With the launch of Startup Registration in India initiative in 2016, the business environment has become more transparent, entrepreneurial & investor-friendly. Now, most of the Startup has an element of innovation in their business idea and offer a unique product/service.
To encourage this kind of friendly & transparent business environment and to continuously encourage people to bring their ideas into a reality, the government is taking every possible step.
Following is table represents various application formalities that need to be completed before kick-starting your venture and also the estimated time & cost which needs to be put in.
|S. NO||PROCEDURE||DEPARTMENT||TIME (Days)||COST (INR)|
|1||Apply for Director Identification Number (DIN)||Ministry of corporate affairs (MCA)||1||100|
|2||Obtain online Digital Signature certificate||Ministry of corporate affairs (MCA)||3||1500|
|3||Reserve your Business name||Registrar of companies (ROC)||2||500|
|4||MOA, AOA, Company stamping documents||State Treasury or Authorised bank||1||1300|
|5||Incorporation certificate||ROC or MCA||5||*Depending on capital|
|6||Obtain Permanent Account Number (PAN)||NSDL or UTIITSL||7||67|
|7||Obtain Tax Account Number (TAN)||Income Tax Department||7||57|
|8||Register under office, shops & establishment act||Municipal office||2||6500|
|9||GST Registration||Goods & Service Tax (GST)||12||5100|
|10||Register for Provident fund||Employment provident fund organisation||10||N/A|
|11||Register for Medical Insurance||Employment state insurance organisation||9||N/A|