Simple Method to register a company in India? Register Company 2020. The first question which comes in our mind is what is registered company, basically it is a company which is been officially set up and is been registered with the Registrar of Companies. Now let us see the introduction of the companies basically If you are planning a startup then you should register it.
The registration of business is very important and it will give you many benefits. It will protect your business and secure your rights against the third party. If in the case of failure of upcoming registration then you may have to face legal consequences. So the registration of business is a primary thing for any business during incorporation. Even the business Registration in India is not much that difficult because there are many various types of form of business which are available where you can register your business under Company law, LLP laws, or Partnership Laws.
Now why the Business Registration is Important :
1. This registration of business will give you protection under the laws. For example if you register your business under company laws or under LLP law. Then it will protect your business and you also. As you know that company and LLP are the separate legal entity. And if in this case of failure of registration, you may have to face some legal consequences.
2. This type of registration is also important for getting a loan from the bank because it will be difficult for the unregistered company to get a loan from the bank and is even important for obtaining benefits from the government schemes you may have to face problems in the case of failure of registration.
By seeing an example if you want to register your business under register company in india Udyog Aadhar. Then you have to mention your registration number except if you are running a sole Proprietorship, and if you want to get benefits from the Udyog Aadhar scheme then you have to register your business.
3. This registration is important for creating a brand name because nowadays it is very important for any business to obtain a brand name. So business registration is important for creating a brand name. A brand name is having valuable assets of any business so before getting a brand name you have to register your business.
Also if you want to open a current account on behalf of your business. Then you have to register your business, without registration, it will be difficult for you to open a current account on behalf of your business. When you are running a partnership firm register company in india business registration is important for you because without registration you may be not able to file a suit against the next party. Also against the other partners because without registration you may be not be able to prove that you are running a partnership firm.
Even if you are running a sole proprietorship firm then business registration will help you to prove your business identity. There are formal laws on sole proprietorship but if you want to register your business then you can register it with the different channels like Udyog Aadhar, PAN card, GST and Trademark.
4.The Business registration path will help you to create valid invoices also this will help you to crease your sell because a customer will trust you more if your business registered under the laws. It will help you under the tax laws, register company in india you may be able to get deduction under the various tax laws, without registration it will not possible for you to obtain such deduction under the tax laws. For example if you are running a registered LLP then you will become able to get deduction under the tax laws.
5. It is also important for obtaining the GSTIN. It is your duty to register your business under the GST laws, it is mandatory for those whose turnover is more than 20 lakh rupees or in some states it is 10 lakh register company in india, in the case of failure of GST registration you may have to face legal consequences and also how to File GST Return application online on the official website of the GST.
6. This registration is also important during the hiring of employees because no one wants to become an employee of the unregistered company.
7. This registration is also important for finding investors. After registration of business investors will easily trust you, it will be difficult to find investors for unregistered business.
8. This registration will also increase your credibility in the market.
Different Benefits of Company Registration in India are as follows :
A company registration provides many advantages and a licensed company makes it genuine, and also enhances the business credibility.
1. It protects against personal obligation and also defends against other threats and losses.
2. It builds goodwill and also supports more customer attraction
3 It gives reliable investors bank credits and good investment with ease.
4. It also provides cover of the responsibility to protect the company’s assets
5. It is a bigger commitment to wealth and greater stability
6. It even increases the ability to develop and grow large
Simple methods to Register a Company in India are as follows
It is a very simple 4 step process and here is what you will eed to acquire –
i. A Digital Signature Certificate(DSC)
ii. A Director Identification Number (DIN)
iii. By doing registration on the MCA Portal
iv. Certificate of Incorporation
The documents which are been required for the registration are as follows :
1. PAN Card – The most important document which need to be taken of all the members of the proposed society has to be submitted along with the application.
2.Residence Proof – The Residence Proof of all the members of the society also has to be submitted. And with that the following can be used as a valid residence proof which are listed below:
2.1 Bank Statement
2.2 Aadhaar Card
2.3 Utility Bill
2.4 Driving License
3. Memorandum of Association – The memorandum of association has to be prepared which will contain the following clauses and information and also the work and The objectives of the society for is established and it contains basically:
3.1 The details of the members forming the society
3.2 It will contain the address of the registered office of the society
4. Articles of Association – This article of association also need to be prepared time by time. It will contain the following information :
4.1 Rules and regulations by which the working of the society will be governed. And the maintenance of day to day activities
4.2 It will also contain the rules for taking the membership of the society
4.3 The details about the meetings of the society and the frequency with which they are going to be held also to be mentioned
4.4;Information about the Auditors
4.5 Forms of Arbitration in case of any dispute between the members of the society
4.6 Ways for the dissolution of the society will also be mentioned
4.7 Once the rules have been formed. andThey can be changed but the new set of rules will be signed by the President, Chairman, Vice President and the Secretary of the Society.
5. The covering letter is mentioning here the objective or the purpose for which the society is being formed will be annexed to the beginning of the application and will also be signed by all the founding members of the society.
6. And even a copy of the proof of address where the registered office of the society will be located along with an NOC from the landlord if any has to be attached.
7. Also the list of all the members of the governing body has to be given along with their signatures.
8. Even the declaration has to be given by the president of the proposed society that he is willing and competent to hold the said post.
At last we can conclude up by saying that if you are planning a startup then you should register your business as you can see above that it is very important to register your business and the business registration in India is simple if you want to incorporate your business as a company or an LLP then you can apply your incorporation form to the Ministry of Corporate Affairs. Also if you are planning a startup then you should first register your business as it is very essential in the case of failure of registration you may have to face many legal consequences.