Starting a new business is an exciting but complex process that requires careful planning, legal compliance, and strategic execution.
Business formation services help entrepreneurs legally establish their companies and set the foundation for smooth operations and future growth.
Choosing the Right Business Structure
✅ Sole Proprietorship – Best for small, low-risk businesses with full control.
✅ Partnership Firm – Two or more individuals sharing profits and liabilities.
✅ Limited Liability Partnership (LLP) – Combines flexibility of a partnership with the limited liability feature of companies.
✅ Private Limited Company (Pvt Ltd) – Suitable for businesses planning to raise funds, issue shares, and scale fast.
✅ One Person Company (OPC) – For solo entrepreneurs seeking limited liability without a partner.
Mandatory Registrations and Licenses
- Company Incorporation (via MCA portal).
- PAN & TAN Registration (for taxation).
- GST Registration (if turnover crosses ₹40 lakh or service providers above ₹20 lakh, or for inter-state business).
- Professional Tax Registration (if applicable).
- Shop and Establishment Act License (mandatory for physical shops/offices).
- Udyam (MSME) Registration (to access government schemes and benefits).
- Import Export Code (IEC) (for businesses engaged in international trade).
Setting Up Financial and Legal Frameworks
Open business current account.
Set up basic accounting and bookkeeping systems.
Draft founder agreements, shareholder agreements, and IP protection agreements (trademarks, patents, copyrights).
Set up basic HR and payroll policies.
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Tax Planning and Compliance Setup
Register for GST, TDS, PF/ESIC if applicable.
Understand startup tax benefits like exemptions under Section 80IAC and Angel Tax relief.
Set up a compliance calendar for timely filing of returns (GST, TDS, Income Tax, PF, ESIC).
Plan initial capital structuring to maximize tax efficiency.