How to Register a New Business in Chennai- T Nagar?
New Business Registration- How to Register a New Business in Chennai- T Nagar? is the most frequently Entrepreneurial aspirations are on the rise among the youth with the growing middle class in India. Therefore, it is more profitable than any other time to start a business in India. In this article, we will look at how to start a business in India. Before starting a business, the entrepreneur must have a vision for the proposed business. The vision can be as simple as the plan of action to start the business with the entrepreneur in mind or it can be a detailed business plan with market analysis, predictive financial statement, etc. A detailed business plan will help the entrepreneur to avoid mistakes and increase the chances of success in the business. If the entrepreneur does not have a business idea with a hypothesis, he can do research online research for business ideas. The following are good resources for finding a business idea:
Home based business ideas in India,
Business Idea Centre
Large list of business ideas
Rules for the business to adhere
The company has to abide by the rules and regulations of India. This is important to ensure trouble-free conduct of the company’s business in the long run.
Trademark registration needs to be completed, which is beneficial after New business registration in Chennai. One can avail tax exemption from the government once the company’s trademark is registered.
According to the Companies Act, anyone above the age of 18 can register a company
At least two directors, one of whom will be a resident director, are required for a company if it is a private limited company registration. For one Person Company, one director is enough. The company may hire a number of additional local or foreign directors.
The minimum paid up capital with it is one lakh. However, you do not have to keep one lakh in your bank account. This can be increased after the inclusion of the company.
Documents Required for New business registration in Chennai
Company naming details
People involved in the business
Article and Memorandum of Association
There are many consultants in India who carry out the entire process on behalf of the company. Knowledge of processing simplifies the whole task. It helps to finish all the tasks faster and more efficiently. Chartered Accountants and Company registration consultants are considered as experts in this field in India.
Procedure to start a new business in Chennai
1. Checking the availability of company name
Before New business registration in T-nagar, you must check if the suggested name is available. This can be done online, where applicants can check the availability of their desired company names on the MCA21 website. Once approved, the name of the selected company appears on the website.
2. Obtain Director Identification Number (DIN)
The Director Identification Number (DIN) is a special identification number given to any existing or potential director of the companies involved. Provisional DIN can be obtained by filling the DIN-1 application form application online.
Thereafter, a printed and signed version of the form must be sent to the Ministry with proof of identity and address for their approval. Permanent DIN is issued after verification of documents and subsequent approval of the request.
3. Obtain a certificate of digital signature
A digital signature certificate is an issued electronic key. DSC validates, identifies the holder of this certificate. An agency registered with the Ministry may issue this certificate. The application form, proof of identity and proof of permanent address must be submitted by the director of the company while applying for digital signature certificate. It is required for New business registration in Chennai.
4. Obtaining certificate of incorporation
The certificate of investment is issued by the Ministry of Corporate Affairs and is used as proof of the constitution of the company. To apply, the following form must be digitally filed on the website of the Ministry of Company Affairs on E-Form 32, E-Form 1 and E-Form 18.
For New business registration in Adayar along with Form 1, a copy of each must be provided to the Registrar of Companies: Memorandum and Articles Association of Association (MoA and AOA), stamped copy establishing the consent of the directors and the power of attorney. The certificate of investment will be automatically sent to the e-mail id provided in the information submitted with the form when incorporating the private company.
5. Making company seals for official documents
Company seals are required on papers for distribution of certificates and other official documents for New business registration in Velacherry. The total cost of obtaining a seal facial seal depends on the number of words that need to be engraved on it, the number of seals issued and the delivery time of the seal. It should be noted here that the requirement to maintain a company seal is not mandatory for private companies.
6. Stamping of all company documents
The application for stamping of the company’s investment documents must always have a memorandum with the receipt of its payment and unsigned copies of the Articles Association. The stamp duty for such documents should be paid online to the registrar of the company.
After this application, the superintendent will return copies – one of which has a stamp, signature. Finally, the promoters of the company must sign the MOA and AOA, all the necessary information is filled in their own signature.
7. Obtain a permanent account number (PAN)
Form 49A needs to be filled for page application. Once a unique page is obtained, the physical version of the PAN card will be delivered by official post to your registered address. The PAN application can also be done online, but the documents required for the final verification will still need to be sent in person.
Recent news of company incorporation in chennai
According to a definite sign of a revival in business sentiment, the company’s engines grew by 20% in the April-December period of FY20 compared to the same period last year. Figures from the Ministry of Corporate Affairs (MCA) show that 1.13 lakh companies were included in the first nine months of the current financial year, up from 93,758 companies as on December 20.
A senior government official said the reason behind the sharp growth was the progress made towards creating small companies and LLP companies, as growth has been recorded with improved facilities through digital services.