Insurance executive, Logistic executive, Finance executive, Engineering executive (Designer in Advanced Concepts, technical experience), Retail executive, Human resources executive, Legal executive, Real Estate executive, Quality Assurance executive, Sales/ Marketing executive, Documentation executive, Service and support executive, and Medicine executive. Every executive level personnel must know the basic level of the relevant field.The specific recruiters recruit all these executive positions under a methodological process. They know the skill set, job description and responsibility for individual field o
On submission of Forms 1B, 32 and 18 completely filled, Incorporation Certificate will be provided in about 1 month. The Incorporation Certificate is to be attached as the 1st page in the Memorandum and Articles of Association document.
1.7 Allotment of Share Capital: For allotment of Shares to various shareholders, Form 2 needs to be submitted to the RoC.
1.8 Increase of Share Capital: Form 5 needs to be submitted in case of increase in the Authorized or Paid-up share capital.
2. Digital Signature
For online submission of forms in the MCA website, Digital Signatures of the authorized signatories is required. Therefore, this may be obtained before commencement of Step 1.2 above in case online submission of forms is going to be done to the RoC through the MCA website. Digital Signatures are currently given by TCS and SIFY and there is a charge for this. The application forms for obtaining Digital Signatures should also be available with TCS and SIFY.
3. Director Identification Number (DIN)
3.1 DIN Application form: On obtaining the Incorporation Certificate, the DIN Application form can be downloaded from the MCA website, filled and sent to the Noida MCA office from where DIN is allocated and notified by post to the Director's address provided in the form.
3.2 DIN 2: On allotment of DIN, the Director needs to notify the DIN details to the company using the DIN 2 form.
3.3 DIN 3: The company needs to inform the RoC about the DIN details of the Directors using the DIN 3 form.
For more details on the DIN related steps, refer to the MCA website.
4. Sales / Service Tax Registration
4.1 Sales Tax: On obtaining the Incorporation Certificate (required), the company needs to apply for Taxpayer's Identification Number (TIN) and CST Number at the Commercial Tax Office. For more details and the forms, refer to the State Government's Commercial Tax Office websites.
4.2: Service Tax: In case the newly formed company is providing services (e.g.: Consultancy services etc.), registration for Service Tax is necessary. The registration needs to be done with the Central Excise Commissionerate (http://www.servicetax.gov.in/).
5. Income Tax Registration
5.1 Company Permanent Account Number (PAN): On obtaining the Incorporation Certificate, PAN for Income Tax needs to be obtained by submitting Forms 49A and 49B to the Income Tax department. Check thier website, http://incometaxindia.gov.in/, for more details.
5.2 Company Tax deduction Account Number (TAN): For Tax Deduction at Source (TDS) by the company, TAN needs to be obtained from the Income Tax department.
6. Import Export Code (IE Code)
In case the new business involves Export and Import dealings, it is necessary to get an IE code. For more details, refer to explanation document provided at http://www.ap.nic.in/jdgft/iec.htm, where steps for obtaining the IE code and its purpose have been elaborated.
7. Trademark Registration
Trademark registration can be done by applying to the Office of the Controller General of Patents, Designs & Trade Marks (http://ipindia.nic.in/) using Form TM1. The application has a validity of 10 years and the fee is INR 2500. Only if the Trademark is registered can the "R" symbol be used next to the name.
8. Current Account Opening
A Current account is usually opened to conduct the financial transactions of the business. This can be done at any bank and the fee for opening and operating a current account varies across banks and the type of account chosen. For opening a current account, the usual requirement is to fill a Bank Account Opening form and provide the Incorporation Certificate, Address
Lean manufacturing is a business performance improvement tool that focuses on enhancing quality, cost, delivery, and people. It helps expose waste and makes continuous improvement possible by identifying and eliminating non-value-adding activities in design, production, supply chain and management.Striving to improve competitiveness by providing customers faster and better products or services, which will accomplish more than worrying about the next global crisis, is the basic aim behind lean manufacturing. The only game we need to be adept at today is the one that removes waste so the customer sees more value.In the world of lean manufacturing, companies try to produce only what has been demanded by the customer, and only when the product is required. To optimize benefits of lean throughout the supply chain, it is essential to build a partnership with your suppliers. This partnership must work on the basic principle that you pull only what
3.2 DIN 2: On allotment of DIN, the Director needs to notify the DIN details to the company using the DIN 2 form.
3.3 DIN 3: The company needs to inform the RoC about the DIN details of the Directors using the DIN 3 form.
For more details on the DIN related steps, refer to the MCA website.
4. Sales / Service Tax Registration
4.1 Sales Tax: On obtaining the Incorporation Certificate (required), the company needs to apply for Taxpayer's Identification Number (TIN) and CST Number at the Commercial Tax Office. For more details and the forms, refer to the State Government's Commercial Tax Office websites.
4.2: Service Tax: In case the newly formed company is providing services (e.g.: Consultancy services etc.), registration for Service Tax is necessary. The registration needs to be done with the Central Excise Commissionerate (http://www.servicetax.gov.in/).
5. Income Tax Registration
5.1 Company Permanent Account Number (PAN): On obtaining the Incorporation Certificate, PAN for Income Tax needs to be obtained by submitting Forms 49A and 49B to the Income Tax department. Check thier website, http://incometaxindia.gov.in/, for more details.
5.2 Company Tax deduction Account Number (TAN): For Tax Deduction at Source (TDS) by the company, TAN needs to be obtained from the Income Tax department.
6. Import Export Code (IE Code)
In case the new business involves Export and Import dealings, it is necessary to get an IE code. For more details, refer to explanation document provided at http://www.ap.nic.in/jdgft/iec.htm, where steps for obtaining the IE code and its purpose have been elaborated.
7. Trademark Registration
Trademark registration can be done by applying to the Office of the Controller General of Patents, Designs & Trade Marks (http://ipindia.nic.in/) using Form TM1. The application has a validity of 10 years and the fee is INR 2500. Only if the Trademark is registered can the "R" symbol be used next to the name.
8. Current Account Opening
A Current account is usually opened to conduct the financial transactions of the business. This can be done at any bank and the fee for opening and operating a current account varies across banks and the type of account chosen. For opening a current account, the usual requirement is to fill a Bank Account Opening form and provide the Incorporation Certificate, Address
1. Make sure there are numerous apartment complexes and small single–family dwellings within a one to two-mile radius of the location. Many of these may offer inadequate laundry facilities or none at all.2. Consider servicing the growing needs of lower income and ethnic communities. These areas typically feature larger families that depend on coin laundries. For example, according to US 2000 Census figures, the Hispanic community is the fastest growing population segment in the country.3. Make sure there is good visibility from the street and ample parking. Flags, roof signage and the colors blue and red always attract attention.4. If you're considering a store in a strip center, make sure other stores in the center are the type that will attract customers to your laundry.5. If you're considering a freestanding store of 4,000 square feet or larger, consider choosing one large enough to accommodate additional retail services in t
5.2 Company Tax deduction Account Number (TAN): For Tax Deduction at Source (TDS) by the company, TAN needs to be obtained from the Income Tax department.
6. Import Export Code (IE Code)
In case the new business involves Export and Import dealings, it is necessary to get an IE code. For more details, refer to explanation document provided at http://www.ap.nic.in/jdgft/iec.htm, where steps for obtaining the IE code and its purpose have been elaborated.
7. Trademark Registration
Trademark registration can be done by applying to the Office of the Controller General of Patents, Designs & Trade Marks (http://ipindia.nic.in/) using Form TM1. The application has a validity of 10 years and the fee is INR 2500. Only if the Trademark is registered can the "R" symbol be used next to the name.
8. Current Account Opening
A Current account is usually opened to conduct the financial transactions of the business. This can be done at any bank and the fee for opening and operating a current account varies across banks and the type of account chosen. For opening a current account, the usual requirement is to fill a Bank Account Opening form and provide the Incorporation Certificate, Address proof of the company and PAN card and Address details of Authorized Account operators.
9. Share Certificates
Share certificates need to be issued (usually by the appointed CA) when application money is converted to shares on submission of Form 2 to MCA.
10. Administrative Issues
On obtaining the Incorporation Certificate, rubber stamps for the authorized signatories needs to be made as this will be useful while filling up physical forms.
11. Shareholders Agreement
This is an agreement entered into by the shareholders that details out the agreed terms, conditions, roles, responsibilities, remuneration and any other details which the shareholders want to record. This is an internal document to ensure transparent dealing among the Shareholders.
Conclusion
All the above points are based on what I did in the year 2007 for starting up my company (registered as Dilsebol Customized Apparel Pvt Ltd.); the relevance of these points at a future time period should be thoroughly checked as the laws, rules and regulations are evolving all the time! Good luck for a successful incorporation and an even more successful venture!
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